Copper ingots exports from Nigeria: data, top buyers and prices
In 2024, Nigeria exported copper ingots worth $116.0 million (17.6 thousand tonnes). That is 42% less than in 2023. Over 2017-2024 the trade grew strongly, by about 50% a year on average. The peak in this period was 2023, at $199.5 million.
Public statistics, latest complete year (2024). Values in US dollars. Page updated .
Exports by year, 2017-2024
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Year by year
| Year | Value | Quantity |
|---|---|---|
| 2024 | $116.0M | 17.6K t |
| 2023 | $199.5M | 30.1K t |
| 2022 | $143.7M | 20.7K t |
| 2021 | $47.6M | 7.6K t |
| 2020 | $26.3M | 5.9K t |
| 2019 | $13.2M | 3.0K t |
| 2018 | $18.2M | 3.5K t |
| 2017 | $6.8M | 1.5K t |
Where Nigeria exports copper ingots to
Most of it went to China (37%), Japan (36%), South Korea (21%). Among the main buyer markets, United States grew fastest (+107% on the year before).
| Destination | Value | Share |
|---|---|---|
| China | $42.5M | 37% |
| Japan | $41.8M | 36% |
| South Korea | $24.2M | 21% |
| United States | $2.8M | 2.4% |
| Spain | $1.3M | 1.1% |
| India | $1.2M | 1% |
| Belgium | $857K | 0.7% |
| Thailand | $448K | 0.4% |
| Dem. People's Rep. of Korea | $350K | 0.3% |
| Mexico | $281K | 0.2% |
Product types under HS 7403
| 7403.21 | Brass ingots | 44% |
| 7403.11 | Copper: refined, unwrought, cathodes and sections of cathodes | 38% |
| 7403.29 | Copper alloy ingots other | 18% |
| 7403.12 | Copper wire-bars | 0% |
| 7403.22 | Bronze ingots | 0% |
Codes and full descriptions: HS heading 7403.
Average export price per kg
The average declared value was about $6.58 per kg, 28% below the world average of $9.12, which often means bulk or lower-grade product.
Declared value divided by weight, all 2024 shipments. Prices per shipment and per company are in EximDataX.
Copper ingots imports to Nigeria
Imports of copper ingots by Nigeria reached $413 thousand in 2024 (46 tonnes). The largest suppliers were Italy (41%), India (25%), Egypt (19%).
| Supplier country | Value | Share |
|---|---|---|
| Italy | $167K | 41% |
| India | $105K | 25% |
| Egypt | $78K | 19% |
| France | $53K | 13% |
| United States | $3K | 0.7% |
| China | $3K | 0.7% |
| Sweden | $3K | 0.6% |
| Kenya | $2K | 0.4% |
| United Kingdom | $0K | 0% |
Who is behind these numbers in Nigeria?
The shipment records behind Nigeria copper ingots exports (HS 7403): companies, dates, quantities and declared values.
Shipment records are in the platform
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Direct customs feed: shipment-level records from the official customs source.
Source: CEPII BACI (reconciled UN Comtrade data), HS 2017 edition, release 202601, Etalab Open Licence 2.0. Annual values in US dollars at the customs border; quantities in tonnes where reported. HS 7403: Copper; refined and copper alloys, unwrought.
Common questions
What is the value of copper ingots exported by Nigeria?
Nigeria exported copper ingots worth $116.0 million in 2024, the latest year with complete public data, about 17.6 thousand tonnes. That ranks it 48th of 150 countries worldwide, with 0% of world exports. The value was down 42% on 2023.
Which countries buy copper ingots from Nigeria?
China was the largest buyer with 37% of the value ($42.5 million), followed by Japan (36%) and South Korea (21%). The top three together account for 94%, out of 16 buyer countries in total. The United States grew fastest among the top ten, up 107% on the year.
What is the average export price of copper ingots per kg?
The average declared export value was about $6.58 per kg in 2024, 28% below the world average of $9.12 per kg. Declared value divided by weight mixes every grade, so read it as a benchmark rather than a quote.
How have exports of copper ingots from Nigeria changed since 2017?
Exports went from $6.8 million in 2017 to $116.0 million in 2024. The peak was 2023 at $199.5 million. Over 8 years the average was $71.4 million a year.
Does Nigeria also import copper ingots?
Yes. Nigeria imported $413 thousand worth of this product in 2024, mainly from Italy, India and Egypt. On balance Nigeria is a net exporter of this product, by about $115.6 million a year.
What is the HS code for copper ingots?
The HS code for copper ingots is heading 7403. In Nigeria the largest six-digit codes were 7403.21 (44% of the value) and 7403.11 (38%).
How can I find the companies behind this trade?
EximDataX has a direct customs feed for Nigeria, so the importers and exporters behind these totals are visible by name, shipment by shipment. Ask for a live look at your product.
Same product, other countries
Copper ingots product types in Nigeria
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