Price for Iron or Steel; Cast Articles in Azerbaijan - 2023

Contents:

1. Price for Iron or Steel; Cast Articles in Azerbaijan (FOB) - 2022
2. Price for Iron or Steel; Cast Articles in Azerbaijan (CIF) - 2022
3. Exports of Iron or Steel; Cast Articles in Azerbaijan
4. Imports of Iron or Steel; Cast Articles in Azerbaijan

Price for Iron or Steel; Cast Articles in Azerbaijan (FOB) - 2022

In 2022, the average export price for iron or steel; cast articleses amounted to $1,570 per ton, with an increase of 15% against the previous year. Overall, the export price posted a pronounced expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 503%. The export price peaked at $7,742 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($1,583 per ton) and Georgia ($1,564 per ton), while the average price for exports to Turkey ($1,131 per ton) and Finland ($1,525 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+7.0%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Iron or Steel; Cast Articles in Azerbaijan (CIF) - 2022

In 2022, the average import price for iron or steel; cast articleses amounted to $2,940 per ton, falling by -16.1% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 67%. As a result, import price attained the peak level of $3,505 per ton, and then fell notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($7,967 per ton), while the price for India ($1,704 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Iron or Steel; Cast Articles in Azerbaijan

For the fourth year in a row, Azerbaijan recorded growth in overseas shipments of iron or steel; cast articleses, which increased by 31% to 3.3K tons in 2022. In general, exports saw significant growth. The pace of growth was the most pronounced in 2020 with an increase of 42% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, iron or steel; cast articles exports soared to $5.3M in 2022. Over the period under review, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Iron or Steel; Cast Articles from Azerbaijan in 2022:

1. Russia (2305.3 tons)
2. Georgia (736.1 tons)
3. Turkey (181.4 tons)
4. Finland (64.3 tons)

Imports of Iron or Steel; Cast Articles in Azerbaijan

In 2022, the amount of iron or steel; cast articleses imported into Azerbaijan skyrocketed to 1.5K tons, increasing by 109% on the year before. In general, imports showed a strong expansion.

In value terms, iron or steel; cast articles imports skyrocketed to $4.3M in 2022. Overall, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +15.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Iron or Steel; Cast Articles to Azerbaijan in 2022:

1. India (604.5 tons)
2. Turkey (454.6 tons)
3. China (225.2 tons)
4. Russia (44.7 tons)
5. Germany (32.8 tons)
6. Egypt (24.0 tons)
7. Thailand (0.1 tons)

Source: IndexBox Market Intelligence Platform