Price for Steel, Stainless; Ingots and Other Primary Forms in the United States - 2023
Contents:
- Price for Steel, Stainless; Ingots and Other Primary Forms in the United States (FOB) - 2022
- Price for Steel, Stainless; Ingots and Other Primary Forms in the United States (CIF) - 2023
- Exports of Steel, Stainless; Ingots and Other Primary Forms in the United States
- Imports of Steel, Stainless; Ingots and Other Primary Forms in the United States
Price for Steel, Stainless; Ingots and Other Primary Forms in the United States (FOB) - 2022
The average export price for steel, stainless; ingots and other primary formses stood at $6,204 per ton in 2022, jumping by 40% against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($30,266 per ton), while the average price for exports to Spain ($2,902 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 (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Steel, Stainless; Ingots and Other Primary Forms in the United States (CIF) - 2023
In December 2023, the average import price for steel, stainless; ingots and other primary formses amounted to $3,426 per ton, falling by -9.9% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.2%. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 52% month-to-month. The import price peaked at $4,171 per ton in February 2023; however, from March 2023 to December 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Australia ($15,540 per ton), while the price for Canada amounted to $3,235 per ton.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Mexico (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Steel, Stainless; Ingots and Other Primary Forms in the United States
Exports of steel, stainless; ingots and other primary formses from the United States reduced sharply to 12K tons in 2022, dropping by -23.8% on the year before. Over the period under review, exports showed a perceptible descent. The pace of growth was the most pronounced in 2021 with an increase of 102%. As a result, the exports reached the peak of 15K tons, and then plummeted in the following year.
In value terms, exports of steel, stainless; ingots and other primary formses rose sharply to $73M in 2022. Overall, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +8.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 66%. Over the period under review, the exports of reached the maximum in 2022 and are likely to see steady growth in years to come.
| Export of Steel, Stainless; Ingots and Other Primary Forms in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 11.1 | 9.5 | 6.9 | 15.7 | 12.3% |
| United Kingdom | 6.3 | 2.4 | 6.7 | 10.2 | 17.4% |
| Japan | 4.1 | 4.6 | 5.4 | 5.6 | 11.0% |
| South Korea | 1.5 | 3.7 | 4.1 | 5.5 | 54.2% |
| Taiwan (Chinese) | 7.8 | 4.3 | 4.6 | 4.2 | -18.6% |
| France | 5.0 | 1.0 | 1.8 | 2.8 | -17.6% |
| Spain | 0.1 | N/A | 4.5 | 2.3 | 184.4% |
| Mexico | 3.9 | 1.6 | 0.9 | 1.8 | -22.7% |
| South Africa | N/A | N/A | 15.7 | N/A | 0% |
| Others | 18.4 | 14.2 | 17.9 | 25.1 | 10.9% |
| Total | 58.2 | 41.4 | 68.6 | 73.2 | 7.9% |
Top Export Markets for Steel, Stainless; Ingots and Other Primary Forms from the United States in 2022:
- Canada (4.5K tons)
- United Kingdom (2.0K tons)
- Japan (1.0K tons)
- Spain (0.8K tons)
- Taiwan (Chinese) (0.7K tons)
- South Korea (0.7K tons)
- France (0.5K tons)
- Mexico (0.3K tons)
Imports of Steel, Stainless; Ingots and Other Primary Forms in the United States
Imports of steel, stainless; ingots and other primary formses into the United States shrank notably to 9.8K tons in 2022, dropping by -28.1% against the previous year's figure. Over the period under review, total imports indicated temperate growth from 2019 to 2022: its volume increased at an average annual rate of +2.8% 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 +14.2% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 59% against the previous year. As a result, imports attained the peak of 14K tons, and then shrank remarkably in the following year.
In value terms, imports of steel, stainless; ingots and other primary formses totaled $45M in 2022. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 74% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Steel, Stainless; Ingots and Other Primary Forms in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 4.9 | 14.0 | 35.5 | 32.4 | 87.7% |
| Australia | 4.3 | 4.6 | 3.2 | 7.9 | 22.5% |
| Italy | 14.7 | 3.9 | 1.5 | 4.5 | -32.6% |
| Others | 1.1 | 1.3 | 1.0 | 0.7 | -14.0% |
| Total | 25.0 | 23.7 | 41.2 | 45.4 | 22.0% |
Top Suppliers of Steel, Stainless; Ingots and Other Primary Forms to the United States in 2022:
- Canada (7.8K tons)
- Italy (1.2K tons)
- Australia (0.6K tons)
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