Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in India - 2023
Contents:
- Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in India (FOB) - 2023
- Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in India (CIF) - 2023
- Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in India
- Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in India
Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in India (FOB) - 2023
The average export price for stainless steel bars and rods, angles, shapes and sectionses stood at $2,934 per ton in October 2023, stabilizing at the previous month. Over the period under review, the export price, however, saw a slight decline. The pace of growth appeared the most rapid in May 2023 when the average export price increased by 1.2% m-o-m. Over the period under review, the average export prices attained the peak figure at $3,455 per ton in December 2022; however, from January 2023 to October 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In October 2023, the country with the highest price was the United States ($4,550 per ton), while the average price for exports to Brazil ($2,242 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+0.3%), while the prices for the other major destinations experienced a decline.
Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in India (CIF) - 2023
The average import price for stainless steel bars and rods, angles, shapes and sectionses stood at $9,336 per ton in October 2023, surging by 12% against the previous month. Over the last eleven-month period, it increased at an average monthly rate of +1.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($23,490 per ton), while the price for Belgium ($2,712 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Slovenia (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in India
In 2022, the amount of stainless steel bars and rods, angles, shapes and sectionses exported from India fell to 302K tons, waning by -11.5% on the year before. Over the period under review, exports saw a pronounced slump. The growth pace was the most rapid in 2021 when exports increased by 24% against the previous year. As a result, the exports reached the peak of 342K tons, and then contracted in the following year.
In value terms, exports of stainless steel bars and rods, angles, shapes and sectionses rose notably to $1.1B in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +9.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 61%. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in years to come.
| Export of Stainless Steel Bars and Rods, Angles, Shapes and Sections in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 80.1 | 44.4 | 94.7 | 111 | 11.5% |
| Turkey | 66.9 | 65.6 | 108 | 110 | 18.0% |
| Germany | 114 | 54.4 | 119 | 109 | -1.5% |
| Belgium | 47.6 | 32.7 | 66.6 | 97.0 | 26.8% |
| Netherlands | 48.2 | 51.7 | 65.6 | 89.4 | 22.9% |
| United States | 39.9 | 42.4 | 65.8 | 75.2 | 23.5% |
| South Korea | 51.1 | 41.9 | 50.0 | 54.9 | 2.4% |
| Poland | 43.3 | 22.3 | 59.7 | 52.5 | 6.6% |
| Mexico | 20.8 | 21.6 | 33.1 | 33.6 | 17.3% |
| United Arab Emirates | 13.5 | 11.0 | 10.3 | 29.7 | 30.1% |
| Brazil | 29.0 | 24.7 | 24.8 | 28.0 | -1.2% |
| Russia | 17.4 | 21.8 | 28.7 | 24.7 | 12.4% |
| Malaysia | 13.9 | 15.5 | 26.0 | 24.3 | 20.5% |
| Others | 247 | 180 | 262 | 265 | 2.4% |
| Total | 832 | 630 | 1,013 | 1,105 | 9.9% |
Top Export Markets for Stainless Steel Bars and Rods, Angles, Shapes and Sections from India in 2022:
- Turkey (33.7K tons)
- Italy (29.8K tons)
- Germany (28.4K tons)
- Belgium (24.9K tons)
- Netherlands (23.9K tons)
- United States (15.7K tons)
- South Korea (15.4K tons)
- Poland (14.7K tons)
- Brazil (9.3K tons)
- Mexico (9.3K tons)
- United Arab Emirates (8.4K tons)
- Malaysia (8.0K tons)
- Russia (7.9K tons)
Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in India
In 2022, overseas purchases of stainless steel bars and rods, angles, shapes and sectionses were finally on the rise to reach 15K tons after two years of decline. Over the period under review, imports, however, saw a abrupt downturn.
In value terms, imports of stainless steel bars and rods, angles, shapes and sectionses surged to $95M in 2022. In general, total imports indicated a slight expansion from 2019 to 2022: its value increased at an average annual rate of +1.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.4% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Stainless Steel Bars and Rods, Angles, Shapes and Sections in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 13.3 | 11.3 | 14.9 | 15.9 | 6.1% |
| Taiwan (Chinese) | 6.5 | 7.2 | 7.8 | 14.2 | 29.8% |
| United States | 10.5 | 6.7 | 6.3 | 12.3 | 5.4% |
| Italy | 8.1 | 4.0 | 7.1 | 8.3 | 0.8% |
| China | 3.4 | 1.1 | 4.1 | 6.6 | 24.7% |
| Germany | 8.8 | 4.0 | 3.8 | 5.8 | -13.0% |
| Belgium | 1.4 | 0.6 | 0.3 | 5.1 | 53.9% |
| Sweden | 3.3 | 4.6 | 3.8 | 5.0 | 14.9% |
| United Kingdom | 6.1 | 3.9 | 3.1 | 4.6 | -9.0% |
| Netherlands | 2.9 | 4.4 | 4.7 | 3.4 | 5.4% |
| Slovenia | 7.0 | 1.7 | 1.0 | 1.9 | -35.3% |
| France | 3.7 | 1.9 | 1.9 | 1.2 | -31.3% |
| South Korea | 1.6 | 0.3 | 0.4 | 0.5 | -32.1% |
| Others | 13.8 | 8.8 | 9.3 | 10.7 | -8.1% |
| Total | 90.4 | 60.5 | 68.5 | 95.3 | 1.8% |
Top Suppliers of Stainless Steel Bars and Rods, Angles, Shapes and Sections to India in 2022:
- Taiwan (Chinese) (3.2K tons)
- Japan (1.9K tons)
- United States (1.5K tons)
- China (1.2K tons)
- Italy (1.1K tons)
- Belgium (1.1K tons)
- Germany (1.0K tons)
- Sweden (0.8K tons)
- Netherlands (0.7K tons)
- United Kingdom (0.4K tons)
- Slovenia (0.4K tons)
- France (0.1K tons)
- South Korea (0.1K tons)
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