Nigeria’s aluminium plates, sheets and strips import during 2019-21 signifies a volatile trend

Aluminium with thickness from 0.008 inches to less than 0.25 inches thick is considered sheet, while thinner aluminium is foil and aluminium 0.250 inches and thicker is known as a plate. However, cold-rolled aluminium material less than 5.00 mm in thickness and under 600 mm in width is termed as strips. Aluminium plate is very much used for storage tanks in many industries in part because some aluminium alloys gain strength at extremely cold temperatures. Furthermore, aluminium sheet metal is a uniquely versatile metal sheet that has numerous applications in the modern world.

The largest economy in the African continent with an aggregate GDP of $468.6 billion, according to World Bank, Nigeria imported 264,565 tonnes of aluminium plates, sheets and strips during 2019-20 incurring an expenditure of $572.13 million.

Nigeria being the most populated African country, registered import of 135,320 tonnes of aluminium plates, sheets and strips in 2019 and expenditure accounted for the import was $300.10 million, whereas, in 2020 the import revealed a dip by 4.48%, as the import volume plunged to 129,245 tonnes with expenditure also dropped to $272.03 million.

The West African nation’s import of aluminium plates, sheets and strips in 2021 is evaluated with growth by 27.94%, as the import volume is predicted to rise at 165,359 tonnes and expenditure to surge $467.40 million.

The major trading destinations for Nigeria’s import of aluminium plates, sheets and strips are Belgium, Brazil, China, Germany, Hong Kong, India, Netherlands, Poland, Saudi Arabia, South Korea, UAE, USA, etc.