Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India - 2023
Contents:
- Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India (CIF) - 2023
- Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India (FOB) - 2023
- Imports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India
- Exports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India
Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India (CIF) - 2023
The average import price for stainless steel; flat-rolled products of width less than 600mms stood at $1,795 per ton in July 2023, picking up by 7.8% against the previous month. Over the period from November 2022 to July 2023, it increased at an average monthly rate of +1.3%. The pace of growth appeared the most rapid in February 2023 an increase of 21% against the previous month. The import price peaked at $2,103 per ton in March 2023; however, from April 2023 to July 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($10,175 per ton), while the price for Hong Kong SAR ($1,112 per ton) was amongst the lowest.
From November 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Japan (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India (FOB) - 2023
The average export price for stainless steel; flat-rolled products of width less than 600mms stood at $4,167 per ton in July 2023, almost unchanged from the previous month. Overall, the export price, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 14% m-o-m. The export price peaked at $4,547 per ton in November 2022; however, from December 2022 to July 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In July 2023, the country with the highest price was Vietnam ($5,925 per ton), while the average price for exports to Nepal ($1,534 per ton) was amongst the lowest.
From November 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India
In 2022, imports of stainless steel; flat-rolled products of width less than 600mms into India declined to 206K tons, which is down by -13.2% against the previous year. In general, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +7.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.0% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 61%. As a result, imports reached the peak of 237K tons, and then reduced in the following year.
In value terms, imports of stainless steel; flat-rolled products of width less than 600mms declined modestly to $339M in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +5.4% 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 +57.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 63%. As a result, imports reached the peak of $353M, and then declined slightly in the following year.
| Import of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 61.3 | 61.6 | 193 | 179 | 42.9% |
| Hong Kong SAR | 29.1 | 7.1 | 39.2 | 49.8 | 19.6% |
| Japan | 24.1 | 25.3 | 32.1 | 39.4 | 17.8% |
| South Korea | 52.8 | 30.1 | 21.6 | 20.9 | -26.6% |
| Vietnam | 13.7 | 11.8 | 13.0 | 5.8 | -24.9% |
| Indonesia | 28.5 | 22.9 | 2.5 | 2.7 | -54.4% |
| Malaysia | 35.9 | 21.2 | 9.3 | 1.1 | -68.7% |
| Others | 44.1 | 36.2 | 42.1 | 40.0 | -3.2% |
| Total | 289 | 216 | 353 | 339 | 5.5% |
Top Suppliers of Stainless Steel; Flat-Rolled Products of Width Less than 600mm to India in 2022:
- China (128.1K tons)
- Hong Kong SAR (50.5K tons)
- South Korea (7.2K tons)
- Japan (4.7K tons)
- Vietnam (2.6K tons)
- Indonesia (1.3K tons)
- Malaysia (0.5K tons)
Exports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India
Exports of stainless steel; flat-rolled products of width less than 600mms from India surged to 57K tons in 2022, picking up by 31% compared with the previous year's figure. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of stainless steel; flat-rolled products of width less than 600mms surged to $248M in 2022. Overall, exports saw a significant increase. The growth pace was the most rapid in 2021 when exports increased by 71% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the near future.
| Export of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 16.3 | 15.9 | 26.8 | 42.9 | 38.1% |
| United States | 9.0 | 7.1 | 27.8 | 40.8 | 65.5% |
| Mexico | 4.6 | 4.8 | 13.4 | 28.3 | 83.2% |
| Vietnam | 6.7 | 6.6 | 12.4 | 18.6 | 40.5% |
| Turkey | 1.3 | 5.2 | 11.0 | 14.7 | 124.5% |
| Italy | 10.1 | 8.3 | 8.7 | 14.6 | 13.1% |
| Canada | 3.7 | 4.9 | 6.2 | 10.7 | 42.5% |
| Germany | 6.7 | 2.4 | 9.6 | 10.7 | 16.9% |
| Egypt | 6.0 | 7.2 | 8.7 | 8.8 | 13.6% |
| Brazil | 2.3 | 1.5 | 3.5 | 7.2 | 46.3% |
| Netherlands | 3.1 | 1.6 | 2.2 | 6.4 | 27.3% |
| Nepal | 3.0 | 2.0 | 2.3 | 2.8 | -2.3% |
| Russia | 5.3 | 5.9 | 3.6 | 2.7 | -20.1% |
| Others | 21.0 | 19.6 | 23.5 | 38.8 | 22.7% |
| Total | 98.9 | 93.1 | 160 | 248 | 35.9% |
Top Export Markets for Stainless Steel; Flat-Rolled Products of Width Less than 600mm from India in 2022:
- United States (8.9K tons)
- Belgium (8.9K tons)
- Mexico (6.2K tons)
- Turkey (4.7K tons)
- Italy (3.7K tons)
- Vietnam (3.2K tons)
- Germany (2.4K tons)
- Canada (2.3K tons)
- Egypt (1.8K tons)
- Brazil (1.7K tons)
- Nepal (1.7K tons)
- Netherlands (1.6K tons)
- Russia (0.7K tons)
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