Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in Malaysia - 2024
Contents:
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in Malaysia (FOB) - 2024
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in Malaysia (CIF) - 2022
- Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in Malaysia
- Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in Malaysia
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in Malaysia (FOB) - 2024
The average export price for iron or non-alloy steel wire, plated or coated with non-zinc base metalses stood at $1,028 per ton in January 2024, waning by -3.1% against the previous month. Overall, the export price saw a slight reduction. The pace of growth appeared the most rapid in June 2023 when the average export price increased by 2.5% m-o-m. The export price peaked at $1,202 per ton in July 2023; however, from August 2023 to January 2024, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Turkey ($1,168 per ton), while the average price for exports to China ($651 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 Pakistan (-0.6%), while the prices for the other major destinations experienced a decline.
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in Malaysia (CIF) - 2022
The average import price for iron or non-alloy steel wire, plated or coated with non-zinc base metalses stood at $1,332 per ton in 2022, rising by 9.3% against the previous year. Over the period under review, the import price, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by 30%. The import price peaked at $2,195 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
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 Japan ($3,694 per ton), while the price for Vietnam ($1,139 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.1%), while the prices for the other major suppliers experienced a decline.
Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in Malaysia
In 2022, after two years of decline, there was significant growth in shipments abroad of iron or non-alloy steel wire, plated or coated with non-zinc base metalses, when their volume increased by 19% to 63K tons. Overall, exports, however, recorded a abrupt downturn.
In value terms, exports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses surged to $90M in 2022. In general, total exports indicated a perceptible expansion from 2019 to 2022: its value increased at an average annual rate of +2.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.3% against 2020 indices. 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, Plated or Coated with Non-Zinc Base Metals in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 37.1 | 17.9 | 16.1 | 21.9 | -16.1% |
| Indonesia | 15.3 | 11.9 | 17.1 | 21.2 | 11.5% |
| India | 4.4 | 10.3 | 14.4 | 18.9 | 62.6% |
| Vietnam | 12.6 | 7.2 | 4.9 | 12.7 | 0.3% |
| Singapore | 2.5 | 1.0 | 2.5 | 3.2 | 8.6% |
| Philippines | 2.1 | 1.5 | 1.6 | 2.3 | 3.1% |
| Pakistan | 1.7 | 1.8 | 1.6 | 1.6 | -2.0% |
| Others | 8.3 | 6.2 | 6.6 | 8.5 | 0.8% |
| Total | 83.9 | 57.8 | 64.8 | 90.4 | 2.5% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals from Malaysia in 2022:
- Indonesia (14.6K tons)
- Thailand (14.6K tons)
- India (13.8K tons)
- Vietnam (9.2K tons)
- Singapore (1.9K tons)
- Philippines (1.6K tons)
- Pakistan (1.2K tons)
Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in Malaysia
In 2022, purchases abroad of iron or non-alloy steel wire, plated or coated with non-zinc base metalses decreased by -9.7% to 19K tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +14.7% 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 +50.8% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 55%. As a result, imports reached the peak of 21K tons, and then shrank in the following year.
In value terms, imports of iron or non-alloy steel wire, plated or coated with non-zinc base metalses shrank slightly to $26M in 2022. Overall, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 97% against the previous year. As a result, imports attained the peak of $26M, and then contracted in the following year.
| Import of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.6 | 6.8 | 14.5 | 13.8 | 27.9% |
| Thailand | 3.2 | 3.5 | 7.5 | 7.6 | 33.4% |
| Vietnam | 1.9 | 1.5 | 2.0 | 1.6 | -5.6% |
| South Korea | 0.4 | 0.6 | 1.0 | 1.2 | 44.2% |
| Russia | N/A | N/A | N/A | 0.5 | 0% |
| Hong Kong SAR | 0.3 | N/A | 0.1 | 0.4 | 10.1% |
| Others | 1.2 | 0.6 | 0.6 | 0.4 | -30.7% |
| Total | 13.5 | 13.1 | 25.9 | 25.5 | 23.6% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Plated or Coated with Non-Zinc Base Metals to Malaysia in 2022:
- China (9.4K tons)
- Thailand (6.4K tons)
- Vietnam (1.4K tons)
- South Korea (0.9K tons)
- Russia (0.3K tons)
- Hong Kong SAR (0.3K tons)
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