Steel rods are essential in any building project. They are required from the foundation stage of a building project up until the finishing part of a building. It’s possible to have a house structure standing firm without using steel rods, especially good ones.
As such, there are various types of steel rods in the Nigerian market, and it’s important to have an idea of the one you’ll require at various stages of your building project. Now, how much do these various steel rods cost presently in the Nigerian building materials market?
Below, you’ll find the various types of steel rods in Nigeria, their prices, and important tips about buying them for your home-building project.
Prices Of Steel Rods In Nigeria (2023)
Steel rods in the market are categorized under four major types. They are:
- Pre-stressing steel
- Mild steel plain bars
- Cold-worked steel
- Hot-rolled deformed bars
The prices of steel or iron rods depend on which category of rods you are buying. The prices also depend on a per unit or per ton purchase of these rods. Below is the price list of steel rods in the Nigerian market today:
|Steel Rods||Current Price In Nigeria|
|6 mm steel rods||1,2000 – 1,300 Naira|
|6 mm steel rod per ton (376 pieces)||451,200 – 488,800 Naira|
|8 mm steel rods per unit||2,100 – 2,200 Naira|
|8 mm steel rods per ton (210 pieces)||441,000 – 462,000 Naira|
|10 mm steel rods per unit||3,300 – 3,500 Naira|
|10 mm steel rods per ton (134 pieces)||442,200 – 469,000 Naira|
|12 mm steel rods per unit||4,800 – 5,000 Naira|
|12 mm steel rods per ton (93 pieces)||446,400 – 465,000 Naira|
|16 mm steel rods per unit||8,500 – 8,700 Naira|
|16 mm steel rods per ton (52 pieces)||442,000 – 452,400 Naira|
|20 mm steel rods per unit||13,000 – 14,000 Naira|
|20 mm steel rods per ton||442,000 – 476,000 Naira|
|25 mm steel rods per unit||21,000 – 22,000 Naira|
|25 mm steel rods per ton||441,000 – 462,000 Naira|
|30 mm steel rods per unit||30,500 – 31,500 Naira|
|30 mm steel rods per ton (15 pieces)||457,000 – 472,000 Naira|
Note: These prices might change depending on the increase of the dollar rate in the Nigerian market. In that case, we’ll continue to update the price list. So, use this list for an estimate before entering the market.
Here Are The Factors That Affects The Prices Of Steel (Iron) Rods In The Nigerian Market
many factors impact the price of steel rods in the Nigerian market. It’s not just an increase in dollar rates. So, below are some of the important things that’ll increase the price of a steel rod in the market.
- Quality of the Product
The price you get on a rod depends on the quality of the rod you’re buying. Above, we outlined the four categories of rods you’ll find in the market. Each of those four categories will affect how much the rod will be sold to you in the market.
- Importation Duties
Steel rods are imported outside of Nigeria, and the importers pay an exorbitant sum just to clear their products in the country. So, the more import duties increase, the higher the number of certain rods in the market.
- Location of Purchase
The price you’ll get a steel rod in Lagos, Nigeria is not the same price you’ll get the rod in Abia state. Lagos is where the cost of these rods is sometimes affordable compared to other states. Why? Because these rods are imported directly into Lagos. However, sometimes it’s also expensive in Lagos because real estate is very lucrative in Lagos state.
These are the prices for various steel rods that will be sold to you in the Nigerian market. Also, note that they are capable of changing. The factors above will remind you why these prices increase occasionally.