Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the United Arab Emirates - 2022
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the United Arab Emirates (FOB) - 2022
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the United Arab Emirates (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the United Arab Emirates
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the United Arab Emirates
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the United Arab Emirates (FOB) - 2022
The average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $1,747 per ton in 2022, picking up by 147% against the previous year. Over the period under review, the export price saw a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tanzania ($4,667 per ton), while the average price for exports to Turkmenistan ($800 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 Kenya (+40.0%), 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 the United Arab Emirates (CIF) - 2022
In 2022, the average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $1,106 per ton, rising by 90% against the previous year. Overall, the import price posted a pronounced increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
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 Egypt ($4,494 per ton), while the price for Canada ($359 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.5%), 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 the United Arab Emirates
For the third year in a row, the United Arab Emirates recorded decline in overseas shipments of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s, which decreased by -84.6% to 518 tons in 2022. In general, exports continue to indicate a precipitous descent. The smallest decline of -30.6% was in 2020.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s shrank rapidly to $905K in 2022. Over the period under review, exports faced a precipitous slump. The smallest decline of -25.6% was in 2020.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the United Arab Emirates (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 408 | 106 | 428 | 330 | -6.8% |
| Bahrain | N/A | N/A | 40.5 | 198 | 388.9% |
| Iraq | N/A | N/A | N/A | 141 | 0% |
| Turkmenistan | N/A | N/A | N/A | 66.8 | 0% |
| Kenya | N/A | N/A | N/A | 51.1 | 0% |
| Oman | 2,607 | 22.6 | 136 | 33.8 | -76.5% |
| Pakistan | N/A | N/A | N/A | 14.5 | 0% |
| China | N/A | 3,324 | 1,262 | 2.4 | -97.3% |
| France | 321 | 25.7 | 4.8 | N/A | -87.8% |
| Iran | 2,426 | 815 | 237 | N/A | -68.7% |
| Others | 20.7 | 7.4 | 273 | 67.8 | 48.5% |
| Total | 5,782 | 4,302 | 2,381 | 905 | -46.1% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from the United Arab Emirates in 2022:
- Saudi Arabia (165.5 tons)
- Bahrain (128.0 tons)
- Turkmenistan (83.5 tons)
- Iraq (49.4 tons)
- Oman (33.9 tons)
- Kenya (22.3 tons)
- Pakistan (8.1 tons)
- China (4.3 tons)
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the United Arab Emirates
In 2022, purchases abroad of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s decreased by -99.9% to 175 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports faced a dramatic decline. The most prominent rate of growth was recorded in 2021 when imports increased by 148%. As a result, imports reached the peak of 236K tons, and then contracted significantly in the following year.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s dropped sharply to $194K in 2022. In general, imports faced a significant decline. The most prominent rate of growth was recorded in 2021 with an increase of 219%. As a result, imports reached the peak of $137M, and then declined rapidly in the following year.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in the United Arab Emirates (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | N/A | N/A | 0.1 | 0% |
| India | N/A | N/A | N/A | N/A | 0% |
| Egypt | N/A | N/A | N/A | N/A | 0% |
| South Africa | N/A | N/A | N/A | N/A | 0% |
| Iran | 19.9 | 42.9 | 135 | N/A | 160.5% |
| Netherlands | N/A | N/A | N/A | N/A | 0% |
| Canada | N/A | N/A | N/A | N/A | 0% |
| Bahrain | 9.6 | N/A | 2.1 | N/A | -53.2% |
| Others | 0.5 | N/A | 0.1 | N/A | -55.3% |
| Total | 30.0 | 43.0 | 137 | 0.2 | -81.2% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to the United Arab Emirates in 2022:
- China (99.5 tons)
- Canada (25.2 tons)
- South Africa (21.0 tons)
- India (11.0 tons)
- Egypt (9.5 tons)
- Netherlands (7.1 tons)
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