Price for Ferrous Waste and Scrap; of Cast Iron in Nigeria - 2022

Contents:

1. Price for Ferrous Waste and Scrap; of Cast Iron in Nigeria (CIF) - 2022
2. Price for Ferrous Waste and Scrap; of Cast Iron in Nigeria (FOB) - 2022
3. Imports of Ferrous Waste and Scrap; of Cast Iron in Nigeria
4. Exports of Ferrous Waste and Scrap; of Cast Iron in Nigeria

Price for Ferrous Waste and Scrap; of Cast Iron in Nigeria (CIF) - 2022

In 2022, the average import price for ferrous waste and scrap; of cast ira amounted to $20,000 per ton, rising by 2,576% against the previous year. In general, the import price continues to indicate significant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2022, the rate of growth in terms of prices for Swaziland amounted to +219.2% per year.

Price for Ferrous Waste and Scrap; of Cast Iron in Nigeria (FOB) - 2022

The average export price for ferrous waste and scrap; of cast ira stood at $213 per ton in 2022, picking up by 4.1% against the previous year. Overall, the export price, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2018 an increase of 67% against the previous year. The export price peaked at $438 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($215 per ton), while the average price for exports to Togo stood at $177 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+4.5%).

Imports of Ferrous Waste and Scrap; of Cast Iron in Nigeria

For the third consecutive year, Nigeria recorded decline in supplies from abroad of ferrous waste and scrap; of cast ira, which decreased by 99.9% to 1 kg in 2022. Overall, imports showed a precipitous slump. The smallest decline of -61.7% was in 2020.

In value terms, imports of ferrous waste and scrap; of cast ira reduced remarkably to $20 in 2022. In general, imports showed a sharp descent. The smallest decline of -6.4% was in 2021.

Top Suppliers of Ferrous Waste and Scrap; of Cast Iron to Nigeria in 2022:

1. Hong Kong SAR (1.0 kg)

Exports of Ferrous Waste and Scrap; of Cast Iron in Nigeria

In 2022, shipments abroad of ferrous waste and scrap; of cast ira decreased by -24.9% to 201 tons for the first time since 2018, thus ending a three-year rising trend. Overall, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +7.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 40% against the previous year.

In value terms, exports of ferrous waste and scrap; of cast ira dropped significantly to $43K in 2022. In general, exports, however, showed buoyant growth. The growth pace was the most rapid in 2021 with an increase of 78% against the previous year. As a result, the exports attained the peak of $55K, and then shrank dramatically in the following year.

Top Export Markets for Ferrous Waste and Scrap; of Cast Iron from Nigeria in 2022:

1. Benin (194.1 tons)
2. Togo (6.7 tons)

Source: IndexBox Market Intelligence Platform