Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Azerbaijan - 2024

Contents:

1. Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Azerbaijan (CIF) - 2024
2. Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Azerbaijan (FOB) - 2022
3. Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Azerbaijan
4. Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Azerbaijan

Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Azerbaijan (CIF) - 2024

The average import price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses stood at $592 per ton in July 2023, reducing by -5.9% against the previous month. Over the period under review, the import price recorded a perceptible downturn. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 9.7% m-o-m. As a result, import price attained the peak level of $677 per ton. From June 2023 to July 2023, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Turkey ($1,674 per ton), while the price for Russia ($587 per ton) was amongst the lowest.

From February 2023 to July 2023, the most notable rate of growth in terms of prices was attained by Turkey (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Azerbaijan (FOB) - 2022

In 2022, the average export price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses amounted to $836 per ton, picking up by 16% against the previous year. In general, the export price recorded a tangible increase. The pace of growth was the most pronounced in 2021 when the average export price increased by 57%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($1,268 per ton), while the average price for exports to Georgia amounted to $701 per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+157.1%).

Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Azerbaijan

In 2022, after two years of decline, there was significant growth in purchases abroad of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses, when their volume increased by 41% to 36K tons. Over the period under review, imports, however, showed a deep reduction.

In value terms, imports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses soared to $28M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +8.5% 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 +49.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils to Azerbaijan in 2022:

1. Russia (21.4K tons)
2. Iran (10.9K tons)
3. Turkey (2.1K tons)
4. Belarus (1.5K tons)

Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Azerbaijan

Exports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses from Azerbaijan contracted sharply to 93 tons in 2022, shrinking by -93.8% against the previous year. In general, exports recorded a sharp shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 29%.

In value terms, exports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses contracted notably to $77K in 2022. Overall, exports faced a precipitous curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 101% against the previous year. As a result, the exports reached the peak of $1.1M, and then contracted remarkably in the following year.

Top Export Markets for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils from Azerbaijan in 2022:

1. Georgia (70.6 tons)
2. Turkey (22.0 tons)

Source: IndexBox Market Intelligence Platform