Price for Iron and Non-Alloy Steel in Ingot in Hungary - 2023
Contents:
- Price for Iron and Non-Alloy Steel in Ingot in Hungary (FOB) - 2023
- Price for Iron and Non-Alloy Steel in Ingot in Hungary (CIF) - 2022
- Exports of Iron and Non-Alloy Steel in Ingot in Hungary
- Imports of Iron and Non-Alloy Steel in Ingot in Hungary
Price for Iron and Non-Alloy Steel in Ingot in Hungary (FOB) - 2023
In September 2023, the average export price for iron and non-alloy steel in ingots amounted to $3,660 per ton, growing by 8.6% against the previous month. Over the period from September 2022 to September 2023, it increased at an average monthly rate of +1.7%. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 11% month-to-month. Over the period under review, the average export prices hit record highs in September 2023.
Prices varied noticeably by the country of destination: the country with the highest price was Romania ($8,291 per ton), while the average price for exports to Serbia ($2,357 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron and Non-Alloy Steel in Ingot in Hungary (CIF) - 2022
In 2022, the average import price for iron and non-alloy steel in ingots amounted to $1,554 per ton, picking up by 38% against the previous year. Overall, the import price recorded notable growth. The growth pace was the most rapid in 2018 an increase of 14,673%. As a result, import price attained the peak level of $3,304 per kg. From 2019 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($6,607 per ton), while the price for Poland ($1,158 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+23.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron and Non-Alloy Steel in Ingot in Hungary
After three years of growth, shipments abroad of iron and non-alloy steel in ingots decreased by -5% to 2K tons in 2022. Over the period under review, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 180% against the previous year.
In value terms, exports of iron and non-alloy steel in ingots expanded rapidly to $5.8M in 2022. The total export value increased at an average annual rate of +4.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 41% 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.
| Export of Iron and Non-Alloy Steel in Ingot in Hungary (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Serbia | 1,169 | 967 | 1,229 | 1,787 | 15.2% |
| Slovenia | 1,578 | 1,280 | 1,955 | 1,769 | 3.9% |
| Italy | 547 | 469 | 494 | 729 | 10.0% |
| Czech Republic | 259 | 245 | 405 | 464 | 21.5% |
| Romania | 342 | 331 | 548 | 362 | 1.9% |
| Germany | 240 | 200 | 239 | 206 | -5.0% |
| Croatia | 111 | 113 | 173 | 183 | 18.1% |
| Austria | 554 | 104 | 238 | 40.3 | -58.3% |
| Others | 341 | 211 | 242 | 307 | -3.4% |
| Total | 5,141 | 3,920 | 5,523 | 5,849 | 4.4% |
Top Export Markets for Iron and Non-Alloy Steel in Ingot from Hungary in 2022:
- Slovenia (664.2 tons)
- Serbia (648.1 tons)
- Italy (249.7 tons)
- Czech Republic (176.1 tons)
- Romania (75.6 tons)
- Germany (67.5 tons)
- Croatia (60.4 tons)
- Austria (8.5 tons)
Imports of Iron and Non-Alloy Steel in Ingot in Hungary
In 2022, after three years of growth, there was significant decline in purchases abroad of iron and non-alloy steel in ingots, when their volume decreased by -11.4% to 2K tons. In general, imports, however, showed significant growth. The pace of growth was the most pronounced in 2020 with an increase of 1,209%.
In value terms, imports of iron and non-alloy steel in ingots skyrocketed to $3.2M in 2022. Overall, total imports indicated a temperate increase from 2019 to 2022: its value increased at an average annual rate of +2.6% 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 +68.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 37% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the immediate term.
| Import of Iron and Non-Alloy Steel in Ingot in Hungary (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 1,465 | 787 | 1,130 | 1,154 | -7.6% |
| Finland | 592 | 635 | 658 | 749 | 8.2% |
| Austria | 25.9 | N/A | 1.3 | 550 | 176.9% |
| Germany | 173 | 329 | 722 | 524 | 44.7% |
| Slovenia | 250 | 18.5 | 21.1 | 78.0 | -32.2% |
| Others | 425 | 115 | 53.8 | 111 | -36.1% |
| Total | 2,929 | 1,884 | 2,587 | 3,166 | 2.6% |
Top Suppliers of Iron and Non-Alloy Steel in Ingot to Hungary in 2022:
- Poland (996.6 tons)
- Germany (378.4 tons)
- Austria (225.3 tons)
- Finland (131.0 tons)
- Slovenia (30.5 tons)
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