Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in Singapore - 2023

Contents:

1. Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in Singapore (CIF) - 2022
2. Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in Singapore (FOB) - 2022
3. Imports of Tube or Pipe Butt Welding Fittings of Stainless Steel in Singapore
4. Exports of Tube or Pipe Butt Welding Fittings of Stainless Steel in Singapore

Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in Singapore (CIF) - 2022

In 2022, the average import price for tube or pipe butt welding fittings of stainless steels amounted to $15,945 per ton, which is down by -28.1% against the previous year. Over the period under review, the import price, however, recorded a strong increase. The pace of growth was the most pronounced in 2016 when the average import price increased by 42%. Over the period under review, average import prices reached the peak figure at $22,166 per ton in 2021, and then declined notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($123,168 per ton), while the price for Taiwan (Chinese) ($4,904 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 States (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Tube or Pipe Butt Welding Fittings of Stainless Steel in Singapore (FOB) - 2022

In 2022, the average export price for tube or pipe butt welding fittings of stainless steels amounted to $17,877 per ton, with an increase of 19% against the previous year. In general, the export price posted a strong increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 139% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Iran ($33,070 per ton), while the average price for exports to New Zealand ($2,864 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 the UK (+17.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tube or Pipe Butt Welding Fittings of Stainless Steel in Singapore

In 2022, supplies from abroad of tube or pipe butt welding fittings of stainless steels increased by 92% to 2K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports enjoyed notable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of tube or pipe butt welding fittings of stainless steels soared to $32M in 2022. The total import value increased at an average annual rate of +4.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Tube or Pipe Butt Welding Fittings of Stainless Steel to Singapore in 2022:

1. China (1082.0 tons)
2. South Korea (278.3 tons)
3. Malaysia (142.1 tons)
4. Germany (123.3 tons)
5. Italy (96.9 tons)
6. Taiwan (Chinese) (84.9 tons)
7. United States (78.6 tons)
8. United Kingdom (3.8 tons)
9. Indonesia (1.5 tons)

Exports of Tube or Pipe Butt Welding Fittings of Stainless Steel in Singapore

For the third consecutive year, Singapore recorded decline in overseas shipments of tube or pipe butt welding fittings of stainless steels, which decreased by -28.1% to 411 tons in 2022. Over the period under review, exports recorded a dramatic slump. The smallest decline of -9.5% was in 2021.

In value terms, exports of tube or pipe butt welding fittings of stainless steels contracted to $7.3M in 2022. In general, exports faced a abrupt slump. The smallest decline of -14.3% was in 2021.

Top Export Markets for Tube or Pipe Butt Welding Fittings of Stainless Steel from Singapore in 2022:

1. Indonesia (119.0 tons)
2. Malaysia (66.2 tons)
3. New Zealand (40.5 tons)
4. Germany (27.1 tons)
5. China (25.6 tons)
6. Thailand (24.1 tons)
7. United Kingdom (20.3 tons)
8. Australia (15.2 tons)
9. Japan (15.0 tons)
10. Italy (13.3 tons)
11. Iran (9.0 tons)
12. Ireland (6.3 tons)
13. Mexico (0.1 tons)

Source: IndexBox Market Intelligence Platform