Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK - 2023
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK (FOB) - 2022
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK (FOB) - 2022
The average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $7,071 per ton in 2022, picking up by 69% against the previous year. Overall, the export price enjoyed a resilient increase. The growth pace was the most rapid in 2015 an increase of 421%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($16,102 per ton), while the average price for exports to Saudi Arabia ($1,880 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+445.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK (CIF) - 2022
The average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $1,240 per ton in 2022, shrinking by -6.5% against the previous year. Over the period under review, the import price, however, posted a modest increase. The pace of growth was the most pronounced in 2015 an increase of 96% against the previous year. As a result, import price attained the peak level of $2,046 per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($1,339 per ton), while the price for France ($1,165 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK
After three years of growth, overseas shipments of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s decreased by -31.6% to 268 tons in 2022. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 224% against the previous year.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s soared to $1.9M in 2022. In general, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 197% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 30.6 | 32.3 | 8.6 | 992 | 218.9% |
| France | 81.2 | 116 | 173 | 292 | 53.2% |
| Spain | N/A | N/A | 1.7 | 179 | 10429.4% |
| Italy | 27.4 | 10.1 | 77.2 | 174 | 85.2% |
| Ireland | N/A | N/A | 25.0 | 45.6 | 82.4% |
| Taiwan (Chinese) | 83.8 | 441 | 848 | 38.7 | -22.7% |
| Sweden | 17.5 | 312 | 139 | 18.0 | 0.9% |
| Saudi Arabia | 7.8 | 8.4 | 16.6 | 17.6 | 31.2% |
| Others | 91.1 | 88.5 | 350 | 140 | 15.4% |
| Total | 339 | 1,008 | 1,639 | 1,896 | 77.5% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from the UK in 2022:
- France (95.6 tons)
- United States (61.6 tons)
- Italy (43.5 tons)
- Ireland (20.6 tons)
- Spain (18.9 tons)
- Saudi Arabia (9.4 tons)
- Taiwan (Chinese) (7.3 tons)
- Sweden (5.3 tons)
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK
In 2022, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s into the UK surged to 931 tons, jumping by 458% on the previous year's figure. Overall, imports showed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s soared to $1.2M in 2022. Over the period under review, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | N/A | N/A | N/A | 831 | 0% |
| China | 51.6 | 207 | 100 | 248 | 68.8% |
| Poland | 738 | 511 | 62.5 | 40.8 | -61.9% |
| Sweden | N/A | 76.5 | N/A | N/A | 0% |
| Others | 26.3 | 6.6 | 58.6 | 35.8 | 10.8% |
| Total | 816 | 802 | 222 | 1,155 | 12.3% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to the UK in 2022:
- France (713.3 tons)
- China (185.2 tons)
- Poland (31.1 tons)
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