Price for Chain and Parts Thereof, of Iron or Steel in Norway - 2024

Contents:

1. Price for Chain and Parts Thereof, of Iron or Steel in Norway (CIF) - 2024
2. Price for Chain and Parts Thereof, of Iron or Steel in Norway (FOB) - 2022
3. Imports of Chain and Parts Thereof, of Iron or Steel in Norway
4. Exports of Chain and Parts Thereof, of Iron or Steel in Norway

Price for Chain and Parts Thereof, of Iron or Steel in Norway (CIF) - 2024

The average import price for chain and parts thereof, of iron or steel stood at $3,710 per ton in January 2024, rising by 9.2% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in November 2023 when the average import price increased by 44% against the previous month. As a result, import price attained the peak level of $4,138 per ton. From December 2023 to January 2024, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was Germany ($20,772 per ton), while the price for China ($2,158 per ton) was amongst the lowest.

From March 2023 to January 2024, the most notable rate of growth in terms of prices was attained by the Netherlands (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Chain and Parts Thereof, of Iron or Steel in Norway (FOB) - 2022

The average export price for chain and parts thereof, of iron or steel stood at $3,091 per ton in 2022, reducing by -2.5% against the previous year. In general, the export price recorded a perceptible descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 15% against the previous year. The export price peaked at $5,310 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($9,307 per ton), while the average price for exports to Lithuania ($1,931 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 Equatorial Guinea (+38.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Chain and Parts Thereof, of Iron or Steel in Norway

Imports of chain and parts thereof, of iron or steel into Norway declined modestly to 25K tons in 2022, which is down by -3.7% compared with the year before. The total import volume increased at an average annual rate of +1.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 9%. As a result, imports attained the peak of 26K tons, and then dropped in the following year.

In value terms, imports of chain and parts thereof, of iron or steel stood at $82M in 2022. The total import value increased at an average annual rate of +6.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 11%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Top Suppliers of Chain and Parts Thereof, of Iron or Steel to Norway in 2022:

1. China (11.1K tons)
2. Spain (7.7K tons)
3. Sweden (2.1K tons)
4. Lithuania (1.5K tons)
5. United Kingdom (0.5K tons)

Exports of Chain and Parts Thereof, of Iron or Steel in Norway

In 2022, approx. 11K tons of chain and parts thereof, of iron or steel were exported from Norway; with an increase of 41% against the year before. Overall, total exports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +6.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.5% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of chain and parts thereof, of iron or steel soared to $38M in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +84.9% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Chain and Parts Thereof, of Iron or Steel from Norway in 2022:

1. Lithuania (3208.2 tons)
2. Netherlands (1441.6 tons)
3. Canada (1377.9 tons)
4. United Kingdom (892.9 tons)
5. Denmark (810.3 tons)
6. Gabon (673.6 tons)
7. Russia (531.1 tons)
8. Iceland (467.2 tons)
9. Sweden (412.0 tons)
10. Faroe Islands (273.8 tons)
11. Spain (252.3 tons)
12. Equatorial Guinea (191.1 tons)
13. United States (107.0 tons)

Source: IndexBox Market Intelligence Platform