Price for Wire of Other Alloy Steel in India - 2023
Contents:
- Price for Wire of Other Alloy Steel in India (CIF) - 2022
- Price for Wire of Other Alloy Steel in India (FOB) - 2022
- Imports of Wire of Other Alloy Steel in India
- Exports of Wire of Other Alloy Steel in India
Price for Wire of Other Alloy Steel in India (CIF) - 2022
The average import price for wire of other alloy steels stood at $2,085 per ton in 2022, picking up by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 20% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.
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 Japan ($2,833 per ton), while the price for Malaysia ($1,612 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Wire of Other Alloy Steel in India (FOB) - 2022
In 2022, the average export price for wire of other alloy steels amounted to $1,702 per ton, jumping by 21% against the previous year. Overall, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wire of other alloy steel export price increased by +28.5% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 41%. The export price peaked at $1,858 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.
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 the UK ($3,534 per ton), while the average price for exports to Nepal ($906 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 Japan (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Wire of Other Alloy Steel in India
In 2022, imports of wire of other alloy steels into India reduced to 47K tons, with a decrease of -10.3% against 2021. Overall, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2021 when imports increased by 55%. As a result, imports reached the peak of 53K tons, and then shrank in the following year.
In value terms, wire of other alloy steel imports reached $98M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +5.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +88.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 86%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Wire of Other Alloy Steel in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 21.8 | 16.5 | 38.0 | 36.6 | 18.9% |
| China | 13.5 | 7.7 | 16.5 | 18.3 | 10.7% |
| Japan | 11.5 | 9.7 | 17.8 | 17.3 | 14.6% |
| France | 6.7 | 2.9 | 5.0 | 4.2 | -14.4% |
| Italy | 9.1 | 2.8 | 2.4 | 3.5 | -27.3% |
| Malaysia | 4.1 | 3.0 | 4.4 | 3.3 | -7.0% |
| Thailand | 2.0 | 1.6 | 2.0 | 3.0 | 14.5% |
| Vietnam | 4.5 | 1.8 | 2.9 | 1.6 | -29.2% |
| Others | 10.3 | 6.1 | 7.8 | 10.3 | 0.0% |
| Total | 83.5 | 52.1 | 96.8 | 98.2 | 5.6% |
Top Suppliers of Wire of Other Alloy Steel to India in 2022:
- South Korea (22.1K tons)
- China (7.3K tons)
- Japan (6.1K tons)
- France (2.3K tons)
- Malaysia (2.0K tons)
- Italy (1.6K tons)
- Thailand (1.6K tons)
- Vietnam (1.0K tons)
Exports of Wire of Other Alloy Steel in India
In 2022, approx. 12K tons of wire of other alloy steels were exported from India; with a decrease of -29.2% compared with the year before. Over the period under review, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 162%. As a result, the exports attained the peak of 18K tons, and then declined notably in the following year.
In value terms, wire of other alloy steel exports contracted to $21M in 2022. In general, exports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 178%. As a result, the exports reached the peak of $25M, and then declined in the following year.
| Export of Wire of Other Alloy Steel in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 1,180 | 788 | 2,598 | 4,127 | 51.8% |
| United States | 986 | 2,071 | 3,515 | 2,575 | 37.7% |
| Canada | 6.8 | 62.1 | 675 | 1,897 | 553.4% |
| United Kingdom | 1,707 | 490 | 1,647 | 1,567 | -2.8% |
| Thailand | 539 | 597 | 1,118 | 1,007 | 23.2% |
| Mexico | 2,815 | 625 | 1,623 | 1,004 | -29.1% |
| Japan | 42.1 | 178 | 1,571 | 928 | 180.4% |
| Nepal | 432 | 604 | 1,212 | 840 | 24.8% |
| Indonesia | 83.6 | 111 | 481 | 811 | 113.3% |
| South Korea | 8.1 | 3.9 | 81.3 | 509 | 297.6% |
| Kenya | 307 | 449 | 515 | 494 | 17.2% |
| Saudi Arabia | 267 | 111 | 622 | 369 | 11.4% |
| Argentina | 3.8 | N/A | 301 | 308 | 332.8% |
| Others | 5,949 | 2,801 | 8,787 | 4,753 | -7.2% |
| Total | 14,324 | 8,890 | 24,746 | 21,189 | 13.9% |
Top Export Markets for Wire of Other Alloy Steel from India in 2022:
- United Arab Emirates (2243.2 tons)
- Canada (1681.4 tons)
- United States (1386.1 tons)
- Nepal (927.6 tons)
- Mexico (697.7 tons)
- Thailand (511.3 tons)
- Indonesia (452.7 tons)
- United Kingdom (443.4 tons)
- Japan (419.8 tons)
- Kenya (370.9 tons)
- South Korea (308.6 tons)
- Argentina (257.5 tons)
- Saudi Arabia (243.9 tons)
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