Price for Hot-Rolled Wire Rod in Coils in Myanmar - 2023
Contents:
- Price for Hot-Rolled Wire Rod in Coils in Myanmar (CIF) - 2023
- Imports of Hot-Rolled Wire Rod in Coils in Myanmar
Price for Hot-Rolled Wire Rod in Coils in Myanmar (CIF) - 2023
The average import price for hot-rolled wire rods in coils stood at $635 per ton in December 2023, dropping by -6.5% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 when the average import price increased by 15% m-o-m. As a result, import price reached the peak level of $697 per ton. From March 2023 to December 2023, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the country with the highest price was China ($766 per ton), while the price for Malaysia ($631 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Japan (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Hot-Rolled Wire Rod in Coils in Myanmar
In 2022, overseas purchases of hot-rolled wire rods in coils decreased by -36.1% to 132K tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 149% against the previous year. As a result, imports attained the peak of 236K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, hot-rolled wire rod in coils imports fell sharply to $90M in 2022. In general, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 136%. As a result, imports reached the peak of $114M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Hot-Rolled Wire Rod in Coils in Myanmar (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Oman | N/A | 22.0 | 34.7 | 26.8 | 10.4% |
| Singapore | 10.1 | 15.7 | 15.5 | 12.8 | 8.2% |
| Iran | 18.6 | 38.7 | 7.0 | 9.5 | -20.1% |
| Indonesia | 1.6 | 5.9 | 10.1 | 8.8 | 76.5% |
| Turkey | 2.4 | 5.1 | 6.1 | 6.1 | 36.5% |
| China | 6.0 | 6.9 | 6.0 | 5.5 | -2.9% |
| India | 2.1 | 2.6 | 5.6 | 5.1 | 34.4% |
| United Arab Emirates | 0.8 | 8.1 | 10.1 | 4.7 | 80.4% |
| Others | 6.6 | 9.0 | 10.5 | 10.2 | 15.6% |
| Total | 48.2 | 114 | 106 | 89.5 | 22.9% |
Top Suppliers of Hot-Rolled Wire Rod in Coils to Myanmar in 2022:
- Oman (48.0K tons)
- Singapore (16.0K tons)
- Indonesia (13.3K tons)
- Iran (10.9K tons)
- Turkey (10.3K tons)
- China (8.7K tons)
- India (6.9K tons)
- United Arab Emirates (5.9K tons)
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