Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Iran - 2022
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Iran (FOB) - 2022
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Iran (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Iran
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Iran
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Iran (FOB) - 2022
The average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $548 per ton in 2022, declining by -8.7% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s increased by +78.9% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of 49% against the previous year. As a result, the export price reached the peak level of $600 per ton, and then declined in the following year.
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 Jordan ($1,136 per ton), while the average price for exports to Oman ($376 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 (+14.5%), 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 Iran (CIF) - 2022
The average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $999 per ton in 2022, surging by 20% against the previous year. In general, the import price posted a strong expansion. The pace of growth was the most pronounced in 2017 an increase of 55%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Cyprus ($16,027 per ton), while the price for Azerbaijan ($556 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cyprus (+39.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Iran
In 2022, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s from Iran reached 5.8M tons, increasing by 1.6% on the year before. The total export volume increased at an average annual rate of +7.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s reduced to $3.2B in 2022. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 82% against the previous year. As a result, the exports reached the peak of $3.4B, and then dropped in the following year.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Iran (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 131 | 355 | 862 | 798 | 82.6% |
| Ghana | 80.2 | 66.6 | 228 | 211 | 38.0% |
| Thailand | 179 | 208 | 207 | 192 | 2.4% |
| United Arab Emirates | 23.2 | 47.5 | 140 | 129 | 77.2% |
| Oman | 179 | 87.8 | 49.5 | 89.2 | -20.7% |
| Jordan | 36.6 | 12.8 | 45.4 | 72.5 | 25.6% |
| Philippines | 12.1 | 15.7 | 27.5 | 25.4 | 28.0% |
| Others | 1,123 | 1,087 | 1,871 | 1,666 | 14.1% |
| Total | 1,764 | 1,881 | 3,430 | 3,183 | 21.7% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from Iran in 2022:
- China (1421.2K tons)
- Thailand (420.2K tons)
- Ghana (378.6K tons)
- United Arab Emirates (238.4K tons)
- Oman (237.4K tons)
- Jordan (63.9K tons)
- Philippines (44.7K tons)
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Iran
In 2022, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s into Iran reduced modestly to 46K tons, stabilizing at 2021 figures. Overall, imports continue to indicate a relatively flat trend pattern. The smallest decline of -0.7% was in 2020.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s soared to $46M in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +19.1% 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 +69.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 19%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the immediate term.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Iran (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Azerbaijan | 11.1 | 14.0 | 17.4 | 21.3 | 24.3% |
| Cyprus | 6.0 | 8.1 | 10.8 | 14.1 | 33.0% |
| United Arab Emirates | 5.7 | 6.1 | 6.3 | 6.5 | 4.5% |
| Kazakhstan | 1.6 | 1.5 | 1.4 | 1.2 | -9.1% |
| Germany | 0.9 | 0.8 | 0.7 | 0.7 | -8.0% |
| India | 0.2 | 0.3 | 0.4 | 0.5 | 35.7% |
| Others | 1.6 | 1.4 | 1.4 | 1.4 | -4.4% |
| Total | 27.0 | 32.2 | 38.4 | 45.7 | 19.2% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to Iran in 2022:
- Azerbaijan (38.3K tons)
- United Arab Emirates (3.4K tons)
- Kazakhstan (0.9K tons)
- Cyprus (0.9K tons)
- India (0.8K tons)
- Germany (0.5K tons)
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