Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Sri Lanka - 2022
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Sri Lanka (CIF) - 2022
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Sri Lanka
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Sri Lanka (CIF) - 2022
In 2021, the average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $3,455 per ton, which is down by -6% against the previous year. Over the period under review, the import price, however, showed significant growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by 168%. The import price peaked at $3,918 per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Australia ($8,526 per ton), while the price for the United Arab Emirates ($563 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Sri Lanka
In 2022, overseas purchases of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s decreased by 99.9% to less than 0.1 kg for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by 5.9% against the previous year.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s shrank sharply to $146 in 2022. Over the period under review, imports recorded a sharp curtailment. The smallest decline of -0.5% was in 2021.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Australia | 4.9 | 5.6 | 5.8 | 8.8% | |
| Japan | 1.3 | 1.1 | 1.6 | 10.9% | |
| United Arab Emirates | 1.8 | 1.4 | 0.6 | -42.3% | |
| India | 0.5 | 0.5 | 0.4 | -10.6% | |
| Others | N/A | N/A | N/A | 0% | |
| Total | 8.6 | 8.6 | 8.5 | -0.6% | |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to Sri Lanka in 2022:
- United Arab Emirates (1035.0 kg)
- Australia (684.0 kg)
- India (431.0 kg)
- Japan (312.0 kg)
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