Aluminium Wire Price in Saudi Arabia - 2021
Contents:
- Aluminium Wire Price in Saudi Arabia (CIF) - 2022
- Aluminium Wire Price in Saudi Arabia (FOB) - 2022
- Aluminium Wire Imports in Saudi Arabia
- Aluminium Wire Exports in Saudi Arabia
Aluminium Wire Price in Saudi Arabia (CIF) - 2022
In 2022, the average aluminium wire import price amounted to $2,276 per ton, with a decrease of -14.3% against the previous year. Over the period under review, the import price showed a noticeable downturn. The growth pace was the most rapid in 2021 when the average import price increased by 34% against the previous year. The import price peaked at $3,004 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Bahrain ($2,518 per ton) and India ($2,344 per ton), while the price for Oman ($1,920 per ton) and the United Arab Emirates ($1,942 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+0.3%), while the prices for the other major suppliers experienced a decline.
Aluminium Wire Price in Saudi Arabia (FOB) - 2022
The average aluminium wire export price stood at $2,237 per ton in 2022, surging by 5.2% against the previous year. Over the period under review, the export price, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2016 when the average export price increased by 22% against the previous year. As a result, the export price reached the peak level of $3,373 per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.
Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Kuwait ($2,430 per ton) and Bahrain ($1,776 per ton), while the average price for exports to Iraq ($1,662 per ton) and the United Arab Emirates ($1,768 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+1.7%), while the prices for the other major destinations experienced a decline.
Aluminium Wire Imports in Saudi Arabia
In 2022, the amount of aluminium wires imported into Saudi Arabia surged to 69K tons, growing by 16% against 2021 figures. Overall, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +15.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.9% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 74%. As a result, imports reached the peak of 79K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, aluminium wire imports shrank to $158M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +17.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 59%.
| Import of Aluminium Wire in Saudi Arabia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bahrain | 27.1 | 71.6 | 92.8 | 73.9 | 39.7% |
| United Arab Emirates | 52.6 | 51.6 | 17.8 | 41.1 | -7.9% |
| India | 3.2 | 21.1 | 43.3 | 34.5 | 120.9% |
| Oman | 13.7 | 10.1 | 3.3 | 7.3 | -18.9% |
| Others | 1.4 | 1.8 | 1.7 | 0.7 | -20.6% |
| Total | 98.0 | 156 | 159 | 158 | 17.3% |
Top Suppliers of Aluminium Wire to Saudi Arabia in 2022:
- Bahrain (29.4K tons)
- United Arab Emirates (21.2K tons)
- India (14.7K tons)
- Oman (3.8K tons)
Aluminium Wire Exports in Saudi Arabia
In 2022, after two years of decline, there was significant growth in overseas shipments of aluminium wires, when their volume increased by 8.9% to 7.2K tons. Overall, exports, however, recorded a abrupt curtailment.
In value terms, aluminium wire exports rose markedly to $16M in 2022. In general, exports, however, faced a deep reduction.
| Export of Aluminium Wire in Saudi Arabia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kuwait | 12.6 | 13.5 | 12.0 | 12.1 | -1.3% |
| United Arab Emirates | 3.7 | 1.2 | N/A | 1.7 | -22.8% |
| Bahrain | 0.5 | 0.8 | 1.4 | 1.3 | 37.5% |
| Iraq | 0.2 | 1.9 | 0.1 | 0.7 | 51.8% |
| Egypt | 3.0 | N/A | 0.2 | N/A | -74.2% |
| Others | 3.0 | 0.7 | 0.2 | 0.3 | -53.6% |
| Total | 22.9 | 18.1 | 14.0 | 16.1 | -11.1% |
Top Export Markets for Aluminium Wire from Saudi Arabia in 2022:
- Kuwait (5.0K tons)
- United Arab Emirates (0.9K tons)
- Bahrain (0.7K tons)
- Iraq (0.4K tons)
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