Australia and Oceania: Market for Stainless Steel in Ingots or other Primary Forms 2024

Market Size for Stainless Steel in Ingots or other Primary Forms in Australia and Oceania

In 2023, the market for stainless steel in ingots or other primary forms in Australia and Oceania was finally on the rise to reach $X after two years of decline. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Stainless Steel in Ingots or other Primary Forms in Australia and Oceania

In value terms, production of stainless steel in ingots or other primary forms skyrocketed to $X in 2023 estimated in export price. The total production indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production of attained the maximum level in 2023 and is likely to see gradual growth in the near future.

Exports of Stainless Steel in Ingots or other Primary Forms

Exports in Australia and Oceania

After two years of growth, shipments abroad of stainless steel in ingots or other primary forms decreased by X% to X tons in 2023. Overall, exports, however, posted notable growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2022, and then contracted dramatically in the following year.

In value terms, exports of stainless steel in ingots or other primary forms declined significantly to $X in 2023. Over the period under review, exports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of X%. The level of export peaked at $X in 2022, and then reduced markedly in the following year.

Exports by Country

Australia prevails in forms structure, finishing at X tons, which was near X% of total exports in 2023. New Zealand (X tons) followed a long way behind the leaders.

Exports from Australia increased at an average annual rate of X% from 2012 to 2023. At the same time, New Zealand (X%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of New Zealand increased by X percentage points.

In value terms, Australia ($X) remains the largest stainless steel in ingots or other primary forms supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Australia amounted to X%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2023, increasing by X% against the previous year. In general, the export price enjoyed prominent growth. The pace of growth was the most pronounced in 2019 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2023 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%).

Imports of Stainless Steel in Ingots or other Primary Forms

Imports in Australia and Oceania

In 2023, purchases abroad of stainless steel in ingots or other primary forms decreased by X% to X tons, falling for the fifth consecutive year after three years of growth. Over the period under review, imports saw a deep contraction. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, imports of stainless steel in ingots or other primary forms dropped rapidly to $X in 2023. Overall, imports saw a pronounced reduction. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Australia (X tons) was the major importer of stainless steel in ingots or other primary forms, constituting X% of total imports. Papua New Guinea (X tons) ranks second in terms of the total imports with a X% share, followed by New Zealand (X%), Fiji (X%) and Samoa (X%). Solomon Islands (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Samoa (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest stainless steel in ingots or other primary forms importing markets in Australia and Oceania were Australia ($X), New Zealand ($X) and Papua New Guinea ($X), together comprising X% of total imports. Fiji, Solomon Islands and Samoa lagged somewhat behind, together comprising a further X%.

Samoa, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2023, increasing by X% against the previous year. In general, the import price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The level of import peaked in 2023 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per ton), while Samoa ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform