Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait - 2022
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait (CIF) - 2022
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait (FOB) - 2022
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait (CIF) - 2022
The average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $1,143 per ton in 2022, picking up by 55% against the previous year. In general, the import price recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 an increase of 74% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.
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 India ($1,218 per ton), while the price for China ($494 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+43.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait (FOB) - 2022
The average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $444 per ton in 2022, declining by -18.7% against the previous year. Overall, the export price saw a pronounced shrinkage. The growth pace was the most rapid in 2017 when the average export price increased by 32%. The export price peaked at $615 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Saudi Arabia.
From 2012 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to -3.3% per year.
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait
In 2022, after three years of growth, there was significant decline in supplies from abroad of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s, when their volume decreased by -87.7% to 61 tons. In general, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 5,950%.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s dropped sharply to $70K in 2022. Over the period under review, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 6,191% against the previous year.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | N/A | N/A | 0.2 | 44.2 | 22000.0% |
| India | N/A | N/A | 0.1 | 22.2 | 22100.0% |
| China | N/A | N/A | 0.2 | 3.1 | 1450.0% |
| United States | 0.3 | 21.4 | 352 | N/A | 3325.4% |
| Iran | N/A | 1.0 | 10.8 | N/A | 980.0% |
| Others | N/A | N/A | 1.1 | N/A | 0% |
| Total | 0.4 | 22.4 | 364 | 69.5 | 458.0% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to Kuwait in 2022:
- Saudi Arabia (36.3 tons)
- India (18.2 tons)
- China (6.3 tons)
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait
In 2022, after two years of decline, there was significant growth in shipments abroad of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s, when their volume increased by 178% to 35K tons. Over the period under review, exports, however, showed a sharp reduction.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s soared to $16M in 2022. In general, exports, however, continue to indicate a sharp reduction.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 38.3 | 24.4 | 6.8 | 15.6 | -25.9% |
| Others | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Total | 38.4 | 24.5 | 7.0 | 15.7 | -25.8% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from Kuwait in 2022:
- Saudi Arabia (35.5K tons)
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