Price for Steel, Stainless; Ingots and Other Primary Forms in Singapore - 2022
Contents:
- Price for Steel, Stainless; Ingots and Other Primary Forms in Singapore (CIF) - 2022
- Price for Steel, Stainless; Ingots and Other Primary Forms in Singapore (FOB) - 2022
- Imports of Steel, Stainless; Ingots and Other Primary Forms in Singapore
- Exports of Steel, Stainless; Ingots and Other Primary Forms in Singapore
Price for Steel, Stainless; Ingots and Other Primary Forms in Singapore (CIF) - 2022
In 2022, the average import price for steel, stainless; ingots and other primary formses amounted to $12,718 per ton, with an increase of 4.3% against the previous year. Over the period under review, the import price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 65%. The import price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($23,968 per ton), while the price for the United States ($11,652 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+42.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel, Stainless; Ingots and Other Primary Forms in Singapore (FOB) - 2022
In 2022, the average export price for steel, stainless; ingots and other primary formses amounted to $15,522 per ton, rising by 135% against the previous year. Overall, the export price recorded prominent growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($23,850 per ton), while the average price for exports to the Philippines ($2,100 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+30.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Stainless; Ingots and Other Primary Forms in Singapore
In 2022, overseas purchases of steel, stainless; ingots and other primary formses increased by 67% to 149 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a sharp decrease.
In value terms, imports of steel, stainless; ingots and other primary formses soared to $1.9M in 2022. In general, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +6.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.3% against 2020 indices.
| Import of Steel, Stainless; Ingots and Other Primary Forms in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,089 | 1,205 | 522 | 1,555 | 12.6% |
| China | 74.9 | 199 | 130 | 212 | 41.5% |
| Taiwan (Chinese) | 118 | 39.1 | N/A | 11.3 | -54.2% |
| Spain | 143 | 129 | 298 | N/A | 44.4% |
| South Korea | N/A | 141 | N/A | N/A | 0% |
| Egypt | 61.5 | 64.3 | N/A | N/A | 4.6% |
| Others | 81.2 | 161 | 136 | 116 | 12.6% |
| Total | 1,567 | 1,939 | 1,087 | 1,895 | 6.5% |
Top Suppliers of Steel, Stainless; Ingots and Other Primary Forms to Singapore in 2022:
- United States (133.5 tons)
- China (11.8 tons)
- Taiwan (Chinese) (0.5 tons)
Exports of Steel, Stainless; Ingots and Other Primary Forms in Singapore
Exports of steel, stainless; ingots and other primary formses from Singapore surged to 64 tons in 2022, jumping by 160% on the previous year's figure. In general, exports, however, faced a precipitous contraction.
In value terms, exports of steel, stainless; ingots and other primary formses surged to $988K in 2022. Overall, exports, however, continue to indicate a drastic downturn.
| Export of Steel, Stainless; Ingots and Other Primary Forms in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 23.8 | N/A | 43.2 | 814 | 224.6% |
| Malaysia | 45.9 | 47.4 | 9.8 | 47.5 | 1.1% |
| Norway | N/A | N/A | N/A | 37.4 | 0% |
| Sri Lanka | N/A | N/A | N/A | 36.2 | 0% |
| Philippines | N/A | N/A | N/A | 26.6 | 0% |
| United States | 0.9 | 0.6 | N/A | 19.2 | 177.3% |
| Indonesia | 8.7 | 4.1 | 10.0 | 4.8 | -18.0% |
| Taiwan (Chinese) | N/A | N/A | 38.5 | 1.7 | -95.6% |
| Spain | 1,534 | N/A | N/A | N/A | 0% |
| India | 84.3 | N/A | N/A | N/A | 0% |
| Australia | N/A | N/A | 18.8 | N/A | 0% |
| Saudi Arabia | N/A | 131 | N/A | N/A | 0% |
| Others | 2.9 | 0.4 | 41.0 | 0.4 | -48.3% |
| Total | 1,701 | 183 | 161 | 988 | -16.6% |
Top Export Markets for Steel, Stainless; Ingots and Other Primary Forms from Singapore in 2022:
- China (34.1 tons)
- Philippines (12.7 tons)
- Malaysia (9.4 tons)
- Norway (2.7 tons)
- Sri Lanka (2.3 tons)
- United States (1.4 tons)
- Taiwan (Chinese) (0.6 tons)
- Indonesia (0.6 tons)
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