Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore - 2023
Contents:
- Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore (CIF) - 2023
- Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore (FOB) - 2022
- Imports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore
- Exports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore
Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore (CIF) - 2023
In September 2022, the average import price for stainless steel; flat-rolled products of width less than 600mms amounted to $6,282 per ton, which is down by -25.2% against the previous month. Overall, the import price recorded a perceptible reduction. The pace of growth was the most pronounced in August 2022 an increase of 27% month-to-month. As a result, import price attained the peak level of $8,401 per ton, and then shrank notably in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Sweden ($16,063 per ton), while the price for Germany ($2,792 per ton) was amongst the lowest.
From June 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Japan (+15.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore (FOB) - 2022
The average export price for stainless steel; flat-rolled products of width less than 600mms stood at $6,695 per ton in 2022, rising by 27% against the previous year. Overall, the export price enjoyed a strong increase. The growth pace was the most rapid in 2016 when the average export price increased by 83% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($24,499 per ton), while the average price for exports to India ($1,711 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 Thailand (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore
In 2022, after three years of growth, there was significant decline in purchases abroad of stainless steel; flat-rolled products of width less than 600mms, when their volume decreased by -23.6% to 10K tons. Over the period under review, total imports indicated noticeable growth from 2019 to 2022: its volume increased at an average annual rate of +4.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +14.8% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 40%. As a result, imports attained the peak of 14K tons, and then fell dramatically in the following year.
In value terms, imports of stainless steel; flat-rolled products of width less than 600mms dropped to $53M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +10.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +39.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 52% against the previous year. As a result, imports reached the peak of $57M, and then reduced in the following year.
| Import of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 14.1 | 14.8 | 19.3 | 14.4 | 0.7% |
| China | 3.6 | 3.7 | 7.5 | 10.5 | 42.9% |
| Malaysia | 6.1 | 6.2 | 6.8 | 7.6 | 7.6% |
| Taiwan (Chinese) | 3.1 | 1.3 | 5.9 | 4.8 | 15.7% |
| South Korea | 4.8 | 4.0 | 6.6 | 4.7 | -0.7% |
| Sweden | 4.6 | 3.4 | 3.1 | 4.1 | -3.8% |
| Germany | 0.2 | 0.4 | 0.9 | 0.8 | 58.7% |
| Australia | N/A | 0.9 | 2.5 | 0.4 | -33.3% |
| Others | 2.7 | 3.0 | 4.5 | 5.2 | 24.4% |
| Total | 39.1 | 37.7 | 57.2 | 52.6 | 10.4% |
Top Suppliers of Stainless Steel; Flat-Rolled Products of Width Less than 600mm to Singapore in 2022:
- China (3.1K tons)
- Japan (2.4K tons)
- Malaysia (1.5K tons)
- Taiwan (Chinese) (1.2K tons)
- South Korea (0.9K tons)
- Sweden (0.5K tons)
- Germany (0.2K tons)
Exports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore
In 2022, the amount of stainless steel; flat-rolled products of width less than 600mms exported from Singapore dropped dramatically to 6.3K tons, waning by -25% against the previous year's figure. Overall, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. As a result, the exports reached the peak of 8.4K tons, and then fell sharply in the following year.
In value terms, exports of stainless steel; flat-rolled products of width less than 600mms declined slightly to $42M in 2022. In general, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +14.5% 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 +50.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 44% against the previous year. As a result, the exports attained the peak of $44M, and then reduced slightly in the following year.
| Export of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 12.8 | 13.6 | 19.8 | 12.9 | 0.3% |
| Malaysia | 8.3 | 7.8 | 10.9 | 11.1 | 10.2% |
| Thailand | 2.3 | 4.6 | 9.0 | 6.8 | 43.5% |
| Japan | 0.2 | 0.1 | 0.6 | 6.4 | 217.5% |
| Vietnam | 1.0 | 0.8 | 0.9 | 1.0 | 0.0% |
| India | 1.1 | 1.3 | 0.1 | 0.4 | -28.6% |
| South Korea | 0.3 | 0.3 | 0.5 | 0.1 | -30.7% |
| Others | 2.4 | 2.3 | 2.6 | 3.6 | 14.5% |
| Total | 28.2 | 30.8 | 44.4 | 42.4 | 14.6% |
Top Export Markets for Stainless Steel; Flat-Rolled Products of Width Less than 600mm from Singapore in 2022:
- Indonesia (2686.3 tons)
- Malaysia (2088.5 tons)
- Japan (487.7 tons)
- Thailand (295.6 tons)
- India (219.0 tons)
- Vietnam (191.0 tons)
- South Korea (74.0 tons)
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