Price for Iron or Steel; Cast Articles in India - 2023
Contents:
- Price for Iron or Steel; Cast Articles in India (FOB) - 2022
- Price for Iron or Steel; Cast Articles in India (CIF) - 2023
- Exports of Iron or Steel; Cast Articles in India
- Imports of Iron or Steel; Cast Articles in India
Price for Iron or Steel; Cast Articles in India (FOB) - 2022
The average export price for iron or steel; cast articleses stood at $1,893 per ton in 2022, dropping by -3.7% against the previous year. Over the period under review, the export price recorded a slight curtailment. The pace of growth appeared the most rapid in 2017 when the average export price increased by 10% against the previous year. The export price peaked at $2,465 per ton in 2020; however, from 2021 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 ($2,299 per ton), while the average price for exports to Ghana ($1,096 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 South Africa (+1.3%), while the prices for the other major destinations experienced a decline.
Price for Iron or Steel; Cast Articles in India (CIF) - 2023
In June 2023, the average import price for iron or steel; cast articleses amounted to $3,599 per ton, approximately equating the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in March 2023 when the average import price increased by 35% against the previous month. The import price peaked at $3,757 per ton in January 2023; however, from February 2023 to June 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was the United States ($19,153 per ton), while the price for South Korea ($1,791 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Japan (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Steel; Cast Articles in India
In 2022, approx. 739K tons of iron or steel; cast articleses were exported from India; rising by 16% compared with the previous year's figure. Overall, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +14.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 54% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, iron or steel; cast articles exports rose remarkably to $1.4B in 2022. The total export value increased at an average annual rate of +7.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 23% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Iron or Steel; Cast Articles in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 297 | 257 | 303 | 470 | 16.5% |
| Australia | 40.4 | 38.5 | 46.8 | 98.5 | 34.6% |
| Italy | 52.0 | 61.9 | 63.5 | 98.3 | 23.6% |
| Canada | 56.9 | 61.3 | 35.0 | 80.2 | 12.1% |
| Germany | 122 | 96.1 | 104 | 67.6 | -17.9% |
| United Kingdom | 58.5 | 42.4 | 47.3 | 56.3 | -1.3% |
| Spain | 25.8 | 21.9 | 30.0 | 47.4 | 22.5% |
| United Arab Emirates | 36.0 | 29.2 | 27.7 | 43.4 | 6.4% |
| Ghana | 12.0 | 20.1 | 23.2 | 36.3 | 44.6% |
| Mexico | 22.7 | 23.3 | 26.4 | 32.6 | 12.8% |
| Qatar | 22.8 | 18.0 | 18.1 | 28.4 | 7.6% |
| Belgium | 22.8 | 20.6 | 17.9 | 19.2 | -5.6% |
| South Africa | 29.5 | 20.9 | 8.8 | 7.8 | -35.8% |
| Others | 319 | 302 | 496 | 312 | -0.7% |
| Total | 1,117 | 1,014 | 1,247 | 1,399 | 7.8% |
Top Export Markets for Iron or Steel; Cast Articles from India in 2022:
- United States (204.7K tons)
- Australia (67.5K tons)
- Canada (59.7K tons)
- Italy (44.1K tons)
- Germany (39.2K tons)
- United Arab Emirates (36.2K tons)
- Ghana (33.2K tons)
- United Kingdom (27.0K tons)
- Spain (25.8K tons)
- Mexico (25.0K tons)
- Qatar (21.6K tons)
- Belgium (14.0K tons)
- South Africa (5.3K tons)
Imports of Iron or Steel; Cast Articles in India
Iron or steel; cast articles imports into India expanded notably to 32K tons in 2022, with an increase of 5.4% against 2021 figures. Over the period under review, imports, however, continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2021 with an increase of 60% against the previous year.
In value terms, iron or steel; cast articles imports stood at $103M in 2022. Overall, imports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 33%.
| Import of Iron or Steel; Cast Articles in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 44.3 | 24.5 | 33.9 | 56.6 | 8.5% |
| South Korea | 18.5 | 4.8 | 7.7 | 16.4 | -3.9% |
| Italy | 18.0 | 20.0 | 23.6 | 5.5 | -32.6% |
| United States | 4.2 | 2.9 | 3.2 | 5.5 | 9.4% |
| Germany | 11.0 | 4.4 | 5.4 | 3.6 | -31.1% |
| Indonesia | 1.7 | 1.2 | 1.7 | 2.8 | 18.1% |
| Turkey | 1.4 | 3.3 | 2.2 | 2.0 | 12.6% |
| Others | 21.9 | 12.4 | 20.3 | 10.3 | -22.2% |
| Total | 121 | 73.4 | 98.0 | 103 | -5.2% |
Top Suppliers of Iron or Steel; Cast Articles to India in 2022:
- China (20.3K tons)
- South Korea (5.7K tons)
- United States (1.0K tons)
- Turkey (0.8K tons)
- Italy (0.8K tons)
- Indonesia (0.5K tons)
- Germany (0.4K tons)
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