Singapore - Wire Rod Of Free-Cutting Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Free-Cutting Steel Wire Rod in Singapore - 2022
Contents:
- Price for Free-Cutting Steel Wire Rod in Singapore (CIF) - 2022
- Price for Free-Cutting Steel Wire Rod in Singapore (FOB) - 2022
- Imports of Free-Cutting Steel Wire Rod in Singapore
- Exports of Free-Cutting Steel Wire Rod in Singapore
Price for Free-Cutting Steel Wire Rod in Singapore (CIF) - 2022
In September 2022, the average free-cutting steel wire rod import price amounted to $3,855 per ton, reducing by -28.1% against the previous month. Overall, the import price showed a noticeable downturn. The most prominent rate of growth was recorded in February 2022 when the average import price increased by 1,315% against the previous month. As a result, import price reached the peak level of $37,769 per ton. From March 2022 to September 2022, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Taiwan (Chinese) ($36,673 per ton), while the price for Japan stood at $2,233 per ton.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Free-Cutting Steel Wire Rod in Singapore (FOB) - 2022
The average free-cutting steel wire rod export price stood at $1,148 per ton in 2022, surging by 1.8% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 106%. As a result, the export price attained the peak level of $1,344 per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($7,194 per ton), while the average price for exports to Indonesia ($1,075 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 Philippines (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Free-Cutting Steel Wire Rod in Singapore
For the third year in a row, Singapore recorded decline in purchases abroad of wire rod of free-cutting steel, which decreased by -27% to 979 tons in 2022. Over the period under review, imports saw a sharp slump.
In value terms, free-cutting steel wire rod imports totaled $2.9M in 2022. In general, imports showed a abrupt downturn.
Import of Free-Cutting Steel Wire Rod in Singapore (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Taiwan (Chinese) | 2,011 | 1,473 | 1,694 | 1,536 | -8.6% |
Japan | 462 | 166 | 215 | 1,107 | 33.8% |
South Korea | 561 | 1,126 | 839 | 217 | -27.1% |
China | 2,186 | 2.0 | 9.2 | 7.8 | -84.7% |
Malaysia | 192 | 184 | 110 | N/A | -24.3% |
Others | 37.5 | 8.6 | 0.5 | 4.8 | -49.6% |
Total | 5,449 | 2,961 | 2,868 | 2,873 | -19.2% |
Top Suppliers of Free-Cutting Steel Wire Rod to Singapore in 2022:
- Japan (734.6 tons)
- South Korea (185.0 tons)
- Taiwan (Chinese) (53.6 tons)
- China (5.3 tons)
Exports of Free-Cutting Steel Wire Rod in Singapore
In 2022, the amount of wire rod of free-cutting steel exported from Singapore reached 406 tons, standing approx. at the previous year. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +15.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -15.9% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 81% against the previous year. As a result, the exports reached the peak of 483 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, free-cutting steel wire rod exports reached $466K in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +14.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -23.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 98% against the previous year. As a result, the exports attained the peak of $607K. From 2021 to 2022, the growth of the exports failed to regain momentum.
Export of Free-Cutting Steel Wire Rod in Singapore (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Indonesia | 210 | 283 | 418 | 430 | 27.0% |
British Indian Ocean Territory | N/A | 141 | N/A | N/A | 0% |
Others | 97.4 | 183 | 37.5 | 35.9 | -28.3% |
Total | 307 | 607 | 455 | 466 | 14.9% |
Top Export Markets for Free-Cutting Steel Wire Rod from Singapore in 2022:
- Indonesia (400.3 tons)
This report provides an in-depth analysis of the market for free-cutting steel wire rod in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24106120 - Wire rod of free-cutting steel
Country coverage:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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