Price for Stainless Steel in Ingots or Other Primary Forms in Azerbaijan - 2023
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in Azerbaijan (FOB) - 2022
- Price for Stainless Steel in Ingots or Other Primary Forms in Azerbaijan (CIF) - 2022
- Exports of Stainless Steel in Ingots or Other Primary Forms in Azerbaijan
- Imports of Stainless Steel in Ingots or Other Primary Forms in Azerbaijan
Price for Stainless Steel in Ingots or Other Primary Forms in Azerbaijan (FOB) - 2022
In 2022, the average export price for stainless steel in ingots or other primary forms amounted to $1,388 per ton, with a decrease of -8.1% against the previous year. Over the period under review, the export price, however, posted a prominent increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 107% against the previous year. The export price peaked at $1,511 per ton in 2021, and then fell in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Latvia ($2,580 per ton), while the average price for exports to Turkey ($963 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 the UK (+28.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Stainless Steel in Ingots or Other Primary Forms in Azerbaijan (CIF) - 2022
The average import price for stainless steel in ingots or other primary forms stood at $8,145 per ton in 2022, which is down by -60.4% against the previous year. In general, the import price saw a mild decrease. The most prominent rate of growth was recorded in 2015 when the average import price increased by 189% against the previous year. Over the period under review, average import prices hit record highs at $23,861 per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($12,890 per ton), while the price for China totaled $4,359 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Stainless Steel in Ingots or Other Primary Forms in Azerbaijan
In 2022, the amount of stainless steel in ingots or other primary forms exported from Azerbaijan reduced to 2.1K tons, which is down by -14.6% against the year before. Over the period under review, total exports indicated a notable increase from 2019 to 2022: its volume increased at an average annual rate of +3.5% 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 +43.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 68% against the previous year. As a result, the exports reached the peak of 2.5K tons, and then contracted in the following year.
In value terms, exports of stainless steel in ingots or other primary forms declined markedly to $2.9M in 2022. Overall, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 135%. As a result, the exports reached the peak of $3.7M, and then contracted sharply in the following year.
| Export of Stainless Steel in Ingots or Other Primary Forms in Azerbaijan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 999 | 921 | 1,240 | 1,244 | 7.6% |
| Latvia | N/A | N/A | 1,660 | 1,148 | -30.8% |
| Turkey | 384 | 146 | 89.0 | 185 | -21.6% |
| Spain | 38.6 | 89.4 | 340 | 166 | 62.6% |
| Netherlands | 393 | 233 | 203 | 108 | -35.0% |
| United Kingdom | 192 | 92.7 | 37.9 | 82.7 | -24.5% |
| Germany | 92.0 | 78.0 | 97.3 | N/A | 2.8% |
| Others | 170 | 32.2 | 70.0 | N/A | -35.8% |
| Total | 2,268 | 1,592 | 3,738 | 2,934 | 9.0% |
Top Export Markets for Stainless Steel in Ingots or Other Primary Forms from Azerbaijan in 2022:
- Estonia (1244.4 tons)
- Latvia (445.1 tons)
- Turkey (192.0 tons)
- Spain (124.0 tons)
- Netherlands (64.8 tons)
- United Kingdom (43.5 tons)
Imports of Stainless Steel in Ingots or Other Primary Forms in Azerbaijan
Imports of stainless steel in ingots or other primary forms into Azerbaijan dropped sharply to 5 tons in 2022, falling by -73.2% on the previous year. Over the period under review, imports continue to indicate a dramatic descent. The most prominent rate of growth was recorded in 2021 with an increase of 1,795%.
In value terms, imports of stainless steel in ingots or other primary forms declined notably to $41K in 2022. Overall, imports saw a significant contraction. The most prominent rate of growth was recorded in 2021 with an increase of 1,532% against the previous year. As a result, imports attained the peak of $385K, and then reduced sharply in the following year.
| Import of Stainless Steel in Ingots or Other Primary Forms in Azerbaijan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 26.6 | 9.8 | 39.0 | 22.2 | -5.8% |
| China | 0.5 | 0.3 | 1.8 | 2.3 | 66.3% |
| Singapore | 79.8 | 48.0 | 314 | N/A | 98.4% |
| Others | 156 | -34.5 | 30.3 | 16.3 | -52.9% |
| Total | 263 | 23.6 | 385 | 40.8 | -46.3% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to Azerbaijan in 2022:
- Turkey (1.7 tons)
- China (0.5 tons)
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