Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Oman - 2022

Contents:

1. Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Oman (CIF) - 2022
2. Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Oman (FOB) - 2022
3. Imports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Oman
4. Exports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Oman

Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Oman (CIF) - 2022

In 2022, the average import price for stainless steel; flat-rolled products of width less than 600mms amounted to $5,712 per ton, increasing by 38% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for stainless steel; flat-rolled products of width less than 600mms increased by +65.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 53% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady 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 the United States ($24,318 per ton), while the price for Malaysia ($3,032 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Oman (FOB) - 2022

In 2022, the average export price for stainless steel; flat-rolled products of width less than 600mms amounted to $1,496 per ton, with a decrease of -24.6% against the previous year. In general, the export price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2021 when the average export price increased by 94%. Over the period under review, the average export prices attained the maximum at $4,190 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($4,602 per ton), while the average price for exports to India ($923 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 Qatar (+5.9%), while the prices for the other major destinations experienced a decline.

Imports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Oman

Imports of stainless steel; flat-rolled products of width less than 600mms into Oman dropped to 310 tons in 2022, waning by -13.2% compared with the previous year's figure. In general, total imports indicated a mild increase from 2019 to 2022: its volume increased at an average annual rate of +1.6% 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 +35.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 56%. As a result, imports reached the peak of 357 tons, and then reduced in the following year.

In value terms, imports of stainless steel; flat-rolled products of width less than 600mms surged to $1.8M in 2022. Overall, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 87% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Stainless Steel; Flat-Rolled Products of Width Less than 600mm to Oman in 2022:

1. United Arab Emirates (127.9 tons)
2. Malaysia (97.7 tons)
3. India (28.0 tons)
4. China (15.0 tons)
5. United States (8.4 tons)
6. Qatar (5.7 tons)
7. Netherlands (5.6 tons)
8. Australia (3.9 tons)
9. Taiwan (Chinese) (3.4 tons)

Exports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Oman

In 2022, shipments abroad of stainless steel; flat-rolled products of width less than 600mms decreased by -91.4% to 959 kg, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a precipitous slump. The growth pace was the most rapid in 2020 when exports increased by 51% against the previous year. As a result, the exports reached the peak of 13 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of stainless steel; flat-rolled products of width less than 600mms contracted remarkably to $1.4K in 2022. Over the period under review, exports faced a dramatic shrinkage. The growth pace was the most rapid in 2021 when exports increased by 72% against the previous year. As a result, the exports attained the peak of $22K, and then fell remarkably in the following year.

Top Export Markets for Stainless Steel; Flat-Rolled Products of Width Less than 600mm from Oman in 2022:

1. Qatar (457.0 kg)
2. India (389.0 kg)
3. United Arab Emirates (108.0 kg)

Source: IndexBox Market Intelligence Platform