Price for Chain and Parts Thereof, of Iron or Steel in India - 2023
Contents:
- Price for Chain and Parts Thereof, of Iron or Steel in India (CIF) - 2022
- Price for Chain and Parts Thereof, of Iron or Steel in India (FOB) - 2023
- Imports of Chain and Parts Thereof, of Iron or Steel in India
- Exports of Chain and Parts Thereof, of Iron or Steel in India
Price for Chain and Parts Thereof, of Iron or Steel in India (CIF) - 2022
In 2022, the average import price for chain and parts thereof, of iron or steel amounted to $3,334 per ton, falling by -5.3% against the previous year. Overall, the import price saw a pronounced downturn. The growth pace was the most rapid in 2017 when the average import price increased by 10% against the previous year. Over the period under review, average import prices hit record highs at $4,735 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($12,837 per ton), while the price for China ($1,799 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+12.4%), 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 India (FOB) - 2023
The average export price for chain and parts thereof, of iron or steel stood at $4,920 per ton in November 2023, approximately reflecting the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 when the average export price increased by 10% m-o-m. Over the period under review, the average export prices reached the peak figure at $5,034 per ton in August 2023; however, from September 2023 to November 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In November 2023, the country with the highest price was Egypt ($11,214 per ton), while the average price for exports to Nepal ($1,767 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Chain and Parts Thereof, of Iron or Steel in India
In 2022, the amount of chain and parts thereof, of iron or steel imported into India amounted to 25K tons, flattening at 2021. The total import volume increased at an average annual rate of +5.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 37%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the near future.
In value terms, imports of chain and parts thereof, of iron or steel plummeted to $82M in 2022. Over the period under review, total imports indicated a temperate increase from 2019 to 2022: its value increased at an average annual rate of +4.0% 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 +41.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 69% against the previous year. As a result, imports attained the peak of $98M, and then declined dramatically in the following year.
| Import of Chain and Parts Thereof, of Iron or Steel in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 28.2 | 24.1 | 34.4 | 35.5 | 8.0% |
| Germany | 10.4 | 7.3 | 9.6 | 10.3 | -0.3% |
| Japan | 6.5 | 6.8 | 6.8 | 8.0 | 7.2% |
| Taiwan (Chinese) | 3.7 | 3.0 | 3.8 | 3.6 | -0.9% |
| Thailand | 5.7 | 3.3 | 3.6 | 3.2 | -17.5% |
| Singapore | 3.0 | 1.9 | 23.3 | 3.1 | 1.1% |
| Malaysia | 2.2 | 1.9 | 1.7 | 1.0 | -23.1% |
| Others | 13.1 | 9.7 | 14.6 | 17.2 | 9.5% |
| Total | 72.9 | 58.0 | 97.9 | 81.9 | 4.0% |
Top Suppliers of Chain and Parts Thereof, of Iron or Steel to India in 2022:
- China (19.7K tons)
- Taiwan (Chinese) (1.0K tons)
- Japan (0.8K tons)
- Germany (0.8K tons)
- Singapore (0.3K tons)
- Thailand (0.3K tons)
- Malaysia (0.2K tons)
Exports of Chain and Parts Thereof, of Iron or Steel in India
In 2022, the amount of chain and parts thereof, of iron or steel exported from India expanded significantly to 15K tons, with an increase of 7.7% compared with the previous year. The total export volume increased at an average annual rate of +4.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 41%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of chain and parts thereof, of iron or steel expanded markedly to $69M in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +9.9% 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 +58.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 44%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see gradual growth in the near future.
| Export of Chain and Parts Thereof, of Iron or Steel in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 11.7 | 10.5 | 16.1 | 15.3 | 9.4% |
| Germany | 6.3 | 4.8 | 6.8 | 8.8 | 11.8% |
| Colombia | 2.1 | 1.9 | 3.3 | 3.2 | 15.1% |
| United Arab Emirates | 1.3 | 1.3 | 1.7 | 2.9 | 30.7% |
| Bangladesh | 1.9 | 1.5 | 2.5 | 2.8 | 13.8% |
| Italy | 2.2 | 1.3 | 1.9 | 2.1 | -1.5% |
| France | 0.5 | 0.5 | 1.3 | 2.0 | 58.7% |
| Belgium | 3.0 | 1.7 | 3.3 | 2.0 | -12.6% |
| Turkey | 1.6 | 1.1 | 0.9 | 1.9 | 5.9% |
| Kenya | 0.4 | 0.5 | 1.0 | 1.7 | 62.0% |
| Spain | 1.6 | 1.1 | 1.2 | 1.3 | -6.7% |
| Uganda | 0.9 | 1.1 | 1.1 | 1.2 | 10.1% |
| Finland | 0.4 | 0.3 | 0.4 | 0.8 | 26.0% |
| Others | 18.1 | 15.7 | 20.9 | 22.9 | 8.2% |
| Total | 51.8 | 43.3 | 62.5 | 68.8 | 9.9% |
Top Export Markets for Chain and Parts Thereof, of Iron or Steel from India in 2022:
- United States (3.8K tons)
- Germany (2.3K tons)
- Italy (0.6K tons)
- France (0.6K tons)
- Belgium (0.6K tons)
- Bangladesh (0.6K tons)
- Turkey (0.5K tons)
- Colombia (0.5K tons)
- United Arab Emirates (0.5K tons)
- Kenya (0.5K tons)
- Spain (0.4K tons)
- Uganda (0.3K tons)
- Finland (0.2K tons)
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