Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India - 2023
Contents:
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India (FOB) - 2023
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India (CIF) - 2023
- Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India
- Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India (FOB) - 2023
The average export price for iron or non-alloy steel wire, plated or coated with zincs stood at $1,044 per ton in November 2023, with an increase of 8.4% against the previous month. Over the period under review, the export price, however, recorded a slight curtailment. The pace of growth was the most pronounced in February 2023 an increase of 8.7% month-to-month. The export price peaked at $1,224 per ton in November 2022; however, from December 2022 to November 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Canada ($1,798 per ton), while the average price for exports to Nepal ($725 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-0.3%), while the prices for the other major destinations experienced a decline.
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India (CIF) - 2023
In November 2023, the average import price for iron or non-alloy steel wire, plated or coated with zincs amounted to $1,011 per ton, picking up by 27% against the previous month. Over the period under review, the import price, however, showed a mild curtailment. The pace of growth was the most pronounced in January 2023 an increase of 30% against the previous month. Over the period under review, average import prices hit record highs at $1,202 per ton in November 2022; however, from December 2022 to November 2023, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In November 2023, the highest price was recorded for prices from Thailand ($1,149 per ton) and Indonesia ($1,142 per ton), while the price for Nepal ($823 per ton) and the United Arab Emirates ($910 per ton) were amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Qatar (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India
In 2022, after three years of growth, there was significant decline in overseas shipments of iron or non-alloy steel wire, plated or coated with zincs, when their volume decreased by -42.7% to 23K tons. Overall, exports, however, enjoyed a temperate expansion. The pace of growth was the most pronounced in 2021 with an increase of 74%. As a result, the exports attained the peak of 41K tons, and then shrank remarkably in the following year.
In value terms, exports of iron or non-alloy steel wire, plated or coated with zincs dropped rapidly to $28M in 2022. In general, exports, however, posted buoyant growth. The growth pace was the most rapid in 2021 with an increase of 180%. As a result, the exports attained the peak of $53M, and then reduced rapidly in the following year.
| Export of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 4.3 | 3.1 | 8.9 | 5.5 | 8.6% |
| Sri Lanka | 1.5 | 5.1 | 9.2 | 3.5 | 32.6% |
| United Kingdom | 1.1 | 0.6 | 2.4 | 2.9 | 38.1% |
| Japan | N/A | N/A | 1.5 | 1.9 | 26.7% |
| Bhutan | 0.6 | 0.8 | 1.5 | 1.6 | 38.7% |
| Nepal | 0.2 | 0.6 | 0.7 | 1.5 | 95.7% |
| Brazil | N/A | N/A | 2.3 | 1.4 | -39.1% |
| Poland | N/A | N/A | 0.7 | 1.2 | 71.4% |
| Canada | N/A | N/A | 0.2 | 1.0 | 400.0% |
| Bangladesh | 9.8 | 6.8 | 2.8 | 0.9 | -54.9% |
| United States | N/A | 0.3 | 3.0 | 0.9 | 73.2% |
| Vietnam | N/A | N/A | 0.3 | 0.9 | 200.0% |
| Thailand | 0.4 | 0.1 | 0.5 | 0.5 | 7.7% |
| Others | 1.5 | 1.5 | 18.9 | 4.2 | 40.9% |
| Total | 19.4 | 19.0 | 53.0 | 27.9 | 12.9% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc from India in 2022:
- United Arab Emirates (4.1K tons)
- Sri Lanka (3.4K tons)
- Japan (2.1K tons)
- United Kingdom (1.8K tons)
- Nepal (1.7K tons)
- Bhutan (1.3K tons)
- Brazil (1.2K tons)
- Poland (0.9K tons)
- Vietnam (0.9K tons)
- Bangladesh (0.8K tons)
- United States (0.8K tons)
- Canada (0.6K tons)
- Thailand (0.6K tons)
Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India
In 2022, after two years of decline, there was significant growth in supplies from abroad of iron or non-alloy steel wire, plated or coated with zincs, when their volume increased by 15% to 18K tons. In general, imports, however, recorded a precipitous slump.
In value terms, imports of iron or non-alloy steel wire, plated or coated with zincs expanded to $18M in 2022. Over the period under review, imports, however, recorded a sharp reduction.
| Import of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 1.5 | 1.3 | 1.4 | 7.9 | 74.0% |
| Thailand | 1.5 | 1.7 | 2.5 | 2.9 | 24.6% |
| China | 4.7 | 3.4 | 3.5 | 2.5 | -19.0% |
| Nepal | 14.2 | 4.6 | 1.1 | 2.0 | -48.0% |
| Indonesia | 4.5 | 2.4 | 2.9 | 1.3 | -33.9% |
| Qatar | 1.9 | 0.4 | 1.4 | 1.2 | -14.2% |
| Oman | 0.5 | 0.5 | 0.1 | 0.4 | -7.2% |
| Malaysia | 10.1 | 5.1 | 4.4 | N/A | -34.0% |
| Others | 0.6 | 1.1 | 0.5 | 0.3 | -20.6% |
| Total | 39.5 | 20.5 | 17.9 | 18.5 | -22.3% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc to India in 2022:
- United Arab Emirates (10.0K tons)
- Nepal (2.2K tons)
- Thailand (1.8K tons)
- China (1.6K tons)
- Qatar (1.1K tons)
- Indonesia (0.9K tons)
- Oman (0.4K tons)
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This report provides an in-depth analysis of the market for iron and steel wire in India.
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