Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in Singapore - 2023

Contents:

1. Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in Singapore (CIF) - 2023
2. Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in Singapore (FOB) - 2023
3. Imports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in Singapore
4. Exports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in Singapore

Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in Singapore (CIF) - 2023

The average import price for steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s stood at $5,310 per ton in September 2022, waning by -25.4% against the previous month. Over the period under review, the import price recorded a drastic downturn. The most prominent rate of growth was recorded in July 2022 when the average import price increased by 24% against the previous month. As a result, import price attained the peak level of $8,102 per ton. From August 2022 to September 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($11,579 per ton), while the price for South Korea ($2,395 per ton) was amongst the lowest.

From June 2022 to September 2022, the most notable rate of growth in terms of prices was attained by China (+33.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in Singapore (FOB) - 2023

The average export price for steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s stood at $6,473 per ton in September 2022, declining by -9.2% against the previous month. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2022 an increase of 320% month-to-month. As a result, the export price reached the peak level of $27,705 per ton. From August 2022 to September 2022, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In September 2022, the country with the highest price was Japan ($7,601 per ton), while the average price for exports to Malaysia ($4,975 per ton) was amongst the lowest.

From June 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (-2.4%), while the prices for the other major destinations experienced a decline.

Imports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in Singapore

After three years of growth, supplies from abroad of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s decreased by -26.8% to 5.1K tons in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +7.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 36% against the previous year.

In value terms, imports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s shrank significantly to $21M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +6.6% 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 +21.3% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 39%. As a result, imports attained the peak of $26M, and then contracted dramatically in the following year.

Top Suppliers of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 to Singapore in 2022:

1. China (1834.8 tons)
2. Japan (1426.1 tons)
3. Malaysia (1109.6 tons)
4. Taiwan (Chinese) (315.0 tons)
5. South Korea (302.3 tons)
6. Australia (47.7 tons)

Exports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in Singapore

In 2022, the amount of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s exported from Singapore fell rapidly to 4.3K tons, with a decrease of -28.3% on the year before. Overall, exports showed a noticeable downturn. The pace of growth was the most pronounced in 2021 with an increase of 40% against the previous year. As a result, the exports reached the peak of 6K tons, and then shrank rapidly in the following year.

In value terms, exports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s dropped to $20M in 2022. The total export value increased at an average annual rate of +6.6% 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 with an increase of 31% against the previous year. As a result, the exports reached the peak of $21M, and then shrank modestly in the following year.

Top Export Markets for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 from Singapore in 2022:

1. Indonesia (2533.1 tons)
2. Malaysia (1143.5 tons)
3. India (380.1 tons)
4. Japan (174.3 tons)