Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Saudi Arabia - 2022
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Saudi Arabia (CIF) - 2022
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Saudi Arabia
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Saudi Arabia (CIF) - 2022
The average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $904 per ton in 2021, surging by 90% against the previous year. Overall, the import price posted a notable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($4,638 per ton), while the price for Kuwait ($546 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+44.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Saudi Arabia
In 2021, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s into Saudi Arabia contracted remarkably to 15K tons, shrinking by -74.7% on 2020 figures. Over the period under review, imports showed a dramatic decrease. The smallest decline of -33% was in 2020.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s shrank markedly to $14M in 2021. Overall, imports faced a significant contraction. The smallest decline of -28.6% was in 2020.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Saudi Arabia (Million USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| Kuwait | 38.4 | 24.5 | 7.0 | -57.3% |
| South Korea | 0.4 | 0.9 | 3.6 | 200.0% |
| Belgium | 0.5 | 0.5 | 1.1 | 48.3% |
| China | N/A | 0.7 | 0.9 | 28.6% |
| Others | 0.6 | 1.8 | 1.0 | 29.1% |
| Total | 39.8 | 28.4 | 13.7 | -41.3% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to Saudi Arabia in 2022:
- Kuwait (12.8K tons)
- South Korea (0.8K tons)
- China (0.8K tons)
- Belgium (0.3K tons)
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