Price for Hot-Rolled Wire Rod in Coils in Kuwait - 2022
Contents:
- Price for Hot-Rolled Wire Rod in Coils in Kuwait (CIF) - 2022
- Price for Hot-Rolled Wire Rod in Coils in Kuwait (FOB) - 2022
- Imports of Hot-Rolled Wire Rod in Coils in Kuwait
- Exports of Hot-Rolled Wire Rod in Coils in Kuwait
Price for Hot-Rolled Wire Rod in Coils in Kuwait (CIF) - 2022
In 2022, the average import price for hot-rolled wire rods in coils amounted to $920 per ton, with an increase of 9.1% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled wire rod in coils import price increased by +77.7% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of 38% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.
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 South Korea ($1,923 per ton), while the price for Saudi Arabia ($856 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Hot-Rolled Wire Rod in Coils in Kuwait (FOB) - 2022
The average export price for hot-rolled wire rods in coils stood at $1,182 per ton in 2022, picking up by 5.3% against the previous year. Over the period under review, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2019 an increase of 22%. The export price peaked in 2022 and is likely to see gradual growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($4,433 per ton), while the average price for exports to India ($1,071 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 Pakistan (+42.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Hot-Rolled Wire Rod in Coils in Kuwait
In 2022, hot-rolled wire rod in coils imports into Kuwait soared to 32K tons, jumping by 62% against 2021. Over the period under review, imports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2021 when imports increased by 203%.
In value terms, hot-rolled wire rod in coils imports surged to $30M in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 316% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Hot-Rolled Wire Rod in Coils in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 5.8 | 1.6 | 8.6 | 19.6 | 50.1% |
| United Arab Emirates | 17.3 | 1.9 | 3.9 | 4.7 | -35.2% |
| Iran | 3.2 | 0.1 | 2.1 | 3.2 | 0.0% |
| Turkey | 1.2 | 0.1 | 0.8 | 0.8 | -12.6% |
| Others | 2.3 | 0.3 | 1.4 | 1.5 | -13.3% |
| Total | 29.7 | 4.0 | 16.8 | 29.7 | 0.0% |
Top Suppliers of Hot-Rolled Wire Rod in Coils to Kuwait in 2022:
- Saudi Arabia (22.9K tons)
- United Arab Emirates (4.2K tons)
- Iran (3.5K tons)
- Turkey (0.6K tons)
Exports of Hot-Rolled Wire Rod in Coils in Kuwait
For the fourth consecutive year, Kuwait recorded growth in shipments abroad of hot-rolled wire rods in coils, which increased by 14% to 247 tons in 2022. Over the period under review, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +18.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.8% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 30%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, hot-rolled wire rod in coils exports surged to $292K in 2022. Overall, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 27% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.
| Export of Hot-Rolled Wire Rod in Coils in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 126 | 185 | 208 | 260 | 27.3% |
| Saudi Arabia | 10.3 | 17.2 | 21.3 | 29.2 | 41.5% |
| Pakistan | 22.5 | N/A | 1.0 | 0.6 | -70.1% |
| Others | 3.8 | 4.1 | 13.9 | 2.5 | -13.0% |
| Total | 163 | 206 | 244 | 292 | 21.5% |
Top Export Markets for Hot-Rolled Wire Rod in Coils from Kuwait in 2022:
- India (242.9 tons)
- Saudi Arabia (3.7 tons)
- Pakistan (0.1 tons)
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