Stainless Steel Wire Price in Singapore - 2022
Contents:
- Stainless Steel Wire Price in Singapore (CIF) - 2022
- Stainless Steel Wire Price in Singapore (FOB) - 2022
- Stainless Steel Wire Imports in Singapore
- Stainless Steel Wire Exports in Singapore
Stainless Steel Wire Price in Singapore (CIF) - 2022
In September 2022, the average stainless steel wire import price amounted to $13,170 per ton, jumping by 46% against the previous month. Over the period under review, import price indicated noticeable growth from January 2022 to September 2022: its price increased at an average monthly rate of +4.1% over the last eight-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, stainless steel wire import price decreased by -15.9% against May 2022 indices. The pace of growth appeared the most rapid in May 2022 an increase of 91% against the previous month. As a result, import price reached the peak level of $15,667 per ton. From June 2022 to September 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Sweden ($33,015 per ton), while the price for Indonesia ($6,007 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Stainless Steel Wire Price in Singapore (FOB) - 2022
The average stainless steel wire export price stood at $5,956 per ton in 2022, leveling off at the previous year. Over the period under review, the export price, however, posted a temperate increase. The most prominent rate of growth was recorded in 2017 an increase of 78%. Over the period under review, the average export prices attained the maximum at $5,999 per ton in 2021, and then dropped slightly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($7,299 per ton), while the average price for exports to Poland ($2,208 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 (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.
Stainless Steel Wire Imports in Singapore
In 2022, purchases abroad of stainless steel wire was finally on the rise to reach 2.8K tons after two years of decline. In general, imports, however, faced a deep reduction.
In value terms, stainless steel wire imports surged to $20M in 2022. Over the period under review, imports, however, continue to indicate a drastic downturn.
| Import of Stainless Steel Wire in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 6.2 | 7.3 | 4.2 | 5.1 | -6.3% |
| India | 1.5 | 1.3 | 1.6 | 1.9 | 8.2% |
| Indonesia | 0.9 | 1.2 | 1.1 | 1.3 | 13.0% |
| Japan | 2.3 | 2.4 | 1.0 | 1.3 | -17.3% |
| Sweden | 4.5 | 1.6 | 0.3 | 1.2 | -35.6% |
| China | 3.4 | 1.2 | 0.9 | 1.2 | -29.3% |
| Thailand | 1.6 | 2.2 | 1.0 | 1.2 | -9.1% |
| Taiwan (Chinese) | 0.9 | 0.9 | 0.9 | 1.1 | 6.9% |
| Italy | 0.9 | 0.2 | 0.6 | 0.8 | -3.9% |
| Others | 6.7 | 5.6 | 4.3 | 4.7 | -11.1% |
| Total | 29.1 | 23.8 | 15.8 | 19.8 | -12.0% |
Top Suppliers of Stainless Steel Wire to Singapore in 2022:
- South Korea (885.8 tons)
- China (363.6 tons)
- Indonesia (343.1 tons)
- India (291.7 tons)
- Japan (206.5 tons)
- Taiwan (Chinese) (205.4 tons)
- Thailand (142.7 tons)
- Sweden (93.1 tons)
- Italy (77.1 tons)
Stainless Steel Wire Exports in Singapore
In 2022, overseas shipments of stainless steel wire were finally on the rise to reach 1.9K tons after two years of decline. Overall, exports, however, saw a deep downturn.
In value terms, stainless steel wire exports soared to $11M in 2022. In general, exports, however, saw a noticeable setback.
| Export of Stainless Steel Wire in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 4.3 | 6.1 | 3.6 | 4.6 | 2.3% |
| Indonesia | 4.5 | 3.2 | 3.3 | 4.2 | -2.3% |
| Philippines | 0.9 | 0.8 | 0.5 | 0.7 | -8.0% |
| Thailand | 0.8 | 0.8 | 0.4 | 0.5 | -14.5% |
| Poland | 0.6 | 0.4 | 0.2 | 0.3 | -20.6% |
| Others | 1.4 | 2.1 | 1.3 | 1.1 | -7.7% |
| Total | 12.6 | 13.4 | 9.5 | 11.4 | -3.3% |
Top Export Markets for Stainless Steel Wire from Singapore in 2022:
- Indonesia (1007.9 tons)
- Malaysia (985.4 tons)
- Poland (140.5 tons)
- Philippines (132.0 tons)
- Thailand (91.4 tons)
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