Price for Iron and Non-Alloy Steel in Ingot in Turkey - 2023
Contents:
- Price for Iron and Non-Alloy Steel in Ingot in Turkey (CIF) - 2023
- Price for Iron and Non-Alloy Steel in Ingot in Turkey (FOB) - 2022
- Imports of Iron and Non-Alloy Steel in Ingot in Turkey
- Exports of Iron and Non-Alloy Steel in Ingot in Turkey
Price for Iron and Non-Alloy Steel in Ingot in Turkey (CIF) - 2023
In November 2023, the average import price for iron and non-alloy steel in ingots amounted to $784 per ton, picking up by 5.7% against the previous month. In general, the import price, however, saw a noticeable shrinkage. The growth pace was the most rapid in June 2023 an increase of 41% month-to-month. Over the period under review, average import prices hit record highs at $1,393 per ton in December 2022; however, from January 2023 to November 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Spain ($1,585 per ton), while the price for Pakistan ($460 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by China (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Iron and Non-Alloy Steel in Ingot in Turkey (FOB) - 2022
In 2022, the average export price for iron and non-alloy steel in ingots amounted to $8,401 per ton, increasing by 31% against the previous year. Overall, the export price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 957% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($5,043 per ton), while the average price for exports to Tajikistan ($700 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 Spain (+86.6%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Iron and Non-Alloy Steel in Ingot in Turkey
In 2022, after three years of growth, there was decline in overseas purchases of iron and non-alloy steel in ingots, when their volume decreased by -1.9% to 1.9K tons. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 67%. As a result, imports reached the peak of 1.9K tons, and then reduced slightly in the following year.
In value terms, imports of iron and non-alloy steel in ingots soared to $5.9M in 2022. In general, imports, however, showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Iron and Non-Alloy Steel in Ingot in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Iran | N/A | 44.0 | N/A | 2,950 | 718.8% |
| China | 319 | 309 | 1,024 | 1,208 | 55.9% |
| Italy | N/A | N/A | 69.7 | 856 | 1128.1% |
| Spain | 348 | 133 | 344 | 678 | 24.9% |
| Germany | 148 | 437 | 441 | 201 | 10.7% |
| Others | 10.4 | 5.9 | 73.5 | 6.7 | -13.6% |
| Total | 826 | 929 | 1,952 | 5,900 | 92.6% |
Top Suppliers of Iron and Non-Alloy Steel in Ingot to Turkey in 2022:
- Iran (4.5K tons)
- China (1.0K tons)
- Spain (0.4K tons)
- Italy (0.3K tons)
- Germany (0.1K tons)
Exports of Iron and Non-Alloy Steel in Ingot in Turkey
In 2022, overseas shipments of iron and non-alloy steel in ingots decreased by -16.6% to 23 tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a dramatic decline. The pace of growth appeared the most rapid in 2020 when exports increased by 69% against the previous year. As a result, the exports attained the peak of 1.2K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of iron and non-alloy steel in ingots reached $191K in 2022. Overall, exports faced a dramatic shrinkage.
| Export of Iron and Non-Alloy Steel in Ingot in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | N/A | N/A | N/A | 83.0 | 0% |
| Iran | 0.6 | N/A | 66.9 | 79.4 | 409.6% |
| Germany | 224 | 293 | N/A | 17.2 | -57.5% |
| Tajikistan | N/A | N/A | N/A | 1.5 | 0% |
| Russia | 79.6 | N/A | 32.8 | 0.7 | -79.4% |
| India | 124 | 435 | N/A | N/A | 250.8% |
| Georgia | 284 | 1.2 | N/A | N/A | -99.6% |
| Others | 45.9 | 12.1 | 75.6 | 9.3 | -41.3% |
| Total | 758 | 742 | 175 | 191 | -36.8% |
Top Export Markets for Iron and Non-Alloy Steel in Ingot from Turkey in 2022:
- Italy (79.7 tons)
- Iran (19.4 tons)
- Germany (8.8 tons)
- Tajikistan (2.2 tons)
- Russia (0.1 tons)
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