Price for Stainless Steel in Ingots or Other Primary Forms in Canada - 2023
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in Canada (FOB) - 2023
- Price for Stainless Steel in Ingots or Other Primary Forms in Canada (CIF) - 2023
- Exports of Stainless Steel in Ingots or Other Primary Forms in Canada
- Imports of Stainless Steel in Ingots or Other Primary Forms in Canada
Price for Stainless Steel in Ingots or Other Primary Forms in Canada (FOB) - 2023
The average export price for stainless steel in ingots or other primary forms stood at $3,629 per ton in June 2023, declining by -11.5% against the previous month. Overall, the export price continues to indicate a perceptible setback. The pace of growth appeared the most rapid in November 2022 an increase of 55% against the previous month. As a result, the export price attained the peak level of $5,990 per ton. From December 2022 to June 2023, the the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the United States.
From September 2022 to June 2023, the rate of growth in terms of prices for the UK amounted to +18.6% per month.
Price for Stainless Steel in Ingots or Other Primary Forms in Canada (CIF) - 2023
The average import price for stainless steel in ingots or other primary forms stood at $6,136 per ton in June 2023, with an increase of 92% against the previous month. Overall, import price indicated strong growth from September 2022 to June 2023: its price increased at an average monthly rate of +6.3% over the last nine-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, import price for stainless steel in ingots or other primary forms increased by +91.8% against May 2023 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From September 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to +6.5% per month.
Exports of Stainless Steel in Ingots or Other Primary Forms in Canada
After three years of growth, shipments abroad of stainless steel in ingots or other primary forms decreased by -30% to 12K tons in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +5.3% 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 +16.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 66%. As a result, the exports reached the peak of 17K tons, and then declined notably in the following year.
In value terms, exports of stainless steel in ingots or other primary forms dropped modestly to $54M in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 101%. As a result, the exports attained the peak of $54M, leveling off in the following year.
| Export of Stainless Steel in Ingots or Other Primary Forms in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 13.4 | 26.0 | 53.1 | 53.0 | 58.1% |
| United Kingdom | 0.1 | N/A | N/A | 0.2 | 26.0% |
| Others | 1.1 | 0.8 | 0.6 | 0.5 | -23.1% |
| Total | 14.6 | 26.8 | 53.7 | 53.7 | 54.4% |
Top Export Markets for Stainless Steel in Ingots or Other Primary Forms from Canada in 2022:
- United States (11.6K tons)
- United Kingdom (0.2K tons)
Imports of Stainless Steel in Ingots or Other Primary Forms in Canada
In 2022, after two years of decline, there was growth in supplies from abroad of stainless steel in ingots or other primary forms, when their volume increased by 3.2% to 5.5K tons. In general, imports, however, continue to indicate a precipitous setback.
In value terms, imports of stainless steel in ingots or other primary forms soared to $23M in 2022. Over the period under review, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Stainless Steel in Ingots or Other Primary Forms in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 11.8 | 12.8 | 9.6 | 20.0 | 19.2% |
| China | 0.6 | 0.2 | 0.5 | 0.3 | -20.6% |
| Morocco | N/A | N/A | N/A | N/A | 0% |
| Others | 1.6 | 1.4 | 1.8 | 2.5 | 16.0% |
| Total | 13.9 | 14.4 | 11.9 | 22.8 | 17.9% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to Canada in 2022:
- United States (78.4K tons)
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