Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy - 2023
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy (FOB) - 2023
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy (FOB) - 2023
In October 2023, the average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $1,246 per ton, waning by -14% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 36% m-o-m. Over the period under review, the average export prices reached the peak figure at $1,509 per ton in February 2023; however, from March 2023 to October 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In October 2023, the country with the highest price was Tunisia ($4,123 per ton), while the average price for exports to Brazil ($915 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Tunisia (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy (CIF) - 2022
The average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $1,319 per ton in 2022, surging by 15% against the previous year. Overall, 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 +57.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 178% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.
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 ($2,632 per ton), while the price for Austria ($1,064 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 (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy
In 2022, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s from Italy shrank sharply to 19K tons, declining by -15.5% compared with the previous year's figure. Over the period under review, exports saw a mild reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. As a result, the exports attained the peak of 23K tons, and then fell dramatically in the following year.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s shrank to $22M in 2022. In general, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +10.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 56%. As a result, the exports attained the peak of $23M, and then fell in the following year.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 10.4 | 10.6 | 17.2 | 17.2 | 18.3% |
| Brazil | N/A | N/A | 0.4 | 1.0 | 150.0% |
| Tunisia | 0.8 | 0.6 | 0.6 | 1.0 | 7.7% |
| Turkey | N/A | N/A | N/A | 0.8 | 0% |
| France | 1.6 | 0.8 | 0.9 | 0.7 | -24.1% |
| Czech Republic | 0.6 | 0.2 | 0.3 | 0.4 | -12.6% |
| Romania | 1.0 | 1.0 | 1.5 | 0.3 | -33.1% |
| India | 0.2 | 0.3 | 0.6 | 0.3 | 14.5% |
| China | 0.5 | N/A | N/A | N/A | 0% |
| Others | 1.3 | 1.0 | 1.0 | 0.3 | -38.7% |
| Total | 16.4 | 14.5 | 22.6 | 22.1 | 10.5% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from Italy in 2022:
- Spain (15.3K tons)
- Brazil (0.8K tons)
- Turkey (0.8K tons)
- France (0.5K tons)
- Tunisia (0.4K tons)
- Romania (0.3K tons)
- Czech Republic (0.3K tons)
- India (0.3K tons)
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy
In 2022, the amount of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s imported into Italy soared to 4.2K tons, growing by 62% against the previous year. Overall, imports, however, continue to indicate a slight decrease.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s soared to $5.6M in 2022. In general, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 1,841 | 1,158 | 987 | 1,930 | 1.6% |
| Germany | 18.9 | N/A | 0.1 | 1,574 | 336.7% |
| United States | 12.7 | 10.6 | N/A | 1,019 | 331.3% |
| Luxembourg | 509 | 402 | 317 | 603 | 5.8% |
| Austria | 751 | 147 | 104 | 132 | -44.0% |
| France | N/A | N/A | 1,487 | 129 | -91.3% |
| Croatia | 342 | N/A | N/A | N/A | 0% |
| Others | 250 | 76.5 | 86.2 | 173 | -11.5% |
| Total | 3,724 | 1,794 | 2,981 | 5,561 | 14.3% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to Italy in 2022:
- Poland (1596.4 tons)
- Germany (1462.0 tons)
- Luxembourg (518.4 tons)
- United States (387.3 tons)
- Austria (124.4 tons)
- France (79.2 tons)
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