Price for Iron or Steel; Cast Articles in Vietnam - 2021

Price for Iron or Steel; Cast Articles in Vietnam (FOB) - 2021

In December 2021, the average export price for iron or steel; cast articleses amounted to $2,721 per ton, falling by -7% against the previous month. In general, the export price saw a slight decrease. The growth pace was the most rapid in June 2021 an increase of 8.9% m-o-m. Over the period under review, the average export prices reached the peak figure at $3,220 per ton in December 2020; however, from January 2021 to December 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($3,646 per ton), while the average price for exports to Thailand ($2,122 per ton) was amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Iron or Steel; Cast Articles in Vietnam (CIF) - 2021

In December 2021, the average import price for iron or steel; cast articleses amounted to $2,738 per ton, dropping by -2% against the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2021 an increase of 18% month-to-month. Over the period under review, average import prices attained the maximum at $3,017 per ton in December 2020; however, from January 2021 to December 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was India ($3,399 per ton), while the price for Thailand ($1,399 per ton) was amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by India (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Iron or Steel; Cast Articles in Vietnam

In 2022, after three years of growth, there was significant decline in overseas shipments of iron or steel; cast articleses, when their volume decreased by -5.8% to 32K tons. The total export volume increased at an average annual rate of +4.5% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 13%. As a result, the exports attained the peak of 34K tons, and then contracted in the following year.

In value terms, iron or steel; cast articles exports reduced to $46M in 2022. The total export value increased at an average annual rate of +6.5% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 29%. As a result, the exports reached the peak of $52M, and then shrank in the following year.

Export of Iron or Steel; Cast Articles in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	16.0	15.7	16.5	7.0	-24.1%
South Korea	3.5	2.9	4.3	5.7	17.7%
Thailand	2.9	2.4	4.1	5.5	23.8%
United States	0.7	0.9	1.1	2.8	58.7%
Germany	1.5	1.6	1.3	2.3	15.3%
Taiwan (Chinese)	1.0	1.2	1.1	1.4	11.9%
Italy	0.7	1.1	1.1	1.3	22.9%
China	0.3	0.3	0.7	0.9	44.2%
Spain	0.6	0.7	0.5	0.8	10.1%
Mexico	0.2	0.5	0.5	0.6	44.2%
Lao People's Democratic Republic	0.4	0.4	0.2	0.4	0.0%
Portugal	0.2	0.2	0.2	0.4	26.0%
Others	10.2	12.4	20.4	16.8	18.1%
Total	38.0	40.1	51.7	45.9	6.5%

Top Export Markets for Iron or Steel; Cast Articles from Vietnam in 2022:

Japan (4.5K tons)
Thailand (3.5K tons)
South Korea (3.0K tons)
Germany (2.4K tons)
United States (1.2K tons)
Italy (1.1K tons)
Taiwan (Chinese) (0.7K tons)
China (0.5K tons)
Lao People's Democratic Republic (0.4K tons)
Portugal (0.4K tons)
Mexico (0.4K tons)
Spain (0.4K tons)

Imports of Iron or Steel; Cast Articles in Vietnam

In 2022, the amount of iron or steel; cast articleses imported into Vietnam reduced to 16K tons, dropping by -12.5% against the previous year. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. As a result, imports reached the peak of 19K tons, and then contracted in the following year.

In value terms, iron or steel; cast articles imports dropped to $44M in 2022. The total import value increased at an average annual rate of +5.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 35%. As a result, imports attained the peak of $51M, and then dropped in the following year.

Import of Iron or Steel; Cast Articles in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	17.7	18.4	27.5	25.7	13.2%
South Korea	6.5	3.8	6.8	6.4	-0.5%
Taiwan (Chinese)	2.2	3.3	5.6	5.2	33.2%
Chile	2.2	2.0	0.3	1.4	-14.0%
Japan	4.0	4.1	5.7	1.4	-29.5%
India	1.0	1.4	1.4	1.3	9.1%
United States	2.2	2.6	1.1	0.5	-39.0%
Others	2.1	2.0	2.4	2.2	1.6%
Total	38.0	37.6	50.7	44.2	5.2%