Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in India - 2023

Contents:

1. Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in India (CIF) - 2023
2. Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in India (FOB) - 2023
3. Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in India
4. Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in India

Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in India (CIF) - 2023

In November 2023, the average import price for iron or non-alloy steel wire, plated or coated with non-zinc base metalses amounted to $1,074 per ton, waning by -2.9% against the previous month. Overall, the import price showed a slight reduction. The pace of growth appeared the most rapid in August 2023 when the average import price increased by 3.5% month-to-month. The import price peaked at $1,332 per ton in November 2022; however, from December 2022 to November 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In November 2023, the countries with the highest prices were Thailand ($1,095 per ton) and China ($1,078 per ton), while the price for Vietnam ($1,003 per ton) and Malaysia ($1,061 per ton) were amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by China (-1.4%), while the prices for the other major suppliers experienced a decline.

Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in India (FOB) - 2023

The average export price for iron or non-alloy steel wire, plated or coated with non-zinc base metalses stood at $1,217 per ton in November 2023, increasing by 14% against the previous month. In general, the export price, however, saw a slight slump. The pace of growth was the most pronounced in April 2023 an increase of 20% against the previous month. As a result, the export price reached the peak level of $1,741 per ton. From May 2023 to November 2023, the the average export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Brazil ($8,639 per ton), while the average price for exports to Thailand ($786 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 Brazil (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in India

In 2022, the amount of iron or non-alloy steel wire, plated or coated with non-zinc base metalses imported into India dropped to 63K tons, with a decrease of -10.2% on 2021 figures. The total import volume increased at an average annual rate of +1.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. As a result, imports attained the peak of 70K tons, and then declined in the following year.

In value terms, imports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses totaled $97M in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +13.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 80% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals to India in 2022:

1. China (45.0K tons)
2. Malaysia (12.7K tons)
3. Vietnam (4.1K tons)
4. Thailand (0.2K tons)

Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in India

Exports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses from India reduced sharply to 5.5K tons in 2022, which is down by -48% against the previous year's figure. In general, exports, however, posted pronounced growth. The pace of growth appeared the most rapid in 2021 when exports increased by 141%. As a result, the exports reached the peak of 11K tons, and then contracted dramatically in the following year.

In value terms, exports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses fell remarkably to $8.1M in 2022. Overall, exports, however, recorded strong growth. The pace of growth was the most pronounced in 2021 when exports increased by 134%. As a result, the exports reached the peak of $12M, and then reduced sharply in the following year.

Top Export Markets for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals from India in 2022:

1. United States (2139.4 tons)
2. Mexico (813.4 tons)
3. Sri Lanka (583.2 tons)
4. Canada (315.0 tons)
5. Saudi Arabia (312.4 tons)
6. Spain (198.8 tons)
7. Italy (174.1 tons)
8. Bangladesh (139.9 tons)
9. Angola (117.8 tons)
10. Germany (91.3 tons)
11. Brazil (78.1 tons)
12. Nepal (24.4 tons)
13. Turkey (4.7 tons)

Source: IndexBox Market Intelligence Platform