Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia - 2024
Contents:
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia (FOB) - 2024
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia (CIF) - 2024
- Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia
- Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia (FOB) - 2024
The average export price for iron or non-alloy steel wire, plated or coated with zincs stood at $935 per ton in January 2024, standing approximately at the previous month. Over the period under review, the export price, however, showed a mild shrinkage. The most prominent rate of growth was recorded in November 2023 when the average export price increased by 10% month-to-month. The export price peaked at $1,048 per ton in March 2023; however, from April 2023 to January 2024, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Vietnam ($1,331 per ton), while the average price for exports to Japan ($806 per ton) was amongst the lowest.
From March 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+1.3%), while the prices for the other major destinations experienced a decline.
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia (CIF) - 2024
In January 2024, the average import price for iron or non-alloy steel wire, plated or coated with zincs amounted to $722 per ton, with a decrease of -3.6% against the previous month. Overall, the import price showed a mild shrinkage. The pace of growth appeared the most rapid in October 2023 when the average import price increased by 2,891% m-o-m. As a result, import price reached the peak level of $23,887 per ton. From November 2023 to January 2024, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was Thailand ($1,700 per ton), while the price for China stood at $710 per ton.
From March 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Thailand (+2.6%).
Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia
In 2022, the amount of iron or non-alloy steel wire, plated or coated with zincs exported from Malaysia reduced to 52K tons, falling by -14% on the previous year. In general, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 43%.
In value terms, exports of iron or non-alloy steel wire, plated or coated with zincs contracted to $60M in 2022. Overall, total exports indicated perceptible growth from 2019 to 2022: its value increased at an average annual rate of +2.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 90%. As a result, the exports attained the peak of $66M, and then shrank in the following year.
| Export of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 24.0 | 18.9 | 36.7 | 33.9 | 12.2% |
| Indonesia | 5.8 | 1.7 | 8.3 | 7.6 | 9.4% |
| Thailand | 6.1 | 2.7 | 5.7 | 5.8 | -1.7% |
| New Zealand | 0.3 | 0.3 | 3.2 | 3.6 | 128.9% |
| Philippines | 1.0 | 0.7 | 2.5 | 2.7 | 39.2% |
| United States | 1.8 | 1.0 | 1.9 | 2.5 | 11.6% |
| Vietnam | 0.4 | 0.6 | 0.4 | 1.5 | 55.4% |
| India | 9.6 | 5.6 | 3.2 | N/A | -42.3% |
| Others | 6.3 | 3.2 | 4.1 | 2.7 | -24.6% |
| Total | 55.3 | 34.6 | 65.9 | 60.2 | 2.9% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc from Malaysia in 2022:
- Australia (31.7K tons)
- Indonesia (6.6K tons)
- Thailand (3.1K tons)
- New Zealand (2.9K tons)
- Philippines (2.3K tons)
- United States (2.1K tons)
- Vietnam (1.2K tons)
Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia
Imports of iron or non-alloy steel wire, plated or coated with zincs into Malaysia skyrocketed to 50K tons in 2022, picking up by 41% against 2021. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +13.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.4% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of iron or non-alloy steel wire, plated or coated with zincs surged to $53M in 2022. In general, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +19.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 24.5 | 29.0 | 29.1 | 44.0 | 21.6% |
| Thailand | 2.9 | 1.3 | 4.0 | 3.6 | 7.5% |
| Vietnam | N/A | N/A | 1.0 | 1.6 | 60.0% |
| Taiwan (Chinese) | 0.5 | 0.3 | 1.0 | 1.2 | 33.9% |
| Indonesia | 2.3 | 2.0 | 0.9 | 0.8 | -29.7% |
| Others | 0.7 | 0.6 | 2.1 | 1.3 | 22.9% |
| Total | 30.8 | 33.2 | 38.3 | 52.6 | 19.5% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc to Malaysia in 2022:
- China (43.6K tons)
- Thailand (2.5K tons)
- Vietnam (1.8K tons)
- Taiwan (Chinese) (0.9K tons)
- Indonesia (0.7K tons)
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