Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in India - 2023
Contents:
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in India (FOB) - 2023
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in India (CIF) - 2023
- Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in India
- Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in India
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in India (FOB) - 2023
The average export price for iron or non-alloy steel wire, not plated or coateds stood at $1,380 per ton in November 2023, approximately reflecting the previous month. Over the period under review, export price indicated a pronounced expansion from November 2022 to November 2023: its price increased at an average monthly rate of +3.7% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for iron or non-alloy steel wire, not plated or coateds increased by +59.5% against June 2023 indices. The pace of growth was the most pronounced in August 2023 an increase of 30% against the previous month. Over the period under review, the average export prices reached the maximum in November 2023.
Prices varied noticeably by the country of destination: the country with the highest price was Kenya ($4,740 per ton), while the average price for exports to Bhutan ($617 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+13.2%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in India (CIF) - 2023
The average import price for iron or non-alloy steel wire, not plated or coateds stood at $2,195 per ton in November 2023, reducing by -19.9% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 an increase of 74% against the previous month. The import price peaked at $3,671 per ton in July 2023; however, from August 2023 to November 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($9,118 per ton), while the price for China ($783 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Germany (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in India
In 2022, shipments abroad of iron or non-alloy steel wire, not plated or coateds decreased by -0.2% to 26K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +17.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 59% against the previous year. As a result, the exports attained the peak of 26K tons, leveling off in the following year.
In value terms, exports of iron or non-alloy steel wire, not plated or coateds stood at $24M in 2022. In general, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 96%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Iron or Non-Alloy Steel Wire, Not Plated or Coated in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nepal | 6.5 | 5.6 | 8.3 | 6.8 | 1.5% |
| Bangladesh | 0.3 | 0.7 | 1.9 | 2.7 | 108.0% |
| United Arab Emirates | 1.8 | 1.2 | 2.4 | 2.7 | 14.5% |
| Germany | 0.1 | N/A | 0.1 | 1.7 | 157.1% |
| Canada | N/A | N/A | 0.1 | 1.5 | 1400.0% |
| Sri Lanka | 1.4 | 1.6 | 3.2 | 1.4 | 0.0% |
| Bhutan | 0.4 | 0.4 | 0.5 | 1.2 | 44.2% |
| Thailand | N/A | N/A | N/A | 1.0 | 0% |
| Brazil | 0.1 | 0.1 | 0.5 | 0.9 | 108.0% |
| Spain | N/A | N/A | 0.2 | 0.4 | 100.0% |
| Others | 1.3 | 1.2 | 3.9 | 3.6 | 40.4% |
| Total | 11.9 | 10.8 | 21.2 | 23.9 | 26.2% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Not Plated or Coated from India in 2022:
- Nepal (8.9K tons)
- Bangladesh (3.3K tons)
- United Arab Emirates (2.4K tons)
- Bhutan (1.5K tons)
- Sri Lanka (1.4K tons)
- Germany (1.2K tons)
- Canada (1.1K tons)
- Thailand (1.1K tons)
- Brazil (0.8K tons)
- Spain (0.5K tons)
Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in India
Imports of iron or non-alloy steel wire, not plated or coateds into India fell dramatically to 6.8K tons in 2022, dropping by -34.5% on 2021 figures. Over the period under review, imports showed a dramatic contraction. The growth pace was the most rapid in 2021 with an increase of 0.7% against the previous year.
In value terms, imports of iron or non-alloy steel wire, not plated or coateds contracted to $15M in 2022. In general, imports showed a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year.
| Import of Iron or Non-Alloy Steel Wire, Not Plated or Coated in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 5.5 | 3.9 | 6.2 | 3.5 | -14.0% |
| Vietnam | 1.7 | 0.6 | 2.8 | 3.1 | 22.2% |
| Japan | 1.8 | 1.5 | 3.0 | 2.3 | 8.5% |
| Turkey | 0.2 | 0.2 | 0.8 | 1.7 | 104.1% |
| United Arab Emirates | 2.0 | 1.4 | 0.1 | 1.0 | -20.6% |
| Spain | 1.3 | 0.6 | 0.5 | 0.7 | -18.6% |
| Malaysia | 0.9 | 0.2 | 0.2 | 0.4 | -23.7% |
| China | 1.5 | 1.5 | 1.2 | 0.3 | -41.5% |
| Others | 2.9 | 2.1 | 1.7 | 2.3 | -7.4% |
| Total | 17.7 | 12.0 | 16.4 | 15.2 | -4.9% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Not Plated or Coated to India in 2022:
- United Arab Emirates (1434.5 tons)
- Vietnam (1394.5 tons)
- South Korea (1316.1 tons)
- Turkey (837.9 tons)
- Spain (564.2 tons)
- Japan (530.9 tons)
- Malaysia (270.8 tons)
- China (201.0 tons)
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This report provides an in-depth analysis of the market for iron and steel wire in India.
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This report provides an in-depth analysis of the global market for iron and steel wire.
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This report provides an in-depth analysis of the market for iron and steel wire in India.
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This report provides an in-depth analysis of the market for iron and steel wire in India.
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This report provides an in-depth analysis of the global market for iron and steel wire.
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