Iron, Steel Or Aluminium Reservoir Prices in China

China Iron, Steel Or Aluminium Reservoir Export Price in September 2022

In September 2022, the iron, steel or aluminium reservoir price amounted to $3,697 per ton (FOB, China), with an increase of 22% against the previous month. Over the last eight-month period, it increased at an average monthly rate of +2.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was Singapore ($7,572 per ton), while the average price for exports to Yemen ($1,248 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

China Iron, Steel Or Aluminium Reservoir Export Prices by Type

There were significant differences in the average prices for the major types of exported product. In September 2022, the product with the highest price was reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment ($16.6 per kg), while the average price for exports of containers for compressed or liquefied gas, of iron or steel ($2,930 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for the following types: reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment (+10.0%), while the prices for the other products experienced more modest paces of growth.

China Iron, Steel Or Aluminium Reservoir Exports

In September 2022, shipments abroad of iron, steel or aluminium reservoirs, tanks, vats and similar containers decreased by -5.5% to 62K tons, falling for the second month in a row after five months of growth. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in July 2022 when exports increased by 22% month-to-month. As a result, the exports reached the peak of 72K tons. From August 2022 to September 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron, steel or aluminium reservoir exports soared to $231M (IndexBox estimates) in September 2022. Over the period under review, total exports indicated a tangible increase from January 2022 to September 2022: its value increased at an average monthly rate of +2.5% over the last eight months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, exports increased by +83.7% against February 2022 indices. The most prominent rate of growth was recorded in March 2022 with an increase of 31% against the previous month. Over the period under review, the exports reached the peak figure in September 2022.

China Iron, Steel Or Aluminium Reservoir Exports by Type

Containers for compressed or liquefied gas, of iron or steel (36K tons), reservoirs, tanks, vats and similar containers, of iron or steel, capacity exceeding 300l, whether or not lined or heat insulated (25K tons) and containers for compressed or liquefied gas, of aluminium (647 tons) were the main products of iron, steel or aluminium reservoir exports from China, together accounting for 99% of total exports. These products were followed by reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment, which accounted for a further 0.5%.

From January 2022 to September 2022, the biggest increases were in reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment (with a CAGR of +1.2%), while shipments for the other products experienced mixed trend patterns.

In value terms, reservoirs, tanks, vats and similar containers, of iron or steel, capacity exceeding 300l, whether or not lined or heat insulated ($113M), containers for compressed or liquefied gas, of iron or steel ($105M) and containers for compressed or liquefied gas, of aluminium ($6.6M) appeared to be the most exported types of iron, steel or aluminium reservoirs, tanks, vats and similar containers from China worldwide, with a combined 98% share of total exports. These products were followed by reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment, which accounted for a further 2.4%.

Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment, with a CAGR of +11.3%, saw the highest rates of growth with regard to the value of exports, among the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.

China Iron, Steel Or Aluminium Reservoir Exports by Country

Indonesia (14K tons) was the main destination for iron, steel or aluminium reservoir exports from China, accounting for a 22% share of total exports. Moreover, iron, steel or aluminium reservoir exports to Indonesia exceeded the volume sent to the second major destination, the United States (4.4K tons), threefold. The Philippines (2.7K tons) ranked third in terms of total exports with a 4.3% share.

From January 2022 to September 2022, the average monthly growth rate of volume to Indonesia stood at +1.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the United States (+4.6% per month) and the Philippines (+0.9% per month).

In value terms, Indonesia ($45M) remains the key foreign market for iron, steel or aluminium reservoir exports from China, comprising 19% of total exports. The second position in the ranking was taken by the United States ($19M), with an 8.2% share of total exports. It was followed by Thailand, with a 6% share.

From January 2022 to September 2022, the average monthly growth rate of value to Indonesia amounted to +4.1%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the United States (+4.6% per month) and Thailand (+8.6% per month).

Source: IndexBox Market Intelligence Platform