Price for Hot-Rolled Wire Rod in Coils in Vietnam - 2022
Contents:
- Price for Hot-Rolled Wire Rod in Coils in Vietnam (FOB) - 2022
- Price for Hot-Rolled Wire Rod in Coils in Vietnam (CIF) - 2022
- Exports of Hot-Rolled Wire Rod in Coils in Vietnam
- Imports of Hot-Rolled Wire Rod in Coils in Vietnam
Price for Hot-Rolled Wire Rod in Coils in Vietnam (FOB) - 2022
The average export price for hot-rolled wire rods in coils stood at $911 per ton in December 2022, almost unchanged from the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in January 2022 when the average export price increased by 13% against the previous month. The export price peaked at $932 per ton in March 2022; however, from April 2022 to December 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major external markets. In December 2022, the highest price was recorded for prices to Taiwan (Chinese) ($917 per ton) and Malaysia ($916 per ton), while the average price for exports to Cambodia ($899 per ton) and Lao People's Democratic Republic ($905 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Hot-Rolled Wire Rod in Coils in Vietnam (CIF) - 2022
The average import price for hot-rolled wire rods in coils stood at $1,475 per ton in December 2022, surging by 11% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.3%. The pace of growth appeared the most rapid in January 2022 when the average import price increased by 18% against the previous month. The import price peaked at $1,493 per ton in July 2022; afterwards, it flattened through to December 2022.
Prices varied noticeably by the country of origin: the country with the highest price was China ($2,631 per ton), while the price for Thailand ($965 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Hot-Rolled Wire Rod in Coils in Vietnam
In 2022, shipments abroad of hot-rolled wire rods in coils decreased by -15.3% to 546K tons, falling for the second consecutive year after two years of growth. Over the period under review, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +10.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -21.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 73%. As a result, the exports reached the peak of 697K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, hot-rolled wire rod in coils exports expanded sharply to $493M in 2022. In general, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +26.6% 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 +102.7% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 58% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.
| Export of Hot-Rolled Wire Rod in Coils in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cambodia | 124 | 99.8 | 65.8 | 108 | -4.5% |
| Thailand | 35.4 | 54.8 | 51.1 | 74.5 | 28.1% |
| Japan | 21.3 | 27.3 | 51.2 | 60.0 | 41.2% |
| South Korea | 1.1 | 0.2 | 35.3 | 57.4 | 273.7% |
| Canada | N/A | 9.7 | 36.2 | 51.5 | 130.4% |
| Malaysia | 20.7 | 46.4 | 24.3 | 32.9 | 16.7% |
| Philippines | 3.0 | 34.6 | 51.5 | 27.6 | 109.5% |
| Australia | 1.0 | 0.8 | 21.6 | 25.9 | 195.9% |
| China | 0.1 | 36.9 | 57.3 | 0.1 | 0.0% |
| Others | 36.6 | 73.6 | 61.7 | 54.6 | 14.3% |
| Total | 243 | 384 | 456 | 493 | 26.6% |
Top Export Markets for Hot-Rolled Wire Rod in Coils from Vietnam in 2022:
- Cambodia (122.5K tons)
- Thailand (81.3K tons)
- Japan (67.1K tons)
- South Korea (60.3K tons)
- Canada (57.6K tons)
- Malaysia (36.3K tons)
- Philippines (30.8K tons)
- Australia (29.0K tons)
- China (0.2K tons)
Imports of Hot-Rolled Wire Rod in Coils in Vietnam
In 2022, the amount of hot-rolled wire rods in coils imported into Vietnam shrank to 321K tons, waning by -12.5% against 2021 figures. Overall, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 18%.
In value terms, hot-rolled wire rod in coils imports rose to $429M in 2022. In general, total imports indicated a perceptible increase from 2019 to 2022: its value increased at an average annual rate of +2.0% 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 +74.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 68%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.
| Import of Hot-Rolled Wire Rod in Coils in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 152 | 81.1 | 130 | 149 | -0.7% |
| China | 104 | 67.7 | 156 | 129 | 7.4% |
| Japan | 67.3 | 46.6 | 66.4 | 70.7 | 1.7% |
| Taiwan (Chinese) | 42.2 | 40.7 | 51.9 | 54.5 | 8.9% |
| Malaysia | 31.9 | 6.3 | N/A | 10.9 | -30.1% |
| Thailand | N/A | 0.2 | 1.4 | 7.2 | 500.0% |
| Others | 6.3 | 3.1 | 6.6 | 7.7 | 6.9% |
| Total | 404 | 246 | 413 | 429 | 2.0% |
Top Suppliers of Hot-Rolled Wire Rod in Coils to Vietnam in 2022:
- South Korea (142.0K tons)
- China (69.9K tons)
- Japan (62.7K tons)
- Taiwan (Chinese) (24.8K tons)
- Malaysia (11.5K tons)
- Thailand (7.6K tons)
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