Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia - 2023
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia (FOB) - 2023
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia (FOB) - 2023
The average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $683 per ton in September 2023, waning by -96.9% against the previous month. Overall, the export price recorded a abrupt decline. The export price peaked at $22,166 per ton in August 2023, and then reduced remarkably in the following month.
As there is only one major export destination, the average price level is determined by prices for China.
From December 2022 to September 2023, the rate of growth in terms of prices for China amounted to -33.8% per month.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia (CIF) - 2022
The average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $4,874 per ton in 2022, picking up by 72% against the previous year. In general, the import price, however, continues to indicate a slight decrease. The growth pace was the most rapid in 2013 when the average import price increased by 116%. As a result, import price reached the peak level of $12,332 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 Germany ($7,740 per ton), while the price for China ($3,254 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.0%), while the prices for the other major suppliers experienced a decline.
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia
In 2022, shipments abroad of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s decreased by -99.5% to 39 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports continue to indicate a significant curtailment. The growth pace was the most rapid in 2021 with an increase of 1,080%. As a result, the exports reached the peak of 8.7K tons, and then reduced rapidly in the following year.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s dropped remarkably to $45K in 2022. Over the period under review, exports continue to indicate a significant curtailment. The growth pace was the most rapid in 2020 with an increase of 1,053% against the previous year.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | N/A | N/A | 0.4 | N/A | 0% |
| China | N/A | 1.3 | 13.2 | N/A | 915.4% |
| United States | N/A | N/A | N/A | N/A | 0% |
| India | 0.1 | N/A | 0.2 | N/A | 41.4% |
| Singapore | N/A | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 0.1 | 1.3 | 13.8 | N/A | 1074.7% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from Malaysia in 2022:
- India (36.8 tons)
- United States (1.6 tons)
- Singapore (0.9 tons)
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia
In 2022, overseas purchases of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s decreased by -97.5% to 6.4 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports continue to indicate a sharp reduction. The growth pace was the most rapid in 2021 when imports increased by 218%. As a result, imports reached the peak of 254 tons, and then reduced notably in the following year.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s fell rapidly to $31K in 2022. In general, imports saw a precipitous slump. The growth pace was the most rapid in 2021 when imports increased by 373% against the previous year. As a result, imports reached the peak of $718K, and then shrank significantly in the following year.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 83.9 | 152 | 119 | 13.3 | -45.9% |
| Germany | N/A | N/A | N/A | 11.7 | 0% |
| United States | 29.7 | N/A | 2.2 | 6.4 | -40.0% |
| Russia | N/A | N/A | 583 | N/A | 0% |
| Others | 1.8 | N/A | 14.3 | N/A | 181.9% |
| Total | 115 | 152 | 718 | 31.4 | -35.1% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to Malaysia in 2022:
- China (4.1 tons)
- Germany (1.5 tons)
- United States (0.8 tons)
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