Report Update Jan 1, 2025

Nigeria - Copper Mattes and Cement Copper - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Copper Matte Market 2025

Copper Matte Market Size in Nigeria

In 2022, after two years of decline, there was significant growth in the Nigerien copper matte market, when its value increased by 5.3% to $X. In general, consumption enjoyed a resilient increase. Copper matte consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Copper Matte Production in Nigeria

In value terms, copper matte production reduced modestly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by 22% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Copper Matte Exports

Exports from Nigeria

In 2022, overseas shipments of copper mattes and cement copper decreased by -44.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports saw a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 250% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, copper matte exports contracted notably to $X in 2022. In general, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 305%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for copper matte exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China totaled -16.2%.

In value terms, China ($X) also remains the key foreign market for copper mattes and cement copper exports from Nigeria.

From 2012 to 2022, the average annual growth rate of value to China amounted to -15.8%.

Export Prices by Country

The average copper matte export price stood at $X per ton in 2022, increasing by 13% against the previous year. Overall, the export price posted moderate growth. The most prominent rate of growth was recorded in 2014 an increase of 64% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

As there is only one major export destination, 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 +0.5% per year.

Copper Matte Imports

Imports into Nigeria

In 2022, overseas purchases of copper mattes and cement copper increased by 25% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 1,697%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, copper matte imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2018 with an increase of 1,105% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest copper matte supplier to Nigeria, with a 71% share of total imports. Moreover, copper matte imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by the UK (X kg), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.0% per year) and the UK (+19.8% per year).

In value terms, the United States ($X) constituted the largest supplier of copper mattes and cement copper to Nigeria, comprising 71% of total imports. The second position in the ranking was taken by the UK ($X), with a 14% share of total imports. It was followed by China, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+7.8% per year) and China (-24.8% per year).

Import Prices by Country

The average copper matte import price stood at $X per ton in 2022, remaining constant against the previous year. In general, the import price recorded a abrupt contraction. The growth pace was the most rapid in 2015 an increase of 45%. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-4.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for copper mattes and cement copper in the world?

The countries with the highest volumes of in 2021 were Russia, South Korea and China, with a combined 40% share of global consumption.

What are the largest producers of copper mattes and cement copper in the world?

The country with the largest volume of copper matte production was Iran, accounting for 22% of total volume. Moreover, copper matte production in Iran exceeded the figures recorded by the second-largest producer, the Philippines, twofold. Finland ranked third in terms of total production with an 8.2% share.

What are the leading suppliers of copper mattes and cement copper to Nigeria?

In value terms, the United States, the UK and China constituted the largest copper matte suppliers to Nigeria, with a combined 91% share of total imports.

What are the leading importers of copper mattes and cement copper from Nigeria?

In value terms, India remains the key foreign market for copper matte exports from Nigeria.

What is the average export price for copper mattes and cement copper in Nigeria?

The average copper matte export price stood at $2,055 per ton in 2021, therefore, remained relatively stable against the previous year.

What is the average import price for copper mattes and cement copper in Nigeria?

In 2021, the average copper matte import price amounted to $1,310 per ton, growing by 16% against the previous year.

This report provides an in-depth analysis of the copper matte market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24441100 - Copper mattes, cement copper (precipitated copper) (excluding copper powder)

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024