Do you know that when we talk about construction materials, Binding wire is one of the most important tools needed to hold everything in place.
During construction, Binding wire is used to hold reinforcing bars in place, secure electrical cables and tying wire mesh.
As we move into 2023, It is very important for you to understand the current pricing trends of binding wire in Nigeria. In this article, we will discuss and list the current price of binding wire.
But before we dive straight into the updated price list in Nigeria for 2023, You need to know there are some factors that affect the price of binding wire.
Factors Affecting Binding Wire Prices in Nigeria
The following are the major factors that can influence the price of binding wire globally:
1. Market Demand:
The higher the demand, the lower the supply. The market demand can influence the price of binding wire because the price may increase due to the limited supply.
2. Exchange Rates:
Currently, the Nigerian currency is weakened against most major currencies such as USD and EUR. In other words, the fluctuation in exchange rates can spike up the price of binding wire.
3. Expensive Raw Material:
You need to know that when there is an increase in raw materials price, the price of binding wires will also increase. Before you complain about the current price of binding wire, you need to make sure you do some background checks on the listed major influence that determine the global price.
Latest Binding Wire Price in Nigeria
Most readers are after the pricing list, So we already made our research by contacting some of the popular building materials stores in Nigeria.
Always keep in mind that the prices may differ and that depends on your choice of store. The price list provided in this article are just estimates.
• 1kg Binding Wire (1.6mm – 1.8mm): ₦10,000 – ₦17,000
• 25kg Binding wire: ₦30,000 – ₦42,000
• 10kg Stiff Binding wire: ₦15,000 – ₦30,000
Binding Wire Price List – PER TONS
• 1mm Binding wire: ₦155,000 – ₦165,000
• 1.2mm Binding wire: ₦165,000 – ₦175,000
• 1.5mm Binding wire: ₦185,000
• 2mm Stiff Binding wire: ₦190,000 – ₦200,000
Kindly remember that these prices can fluctuate depending on the factors mentioned earlier. So be sure to make inquiries by visiting popular building material stores in your area.
Where To Buy Binding Wire in Nigeria
There are several options available for you, If you are currently looking for a place to buy binding wire in Nigeria. Here are some of the places you can check out and purchase cheap binding wire in Nigeria:
1. Steel Manufacturing Companies:
If you are lucky to have a steel manufacturing company in your area, you can directly purchase binding wire from the company. Popular steel manufacturing companies in Nigeria include Dangote Steel, BUA Group and African Industries.
2. Online Stores:
Another great option is to try buying binding wires from online stores in Nigeria. You can even be lucky enough to get a free delivery, If you take your time exploring konga, Jumia or Jiji.
3. Building Materials Markets:
Alaba International Market in Lagos is a place where you can get almost everything you need. These markets usually have a wide range of binding wires in different sizes and even shapes.
4. Hardware Stores:
Most hardware stores in Nigeria still sell binding wire. In these stores, you can speak with professionals that will give you advice on which binding wire is best suited for your projects. You can check out some of the popular stores such as Leventis, Ashaka Cement and Building Marts.
When trying to buy binding wire in Nigeria, it is essential that you are buying from a reputable supplier to ensure that you are getting the best quality wire.
Also, make sure you try comparing prices from different suppliers so that you can get the best deal.
Conclusion
After reading this article, you know that it is crucial to always keep track of the binding wire prices. This way you can always plan your purchases accordingly.
In Nigeria, the construction industry is currently booming, which has led to an increase in demand for building materials.
So if you are a contractor currently working on your project, we believe this post on binding wire price list has helped you create a budget for your project.