Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in Kuwait - 2022

Contents:

1. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in Kuwait (CIF) - 2022
2. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in Kuwait (FOB) - 2022
3. Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in Kuwait
4. Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in Kuwait

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in Kuwait (CIF) - 2022

In 2022, the average import price for steel, alloy amounted to $795 per ton, growing by 3.5% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for steel, alloy increased by +86.1% against 2018 indices. The growth pace was the most rapid in 2021 when the average import price increased by 55% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($1,735 per ton), while the price for South Korea ($445 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in Kuwait (FOB) - 2022

In November 2021, the average export price for steel, alloy amounted to $662 per ton, stabilizing at the previous month. Overall, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level of $665 per ton. From July 2021 to November 2021, the the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Qatar.

From June 2021 to November 2021, the rate of growth in terms of prices for Qatar amounted to -0.1% per month.

Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in Kuwait

In 2022, the amount of steel, alloy imported into Kuwait reduced dramatically to 5.2K tons, declining by -83.1% on the year before. Over the period under review, imports saw a dramatic decline. The smallest decline of -22.7% was in 2021.

In value terms, imports of steel, alloy dropped sharply to $4.1M in 2022. Overall, imports saw a dramatic decline. The pace of growth was the most pronounced in 2021 with an increase of 20%.

Top Suppliers of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils to Kuwait in 2022:

1. Saudi Arabia (4.1K tons)
2. China (0.7K tons)
3. South Korea (0.3K tons)

Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in Kuwait

In 2021, approx. 439 tons of steel, alloy were exported from Kuwait; with an increase of 35% against 2020. The total export volume increased at an average annual rate of +35.1% over the period from 2020 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of steel, alloy skyrocketed to $291K in 2021. In general, total exports indicated a significant expansion from 2020 to 2021: its value increased at an average annual rate of +37.5% over the last one years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils from Kuwait in 2022:

1. Qatar (439.0 tons)

Source: IndexBox Market Intelligence Platform