Price for Iron and Non-Alloy Steel in Ingot in Japan - 2023

Contents:

1. Price for Iron and Non-Alloy Steel in Ingot in Japan (CIF) - 2022
2. Price for Iron and Non-Alloy Steel in Ingot in Japan (FOB) - 2022
3. Imports of Iron and Non-Alloy Steel in Ingot in Japan
4. Exports of Iron and Non-Alloy Steel in Ingot in Japan

Price for Iron and Non-Alloy Steel in Ingot in Japan (CIF) - 2022

In 2022, the average import price for iron and non-alloy steel in ingots amounted to $1,523 per ton, growing by 39% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt descent. Over the period under review, average import prices reached the maximum at $10,795 per ton in 2012; however, from 2013 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 the United States ($2,934 per ton), while the price for South Korea ($920 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.1%), while the prices for the other major suppliers experienced a decline.

Price for Iron and Non-Alloy Steel in Ingot in Japan (FOB) - 2022

In 2022, the average export price for iron and non-alloy steel in ingots amounted to $984 per ton, declining by -42.9% against the previous year. In general, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 124% against the previous year. As a result, the export price attained the peak level of $3,672 per ton. From 2018 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 Belgium ($2,817 per ton), while the average price for exports to South Korea ($1,006 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 (-2.1%), while the prices for the other major destinations experienced a decline.

Imports of Iron and Non-Alloy Steel in Ingot in Japan

After three years of growth, purchases abroad of iron and non-alloy steel in ingots decreased by -3.9% to 2K tons in 2022. The total import volume increased at an average annual rate of +8.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 23% against the previous year. As a result, imports reached the peak of 2.1K tons, and then shrank in the following year.

In value terms, imports of iron and non-alloy steel in ingots surged to $3.1M in 2022. Overall, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 47%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Iron and Non-Alloy Steel in Ingot to Japan in 2022:

1. China (1871.7 tons)
2. South Korea (384.0 tons)
3. United States (120.2 tons)

Exports of Iron and Non-Alloy Steel in Ingot in Japan

In 2022, the amount of iron and non-alloy steel in ingots exported from Japan totaled 673 tons, flattening at 2021 figures. The total export volume increased at an average annual rate of +6.0% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 24% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, exports of iron and non-alloy steel in ingots plummeted to $662K in 2022. In general, exports, however, continue to indicate a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 73% against the previous year. As a result, the exports reached the peak of $1.2M, and then dropped markedly in the following year.

Top Export Markets for Iron and Non-Alloy Steel in Ingot from Japan in 2022:

1. Taiwan (Chinese) (154.6 tons)
2. Vietnam (57.2 tons)
3. China (27.2 tons)
4. Philippines (22.5 tons)
5. South Korea (22.1 tons)
6. Belgium (18.9 tons)
7. Thailand (4.7 tons)

Source: IndexBox Market Intelligence Platform