Price for Iron and Non-Alloy Steel in Ingot in Malaysia - 2023
Contents:
- Price for Iron and Non-Alloy Steel in Ingot in Malaysia (CIF) - 2022
- Price for Iron and Non-Alloy Steel in Ingot in Malaysia (FOB) - 2022
- Imports of Iron and Non-Alloy Steel in Ingot in Malaysia
- Exports of Iron and Non-Alloy Steel in Ingot in Malaysia
Price for Iron and Non-Alloy Steel in Ingot in Malaysia (CIF) - 2022
In 2022, the average import price for iron and non-alloy steel in ingots amounted to $3,689 per ton, with an increase of 27% against the previous year. Over the period under review, the import price showed resilient growth. The growth pace was the most rapid in 2019 when the average import price increased by 185%. As a result, import price reached the peak level of $3,961 per ton. From 2020 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($7,440 per ton), while the price for Thailand ($1,082 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+29.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron and Non-Alloy Steel in Ingot in Malaysia (FOB) - 2022
In 2022, the average export price for iron and non-alloy steel in ingots amounted to $2,060 per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price recorded a pronounced setback. The most prominent rate of growth was recorded in 2019 an increase of 132%. The export price peaked at $2,655 per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 United States ($9,053 per ton), while the average price for exports to Brunei Darussalam ($223 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 China (+29.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron and Non-Alloy Steel in Ingot in Malaysia
In 2022, approx. 1.4K tons of iron and non-alloy steel in ingots were imported into Malaysia; jumping by 245% on the year before. Overall, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of iron and non-alloy steel in ingots soared to $5.1M in 2022. In general, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Iron and Non-Alloy Steel in Ingot in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 343 | 273 | 291 | 4,837 | 141.6% |
| United States | 210 | 32.1 | 158 | 100 | -21.9% |
| Thailand | N/A | N/A | N/A | 28.3 | 0% |
| Singapore | 8.4 | 3.8 | 75.5 | 19.8 | 33.1% |
| Russia | N/A | N/A | 583 | N/A | 0% |
| Others | 407 | 35.5 | 47.2 | 68.2 | -44.9% |
| Total | 968 | 344 | 1,155 | 5,053 | 73.5% |
Top Suppliers of Iron and Non-Alloy Steel in Ingot to Malaysia in 2022:
- China (1298.7 tons)
- United States (33.0 tons)
- Thailand (26.1 tons)
- Singapore (7.5 tons)
Exports of Iron and Non-Alloy Steel in Ingot in Malaysia
In 2022, overseas shipments of iron and non-alloy steel in ingots decreased by 0% to 48 tons, falling for the second year in a row after two years of growth. Over the period under review, exports faced a sharp contraction. The most prominent rate of growth was recorded in 2020 with an increase of 52% against the previous year. As a result, the exports attained the peak of 4.6K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of iron and non-alloy steel in ingots stood at $99K in 2022. In general, exports faced a precipitous decrease. The pace of growth was the most pronounced in 2020 with an increase of 138% against the previous year. As a result, the exports attained the peak of $7M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Iron and Non-Alloy Steel in Ingot in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 51.2 | N/A | N/A | 47.1 | -2.7% |
| United States | N/A | N/A | N/A | 20.5 | 0% |
| Singapore | 51.5 | 69.6 | N/A | 18.9 | -28.4% |
| Brunei Darussalam | N/A | 3.7 | N/A | 3.8 | 1.3% |
| Poland | N/A | N/A | N/A | 1.5 | 0% |
| China | 2,006 | 6,868 | N/A | N/A | 242.4% |
| Vietnam | 655 | 60.1 | N/A | N/A | -90.8% |
| Others | 190 | 26.9 | N/A | 6.8 | -67.0% |
| Total | 2,953 | 7,028 | N/A | 98.6 | -67.8% |
Top Export Markets for Iron and Non-Alloy Steel in Ingot from Malaysia in 2022:
- Brunei Darussalam (17.0 tons)
- India (13.3 tons)
- Singapore (12.4 tons)
- United States (2.3 tons)
- Poland (1.1 tons)
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