Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India - 2023
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India (CIF) - 2022
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India (FOB) - 2022
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India (CIF) - 2022
In 2022, the average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $1,041 per ton, increasing by 37% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s increased by +66.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 43%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($1,068 per ton), while the price for Turkey ($901 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+11.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India (FOB) - 2022
In 2022, the average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $745 per ton, dropping by -2% against the previous year. Over the period under review, the export price saw a perceptible setback. The growth pace was the most rapid in 2018 when the average export price increased by 144% against the previous year. The export price peaked at $1,692 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($3,932 per ton), while the average price for exports to Bangladesh ($326 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 the United States (+5.8%), while the prices for the other major destinations experienced a decline.
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India
In 2022, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s into India shrank modestly to 11K tons, falling by -1.7% against the previous year's figure. Overall, imports saw a sharp downturn.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s surged to $11M in 2022. In general, imports continue to indicate a deep contraction.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.2 | 5.2 | 0.5 | 6.3 | 14.5% |
| Italy | 12.4 | 5.9 | 7.4 | 3.7 | -33.2% |
| Turkey | 0.2 | 0.8 | 0.1 | 0.7 | 51.8% |
| Others | 0.3 | N/A | 0.2 | 0.3 | 0.0% |
| Total | 17.1 | 11.9 | 8.2 | 10.9 | -13.9% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to India in 2022:
- China (5.9K tons)
- Italy (3.6K tons)
- Turkey (0.7K tons)
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India
In 2022, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s from India surged to 5.1K tons, with an increase of 353% on the year before. Over the period under review, exports saw significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 2,921% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s soared to $3.8M in 2022. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 1,697% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the near future.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nepal | 11.2 | 4.4 | 536 | 3,015 | 545.7% |
| United States | 58.1 | 6.4 | 189 | 315 | 75.7% |
| Bangladesh | 1.1 | N/A | 0.1 | 34.3 | 214.8% |
| Bhutan | 8.7 | 8.7 | 0.2 | 11.8 | 10.7% |
| Others | 46.0 | 28.0 | 127 | 407 | 106.8% |
| Total | 125 | 47.5 | 853 | 3,784 | 211.7% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from India in 2022:
- Nepal (4.7K tons)
- United States (0.1K tons)
- Bangladesh (0.1K tons)
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