Price for Stainless Steel in Ingots or Other Primary Forms in Bangladesh - 2022
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in Bangladesh (CIF) - 2022
- Imports of Stainless Steel in Ingots or Other Primary Forms in Bangladesh
Price for Stainless Steel in Ingots or Other Primary Forms in Bangladesh (CIF) - 2022
In 2022, the average import price for stainless steel in ingots or other primary forms amounted to $2,099 per ton, remaining relatively unchanged against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% 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 in ingots or other primary forms decreased by -0.9% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 31% against the previous year. Over the period under review, average import prices hit record highs at $2,119 per ton in 2020; afterwards, it flattened through to 2022.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($13,491 per ton), while the price for South Korea ($506 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Stainless Steel in Ingots or Other Primary Forms in Bangladesh
After three years of growth, supplies from abroad of stainless steel in ingots or other primary forms decreased by -3.7% to 24 tons in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +16.5% 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 +58.2% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 52%.
In value terms, imports of stainless steel in ingots or other primary forms fell slightly to $50K in 2022. Overall, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +25.3% 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 +96.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 91% against the previous year.
| Import of Stainless Steel in Ingots or Other Primary Forms in Bangladesh (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 20.3 | 30.6 | 4.1 | 21.5 | 1.9% |
| Malaysia | 1.5 | 2.8 | 0.5 | 2.9 | 24.6% |
| India | 0.2 | 0.4 | 0.1 | 0.8 | 58.7% |
| China | 2.1 | 2.4 | 0.2 | 0.7 | -30.7% |
| South Korea | 0.4 | 0.6 | 0.1 | 0.3 | -9.1% |
| Saudi Arabia | N/A | 10.8 | N/A | N/A | 0% |
| Others | 0.9 | 1.1 | 46.8 | 24.0 | 198.8% |
| Total | 25.5 | 48.7 | 51.7 | 50.2 | 25.3% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to Bangladesh in 2022:
- Hong Kong SAR (8.9 tons)
- Malaysia (2.0 tons)
- South Korea (0.7 tons)
- India (0.4 tons)
- China (0.1 tons)
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