Price for Wire of Other Alloy Steel in Saudi Arabia - 2022
Contents:
- Price for Wire of Other Alloy Steel in Saudi Arabia (FOB) - 2022
- Price for Wire of Other Alloy Steel in Saudi Arabia (CIF) - 2022
- Exports of Wire of Other Alloy Steel in Saudi Arabia
- Imports of Wire of Other Alloy Steel in Saudi Arabia
Price for Wire of Other Alloy Steel in Saudi Arabia (FOB) - 2022
In 2021, the average export price for wire of other alloy steels amounted to $722 per ton, increasing by 12% against the previous year. Over the period under review, the export price, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2016 when the average export price increased by 36% against the previous year. The export price peaked at $1,006 per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.
Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($724 per ton), while the average price for exports to Oman totaled $710 per ton.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (-1.3%), while the prices for the other major destinations experienced a decline.
Price for Wire of Other Alloy Steel in Saudi Arabia (CIF) - 2022
In 2021, the average import price for wire of other alloy steels amounted to $1,624 per ton, jumping by 63% against the previous year. Over the period under review, the import price posted a modest increase. The pace of growth appeared the most rapid in 2017 when the average import price increased by 129%. Over the period under review, average import prices reached the maximum at $2,528 per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($4,518 per ton), while the price for China ($1,223 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Wire of Other Alloy Steel in Saudi Arabia
In 2022, shipments abroad of wire of other alloy steels decreased by -98.3% to 617 tons for the first time since 2018, thus ending a three-year rising trend. In general, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2020 with an increase of 17%.
In value terms, wire of other alloy steel exports reduced remarkably to $451K in 2022. Overall, exports faced a dramatic slump. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year.
| Export of Wire of Other Alloy Steel in Saudi Arabia (Million USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| United Arab Emirates | 6.2 | 45.3 | 11.0 | 33.2% |
| Oman | 0.8 | 3.7 | 1.8 | 50.0% |
| Others | 7.4 | -29.0 | 12.8 | 31.5% |
| Total | 14.4 | 20.0 | 25.5 | 33.1% |
Top Export Markets for Wire of Other Alloy Steel from Saudi Arabia in 2022:
- United Arab Emirates (15.2K tons)
- Oman (2.5K tons)
Imports of Wire of Other Alloy Steel in Saudi Arabia
In 2021, wire of other alloy steel imports into Saudi Arabia skyrocketed to 6.6K tons, surging by 40% on 2020 figures. Overall, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 99% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.
In value terms, wire of other alloy steel imports soared to $11M in 2021. In general, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Wire of Other Alloy Steel in Saudi Arabia (Million USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| India | N/A | 2.4 | 4.1 | 70.8% |
| China | 0.3 | 1.7 | 3.1 | 221.5% |
| Czech Republic | 0.3 | N/A | 2.3 | 176.9% |
| South Korea | 1.3 | N/A | N/A | 0% |
| Turkey | N/A | 0.3 | N/A | 0% |
| Others | 1.0 | 0.3 | 1.2 | 9.5% |
| Total | 2.9 | 4.7 | 10.7 | 92.1% |
Top Suppliers of Wire of Other Alloy Steel to Saudi Arabia in 2022:
- India (3.2K tons)
- China (2.6K tons)
- Czech Republic (0.5K tons)
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