Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia - 2024
Contents:
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia (FOB) - 2024
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia (CIF) - 2024
- Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia
- Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia (FOB) - 2024
The average export price for iron or non-alloy steel wire, not plated or coateds stood at $831 per ton in January 2024, waning by -3.3% against the previous month. In general, the export price saw a slight contraction. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 4.5% month-to-month. As a result, the export price attained the peak level of $960 per ton. From May 2023 to January 2024, the the average export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In January 2024, the country with the highest price was Canada ($1,269 per ton), while the average price for exports to New Zealand ($708 per ton) was amongst the lowest.
From March 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to India (+9.0%), while the prices for the other major destinations experienced a decline.
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia (CIF) - 2024
The average import price for iron or non-alloy steel wire, not plated or coateds stood at $962 per ton in January 2024, picking up by 8.4% against the previous month. Over the period under review, the import price, however, showed a perceptible downturn. The most prominent rate of growth was recorded in October 2023 when the average import price increased by 385% month-to-month. As a result, import price attained the peak level of $5,638 per ton. From November 2023 to January 2024, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was South Korea ($2,471 per ton), while the price for Thailand ($763 per ton) was amongst the lowest.
From March 2023 to January 2024, the most notable rate of growth in terms of prices was attained by South Korea (+9.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia
After two years of decline, shipments abroad of iron or non-alloy steel wire, not plated or coateds increased by 90% to 29K tons in 2022. Overall, exports showed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of iron or non-alloy steel wire, not plated or coateds surged to $29M in 2022. In general, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 9.1 | 10.0 | 12.9 | 21.3 | 32.8% |
| South Korea | N/A | N/A | 0.1 | 3.5 | 3400.0% |
| Singapore | 0.3 | 0.4 | 0.2 | 1.6 | 74.7% |
| Brazil | N/A | N/A | N/A | 1.2 | 0% |
| Brunei Darussalam | N/A | N/A | N/A | 0.8 | 0% |
| New Zealand | 0.2 | 0.3 | 0.8 | 0.2 | 0.0% |
| Indonesia | 2.7 | 0.5 | 0.1 | 0.1 | -66.7% |
| Vietnam | 1.7 | 0.2 | N/A | 0.1 | -61.1% |
| Thailand | 0.6 | 0.7 | 0.2 | N/A | -42.3% |
| Others | 1.0 | 0.3 | 0.7 | 0.5 | -20.6% |
| Total | 15.6 | 12.4 | 15.1 | 29.3 | 23.4% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Not Plated or Coated from Malaysia in 2022:
- Australia (21.4K tons)
- South Korea (3.3K tons)
- Singapore (1.7K tons)
- Brazil (1.2K tons)
- Brunei Darussalam (0.8K tons)
- New Zealand (0.2K tons)
- Indonesia (0.1K tons)
- Vietnam (0.1K tons)
Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia
In 2022, the amount of iron or non-alloy steel wire, not plated or coateds imported into Malaysia rose slightly to 14K tons, with an increase of 4.3% against 2021 figures. The total import volume increased at an average annual rate of +10.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 30%. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of iron or non-alloy steel wire, not plated or coateds dropped to $18M in 2022. The total import value increased at an average annual rate of +12.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. As a result, imports reached the peak of $18M, and then contracted in the following year.
| Import of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.8 | 5.3 | 6.7 | 8.8 | 32.3% |
| Japan | 5.1 | 5.6 | 6.3 | 4.9 | -1.3% |
| Taiwan (Chinese) | 1.7 | 1.5 | 2.3 | 2.1 | 7.3% |
| Vietnam | 0.8 | 0.8 | 1.3 | 1.0 | 7.7% |
| South Korea | 0.2 | 0.4 | 1.0 | 0.4 | 26.0% |
| Thailand | 0.6 | 0.8 | 0.5 | 0.4 | -12.6% |
| Australia | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Others | 0.5 | 0.3 | 0.3 | 0.2 | -26.3% |
| Total | 12.7 | 14.8 | 18.5 | 17.9 | 12.1% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Not Plated or Coated to Malaysia in 2022:
- China (8.0K tons)
- Japan (2.7K tons)
- Taiwan (Chinese) (1.2K tons)
- Vietnam (0.8K tons)
- Thailand (0.4K tons)
- Australia (0.3K tons)
- South Korea (0.2K tons)
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This report provides an in-depth analysis of the market for iron and steel wire in Malaysia.
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This report provides an in-depth analysis of the market for iron and steel wire in Malaysia.
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