Price for Iron and Non-Alloy Steel in Ingot in Pakistan - 2023
Contents:
- Price for Iron and Non-Alloy Steel in Ingot in Pakistan (CIF) - 2022
- Price for Iron and Non-Alloy Steel in Ingot in Pakistan (FOB) - 2022
- Imports of Iron and Non-Alloy Steel in Ingot in Pakistan
- Exports of Iron and Non-Alloy Steel in Ingot in Pakistan
Price for Iron and Non-Alloy Steel in Ingot in Pakistan (CIF) - 2022
In 2022, the average import price for iron and non-alloy steel in ingots amounted to $561 per ton, rising by 16% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 35%. The import price peaked at $712 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to +31.9% per year.
Price for Iron and Non-Alloy Steel in Ingot in Pakistan (FOB) - 2022
In 2022, the average export price for iron and non-alloy steel in ingots amounted to $1.1 per ton, reducing by -99.2% against the previous year. Overall, the export price showed a sharp reduction. The pace of growth was the most pronounced in 2016 when the average export price increased by 19%. Over the period under review, the average export prices attained the maximum at $852 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Italy.
From 2012 to 2022, the rate of growth in terms of prices for Afghanistan amounted to -11.5% per year.
Imports of Iron and Non-Alloy Steel in Ingot in Pakistan
For the third year in a row, Pakistan recorded decline in supplies from abroad of iron and non-alloy steel in ingots, which decreased by -15.6% to 46 tons in 2022. In general, imports faced a abrupt descent. The smallest decline of -5.4% was in 2020.
In value terms, imports of iron and non-alloy steel in ingots contracted slightly to $26K in 2022. Over the period under review, imports continue to indicate a perceptible slump. The growth pace was the most rapid in 2020 with an increase of 28%. As a result, imports attained the peak of $36K. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Iron and Non-Alloy Steel in Ingot in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.2 | N/A | N/A | 23.3 | 388.4% |
| Kuwait | 11.0 | 17.9 | 18.1 | N/A | 28.3% |
| South Africa | 0.9 | 0.8 | 0.2 | N/A | -52.9% |
| Iran | 14.4 | 14.5 | 4.6 | N/A | -43.5% |
| Others | 1.5 | 2.6 | 3.4 | 2.6 | 20.1% |
| Total | 27.9 | 35.7 | 26.3 | 25.9 | -2.4% |
Top Suppliers of Iron and Non-Alloy Steel in Ingot to Pakistan in 2022:
- China (35.0 tons)
Exports of Iron and Non-Alloy Steel in Ingot in Pakistan
In 2022, exports of iron and non-alloy steel in ingots from Pakistan surged to 4K tons, picking up by 1,383% on 2021 figures. In general, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of iron and non-alloy steel in ingots contracted rapidly to $4.5K in 2022. Overall, exports, however, saw a dramatic shrinkage. The smallest decline of -27.4% was in 2021.
| Export of Iron and Non-Alloy Steel in Ingot in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | N/A | N/A | N/A | 2.0 | 0% |
| Switzerland | N/A | 1.4 | N/A | N/A | 0% |
| United Kingdom | 8.9 | 6.4 | 2.3 | N/A | -49.2% |
| Afghanistan | 467 | 35.3 | 29.3 | N/A | -75.0% |
| Others | 5.2 | 8.8 | 6.1 | 2.5 | -21.7% |
| Total | 482 | 52.0 | 37.8 | 4.5 | -78.9% |
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