Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the United States - 2024

Contents:

1. Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the United States (FOB) - 2024
2. Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the United States (CIF) - 2024
3. Exports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the United States
4. Imports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the United States

Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the United States (FOB) - 2024

The average export price for steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s stood at $8,392 per ton in August 2023, with a decrease of -7.9% against the previous month. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2023 when the average export price increased by 14% m-o-m. As a result, the export price reached the peak level of $9,117 per ton, and then fell in the following month.

There were significant differences in the average prices for the major external markets. In August 2023, the country with the highest price was China ($26,091 per ton), while the average price for exports to Canada ($5,526 per ton) was amongst the lowest.

From February 2023 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.8%), while the prices for the other major destinations experienced a decline.

Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in the United States (CIF) - 2024

In August 2023, the average import price for steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s amounted to $12,062 per ton, increasing by 30% against the previous month. Overall, the import price posted a strong increase. The most prominent rate of growth was recorded in June 2023 an increase of 40% against the previous month. Over the period under review, average import prices hit record highs in August 2023.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was the UK ($32,826 per ton), while the price for South Korea ($4,738 per ton) was amongst the lowest.

From February 2023 to August 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+42.2%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, after two years of decline, there was significant growth in shipments abroad of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s, when their volume increased by 5% to 8.6K tons. Overall, exports, however, saw a deep reduction.

In value terms, exports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s shrank modestly to $78M in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 5.7% against the previous year. As a result, the exports reached the peak of $79M, 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 the United States in 2022:

1. Mexico (3392.6 tons)
2. Canada (2873.6 tons)
3. China (838.2 tons)
4. Belgium (330.4 tons)
5. Brazil (176.1 tons)
6. United Kingdom (165.2 tons)
7. France (146.7 tons)
8. Germany (22.9 tons)

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

After three years of growth, purchases abroad of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s decreased by -25.8% to 3K tons in 2022. In general, total imports indicated a perceptible increase from 2019 to 2022: its volume 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. The most prominent rate of growth was recorded in 2021 with an increase of 35%. As a result, imports reached the peak of 4.1K tons, and then dropped sharply in the following year.

In value terms, imports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s expanded markedly to $23M in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +12.6% 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 +42.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

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

1. Sweden (718.8 tons)
2. South Korea (638.7 tons)
3. France (404.6 tons)
4. Germany (387.0 tons)
5. China (222.8 tons)
6. Taiwan (Chinese) (205.6 tons)
7. Canada (133.7 tons)
8. India (121.3 tons)