Price for Chain and Parts Thereof, of Iron or Steel in Singapore - 2023
Contents:
- Price for Chain and Parts Thereof, of Iron or Steel in Singapore (CIF) - 2022
- Price for Chain and Parts Thereof, of Iron or Steel in Singapore (FOB) - 2022
- Imports of Chain and Parts Thereof, of Iron or Steel in Singapore
- Exports of Chain and Parts Thereof, of Iron or Steel in Singapore
Price for Chain and Parts Thereof, of Iron or Steel in Singapore (CIF) - 2022
The average import price for chain and parts thereof, of iron or steel stood at $3,019 per ton in 2022, growing by 26% against the previous year. Over the period under review, the import price posted a prominent expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 294% against the previous year. The import price peaked at $3,621 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($9,420 per ton), while the price for South Korea ($1,590 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.2%), 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 Singapore (FOB) - 2022
In 2022, the average export price for chain and parts thereof, of iron or steel amounted to $3,646 per ton, shrinking by -6.6% against the previous year. Over the period under review, the export price continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2014 an increase of 24%. As a result, the export price attained the peak level of $5,511 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($7,511 per ton), while the average price for exports to Trinidad and Tobago ($1,576 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 South Korea (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Chain and Parts Thereof, of Iron or Steel in Singapore
In 2022, imports of chain and parts thereof, of iron or steel into Singapore shrank to 17K tons, which is down by -9.9% compared with 2021 figures. Over the period under review, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 49% against the previous year.
In value terms, imports of chain and parts thereof, of iron or steel stood at $49M in 2022. In general, imports showed a slight descent. The most prominent rate of growth was recorded in 2021 when imports increased by 2.3% against the previous year.
| Import of Chain and Parts Thereof, of Iron or Steel in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 23.3 | 26.1 | 27.6 | 31.4 | 10.5% |
| Japan | 9.6 | 8.4 | 7.5 | 5.0 | -19.5% |
| Taiwan (Chinese) | 1.2 | 0.9 | 1.5 | 1.6 | 10.1% |
| Malaysia | 0.5 | 0.7 | 1.4 | 1.5 | 44.2% |
| South Korea | 5.3 | 0.5 | 0.2 | 0.2 | -66.5% |
| Others | 12.2 | 10.3 | 9.9 | 9.3 | -8.7% |
| Total | 52.0 | 46.9 | 48.0 | 49.1 | -1.9% |
Top Suppliers of Chain and Parts Thereof, of Iron or Steel to Singapore in 2022:
- China (14.0K tons)
- Japan (1.4K tons)
- Malaysia (0.4K tons)
- Taiwan (Chinese) (0.3K tons)
- South Korea (0.2K tons)
Exports of Chain and Parts Thereof, of Iron or Steel in Singapore
In 2022, the amount of chain and parts thereof, of iron or steel exported from Singapore reduced slightly to 11K tons, waning by -4.9% compared with the year before. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 12%.
In value terms, exports of chain and parts thereof, of iron or steel plummeted to $37M in 2022. Overall, exports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of 17%.
| Export of Chain and Parts Thereof, of Iron or Steel in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 8.7 | 9.5 | 8.5 | 11.4 | 9.4% |
| Trinidad and Tobago | N/A | N/A | N/A | 5.5 | 0% |
| Malaysia | 15.3 | 8.0 | 5.3 | 4.6 | -33.0% |
| Japan | 2.9 | 2.7 | 3.5 | 2.9 | 0.0% |
| Vietnam | 3.7 | 8.7 | 2.7 | 2.8 | -8.9% |
| Australia | 2.8 | 2.2 | 0.9 | 0.8 | -34.1% |
| India | 0.9 | 0.6 | 15.2 | 0.8 | -3.9% |
| Philippines | 1.4 | 0.6 | 2.3 | 0.6 | -24.6% |
| China | 1.7 | 0.5 | 1.0 | 0.5 | -33.5% |
| Thailand | 1.9 | 0.7 | 0.6 | 0.5 | -35.9% |
| Myanmar | 0.2 | 1.0 | 2.1 | N/A | 224.0% |
| Others | 8.8 | 5.3 | 4.5 | 6.8 | -8.2% |
| Total | 48.3 | 39.8 | 46.5 | 37.3 | -8.3% |
Top Export Markets for Chain and Parts Thereof, of Iron or Steel from Singapore in 2022:
- Trinidad and Tobago (3490.6 tons)
- Indonesia (3133.7 tons)
- Malaysia (1492.8 tons)
- Japan (771.7 tons)
- Vietnam (370.9 tons)
- Australia (353.7 tons)
- Philippines (168.2 tons)
- Thailand (150.1 tons)
- India (130.4 tons)
- China (127.8 tons)
- Myanmar (1.8 tons)
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