Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Nigeria - 2022

Contents:

1. Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Nigeria (FOB) - 2022
2. Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Nigeria (CIF) - 2022
3. Exports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Nigeria
4. Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Nigeria

Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Nigeria (FOB) - 2022

In 2022, the average export price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) amounted to $83 per ton, shrinking by -68.9% against the previous year. In general, the export price saw a noticeable contraction. The pace of growth was the most pronounced in 2021 when the average export price decreased by less than 0.1% against the previous year. Over the period under review, the average export prices attained the maximum at $266 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2014 to 2022, the rate of growth in terms of prices for China amounted to -44.6% per year.

Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Nigeria (CIF) - 2022

The average import price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) stood at $138 per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price, however, saw a abrupt curtailment. The import price peaked at $382 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -9.7% per year.

Exports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Nigeria

In 2022, exports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) from Nigeria skyrocketed to 14K tons, rising by 3,655% compared with 2021. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) surged to $1.1M in 2022. Over the period under review, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) from Nigeria in 2022:

1. China (13.7K tons)

Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Nigeria

In 2022, approx. 1.9 tons of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) were imported into Nigeria; dropping by -20% compared with the previous year's figure. Overall, imports recorded a precipitous contraction.

In value terms, imports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) contracted remarkably to $269 in 2022. Over the period under review, imports faced a precipitous setback.

Top Suppliers of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) to Nigeria in 2022:

1. China (1.9 tons)

Source: IndexBox Market Intelligence Platform