Price for Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled in Nigeria - 2023

Contents:

1. Price for Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled in Nigeria (CIF) - 2023
2. Price for Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled in Nigeria (FOB) - 2022
3. Imports of Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled in Nigeria
4. Exports of Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled in Nigeria

Price for Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled in Nigeria (CIF) - 2023

In December 2023, the average import price for aluminium; foil, (not backed), of a thickness not exceeding 0.2mm, not rolleds amounted to $4,201 per ton, picking up by 4.7% against the previous month. Over the period under review, the import price, however, recorded a deep setback. The growth pace was the most rapid in September 2023 an increase of 78% against the previous month. As a result, import price attained the peak level of $8,931 per ton. From October 2023 to December 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was India ($9,197 per ton), while the price for China totaled $1,973 per ton.

From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Germany (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled in Nigeria (FOB) - 2022

In 2022, the average export price for aluminium; foil, (not backed), of a thickness not exceeding 0.2mm, not rolleds amounted to $1,408 per ton, with a decrease of -14.4% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 202%. Over the period under review, the average export prices attained the peak figure at $2,515 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($4,873 per ton), while the average price for exports to Benin stood at $656 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+1.0%), while the prices for the other major destinations experienced a decline.

Imports of Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled in Nigeria

In 2022, purchases abroad of aluminium; foil, (not backed), of a thickness not exceeding 0.2mm, not rolleds decreased by -61.5% to 1.8K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports faced a deep setback. The growth pace was the most rapid in 2020 with an increase of 85%. As a result, imports reached the peak of 6.1K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of aluminium; foil, (not backed), of a thickness not exceeding 0.2mm, not rolleds plummeted to $14M in 2022. Overall, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 83% against the previous year.

Top Suppliers of Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled to Nigeria in 2022:

1. India (544.5 tons)
2. Germany (405.1 tons)
3. China (387.2 tons)
4. Italy (96.2 tons)
5. Spain (86.7 tons)
6. United States (59.2 tons)
7. Netherlands (55.7 tons)
8. Belgium (33.0 tons)

Exports of Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled in Nigeria

In 2022, the amount of aluminium; foil, (not backed), of a thickness not exceeding 0.2mm, not rolleds exported from Nigeria declined rapidly to 19 tons, which is down by -68% on the previous year. Over the period under review, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2021 when exports increased by 146% against the previous year. As a result, the exports attained the peak of 59 tons, and then dropped dramatically in the following year.

In value terms, exports of aluminium; foil, (not backed), of a thickness not exceeding 0.2mm, not rolleds fell sharply to $26K in 2022. In general, exports continue to indicate a mild slump. The most prominent rate of growth was recorded in 2021 with an increase of 643% against the previous year. As a result, the exports reached the peak of $97K, and then declined significantly in the following year.

Top Export Markets for Aluminium; Foil, (Not Backed), of A Thickness Not Exceeding 0.2mm, Not Rolled from Nigeria in 2022:

1. Benin (15.4 tons)
2. Ghana (3.4 tons)

Source: IndexBox Market Intelligence Platform