Price for Steel, Stainless; Ingots and Other Primary Forms in China - 2023
Contents:
- Price for Steel, Stainless; Ingots and Other Primary Forms in China (CIF) - 2023
- Price for Steel, Stainless; Ingots and Other Primary Forms in China (FOB) - 2022
- Imports of Steel, Stainless; Ingots and Other Primary Forms in China
- Exports of Steel, Stainless; Ingots and Other Primary Forms in China
Price for Steel, Stainless; Ingots and Other Primary Forms in China (CIF) - 2023
The average import price for steel, stainless; ingots and other primary formses stood at $1,624 per ton in December 2023, flattening at the previous month. Overall, the import price showed a pronounced descent. The most prominent rate of growth was recorded in July 2023 when the average import price increased by 9.5% m-o-m. Over the period under review, average import prices attained the maximum at $2,327 per ton in December 2022; however, from January 2023 to December 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Taiwan (Chinese) ($2,695 per ton), while the price for Indonesia ($1,236 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel, Stainless; Ingots and Other Primary Forms in China (FOB) - 2022
The average export price for steel, stainless; ingots and other primary formses stood at $4,026 per ton in 2022, falling by -43.4% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 200%. Over the period under review, the average export prices reached the maximum at $12,533 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($25,560 per ton), while the average price for exports to the United States ($2,860 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 the United Arab Emirates (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Stainless; Ingots and Other Primary Forms in China
In 2022, purchases abroad of steel, stainless; ingots and other primary formses decreased by -18.7% to 6.2K tons, falling for the second year in a row after two years of growth. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +10.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -29.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 93% against the previous year. As a result, imports attained the peak of 8.7K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of steel, stainless; ingots and other primary formses reduced to $18M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +15.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.3% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 47%.
| Import of Steel, Stainless; Ingots and Other Primary Forms in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 4.9 | 4.0 | 9.8 | 7.9 | 17.3% |
| Vietnam | 0.1 | 7.3 | 4.6 | 5.3 | 275.6% |
| Japan | 1.0 | 1.4 | 2.0 | 2.8 | 40.9% |
| Sweden | N/A | 1.4 | 2.0 | 1.0 | -15.5% |
| Germany | 4.1 | 2.6 | 0.5 | 0.1 | -71.0% |
| Others | 1.7 | 0.4 | 2.1 | 0.9 | -19.1% |
| Total | 11.7 | 17.2 | 21.1 | 18.0 | 15.4% |
Top Suppliers of Steel, Stainless; Ingots and Other Primary Forms to China in 2022:
- Vietnam (3.0K tons)
- Taiwan (Chinese) (2.6K tons)
- Sweden (0.2K tons)
- Japan (0.2K tons)
Exports of Steel, Stainless; Ingots and Other Primary Forms in China
Exports of steel, stainless; ingots and other primary formses from China surged to 106 tons in 2022, increasing by 133% compared with the previous year's figure. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 948% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of steel, stainless; ingots and other primary formses surged to $427K in 2022. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 481%. As a result, the exports reached the peak of $530K. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Steel, Stainless; Ingots and Other Primary Forms in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.7 | 59.9 | 190 | 245 | 349.4% |
| United Arab Emirates | 58.4 | 1.2 | 54.0 | 79.2 | 10.7% |
| Singapore | 0.4 | 0.1 | 35.0 | 45.0 | 382.7% |
| Vietnam | 1.1 | 2.1 | 20.8 | 26.7 | 189.5% |
| South Korea | 8.4 | 10.3 | 13.0 | 17.1 | 26.7% |
| Taiwan (Chinese) | N/A | 211 | 3.3 | N/A | -98.4% |
| Iran | N/A | 80.3 | N/A | N/A | 0% |
| Others | 20.1 | 165 | 8.5 | 14.4 | -10.5% |
| Total | 91.2 | 530 | 325 | 427 | 67.3% |
Top Export Markets for Steel, Stainless; Ingots and Other Primary Forms from China in 2022:
- United States (85.6 tons)
- United Arab Emirates (10.5 tons)
- Vietnam (5.8 tons)
- Singapore (1.8 tons)
- South Korea (1.6 tons)
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