Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana - 2023
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana (FOB) - 2022
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana (FOB) - 2022
The average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $2,641 per ton in 2022, with an increase of 4.6% against the previous year. Over the period under review, the export price continues to indicate a notable increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 85%. The export price peaked in 2022 and is likely to continue growth in the near future.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($2,543 per ton), while the average price for exports to India ($1,433 per ton) was amongst the lowest.
From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+37.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana (CIF) - 2022
The average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $723 per ton in 2022, falling by -3.3% against the previous year. In general, the import price continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2013 an increase of 24%. As a result, import price reached the peak level of $1,060 per ton. From 2014 to 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Iran ($732 per ton), while the price for Angola stood at $484 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Angola (+16.6%).
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana
After two years of decline, shipments abroad of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s decreased by -79.3% to 574 tons in 2022. Overall, exports, however, showed a significant expansion.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s reduced markedly to $1.5M in 2022. In general, exports, however, recorded significant growth.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | N/A | N/A | 2,804 | 409 | -85.4% |
| China | N/A | N/A | 370 | 199 | -46.2% |
| India | 0.1 | N/A | 211 | 196 | 1151.5% |
| United Kingdom | 0.1 | N/A | 111 | 88.5 | 860.1% |
| Others | N/A | N/A | 3,508 | 622 | -82.3% |
| Total | 0.2 | N/A | 7,006 | 1,515 | 1863.9% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from Ghana in 2022:
- Japan (160.7 tons)
- India (136.9 tons)
- China (78.3 tons)
- United Kingdom (45.6 tons)
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana
In 2022, after two years of decline, there was significant decline in overseas purchases of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s, when their volume decreased by -95.5% to 21 tons. Over the period under review, imports, however, saw a prominent expansion.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s contracted notably to $15K in 2022. Overall, imports, however, saw a significant increase.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Iran | 7.0 | N/A | 350 | 14.7 | 28.1% |
| Angola | 0.1 | N/A | N/A | 0.4 | 58.7% |
| Others | N/A | N/A | 0.7 | N/A | 0% |
| Total | 7.1 | N/A | 350 | 15.1 | 28.6% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to Ghana in 2022:
- Iran (20.1 tons)
- Angola (0.7 tons)
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