Report Update: May 1, 2024

Singapore - Hot-Rolled Wire Rod In Coil Of Stainless Steel - Market Analysis, Forecast, Size, Trends And Insights

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Price for Hot-Rolled Wire Stainless Steel Rod in Singapore - 2022

Price for Hot-Rolled Wire Stainless Steel Rod in Singapore (CIF) - 2022

In September 2022, the average import price for hot-rolled wire rod in coil of stainless steel amounted to $4,756 per ton, dropping by -24% against the previous month. Overall, the import price saw a noticeable curtailment. The most prominent rate of growth was recorded in August 2022 an increase of 24% month-to-month. The import price peaked at $6,915 per ton in January 2022; however, from February 2022 to September 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In September 2022, the highest price was recorded for prices from China ($5,345 per ton) and Japan ($4,687 per ton), while the price for Malaysia ($4,010 per ton) and India ($4,524 per ton) were amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Hot-Rolled Wire Stainless Steel Rod in Singapore (FOB) - 2022

The average export price for hot-rolled wire rod in coil of stainless steel stood at $6,401 per ton in September 2022, falling by -7.7% against the previous month. In general, export price indicated a prominent increase from January 2022 to September 2022: its price increased at an average monthly rate of +8.7% over the last eight months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, hot-rolled wire stainless steel rod export price increased by +27.3% against July 2022 indices. The pace of growth was the most pronounced in April 2022 when the average export price increased by 40% month-to-month. Over the period under review, the average export prices attained the maximum at $6,937 per ton in August 2022, and then declined in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was Malaysia ($14,577 per ton), while the average price for exports to Indonesia totaled $5,797 per ton.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+36.0%).

Imports of Hot-Rolled Wire Stainless Steel Rod in Singapore

After three years of growth, overseas purchases of hot-rolled wire rod in coil of stainless steel decreased by -21.6% to 4.6K tons in 2022. In general, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 409% against the previous year. As a result, imports attained the peak of 5.9K tons, and then plummeted in the following year.

In value terms, hot-rolled wire stainless steel rod imports expanded slightly to $19M in 2022. Overall, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 190%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Import of Hot-Rolled Wire Stainless Steel Rod in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	0.3	0.1	10.9	9.8	219.7%
India	0.1	0.4	2.4	3.9	239.1%
Malaysia	1.3	1.0	1.4	1.4	2.5%
Japan	0.9	0.7	1.1	0.5	-17.8%
Others	0.9	4.4	3.0	3.6	58.7%
Total	3.5	6.5	18.8	19.2	76.4%

Top Suppliers of Hot-Rolled Wire Stainless Steel Rod to Singapore in 2022:

China (2740.0 tons)
India (1096.5 tons)
Malaysia (499.8 tons)
Japan (130.7 tons)

Exports of Hot-Rolled Wire Stainless Steel Rod in Singapore

In 2022, exports of hot-rolled wire rod in coil of stainless steel from Singapore contracted dramatically to 4.7K tons, which is down by -28.4% against the year before. Over the period under review, exports, however, posted a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of 194%. As a result, the exports reached the peak of 6.6K tons, and then shrank significantly in the following year.

In value terms, hot-rolled wire stainless steel rod exports shrank to $14M in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 612% against the previous year. As a result, the exports attained the peak of $16M, and then fell in the following year.

Export of Hot-Rolled Wire Stainless Steel Rod in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	0.5	0.6	13.9	13.3	198.5%
Malaysia	1.2	1.2	0.5	0.5	-25.3%
Others	1.6	0.5	1.4	0.7	-24.1%
Total	3.3	2.2	15.8	14.5	63.8%

Top Export Markets for Hot-Rolled Wire Stainless Steel Rod from Singapore in 2022:

Indonesia (3.7K tons)
Malaysia (0.9K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for hot-rolled wire stainless steel rod in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel

Country coverage:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023