Price for Stainless Steel in Ingots or Other Primary Forms in China - 2023
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in China (CIF) - 2023
- Price for Stainless Steel in Ingots or Other Primary Forms in China (FOB) - 2022
- Imports of Stainless Steel in Ingots or Other Primary Forms in China
- Exports of Stainless Steel in Ingots or Other Primary Forms in China
Price for Stainless Steel in Ingots or Other Primary Forms in China (CIF) - 2023
In September 2023, the average import price for stainless steel in ingots or other primary forms amounted to $1,621 per ton, declining by -7.4% against the previous month. Overall, the import price saw a pronounced decrease. The most prominent rate of growth was recorded in April 2023 an increase of 50% m-o-m. As a result, import price reached the peak level of $3,430 per ton. From May 2023 to September 2023, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Indonesia.
From September 2022 to September 2023, the rate of growth in terms of prices for Indonesia amounted to -2.6% per month.
Price for Stainless Steel in Ingots or Other Primary Forms in China (FOB) - 2022
The average export price for stainless steel in ingots or other primary forms stood at $2,768 per ton in 2022, reducing by -49.7% against the previous year. Over the period under review, the export price recorded a drastic downturn. The growth pace was the most rapid in 2018 an increase of 140% against the previous year. Over the period under review, the average export prices reached the peak figure at $12,763 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($2,572 per ton), while the average price for exports to Taiwan (Chinese) stood at $2,534 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+6.3%), while the prices for the other major destinations experienced a decline.
Imports of Stainless Steel in Ingots or Other Primary Forms in China
In 2022, the amount of stainless steel in ingots or other primary forms imported into China surged to 1.6M tons, growing by 16% compared with the previous year's figure. In general, imports saw a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 469%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the near future.
In value terms, imports of stainless steel in ingots or other primary forms surged to $3.6B in 2022. Over the period under review, imports posted a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 401% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Stainless Steel in Ingots or Other Primary Forms in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 226 | 1,282 | 2,685 | 3,407 | 147.0% |
| South Korea | N/A | 0.2 | 21.2 | 70.3 | 1774.8% |
| Others | 36.6 | 33.4 | 80.3 | 82.5 | 31.1% |
| Total | 263 | 1,316 | 2,786 | 3,560 | 138.3% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to China in 2022:
- Indonesia (1512.5K tons)
- South Korea (36.6K tons)
Exports of Stainless Steel in Ingots or Other Primary Forms in China
In 2022, the amount of stainless steel in ingots or other primary forms exported from China skyrocketed to 297 tons, rising by 48% compared with 2021 figures. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 85%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in the near future.
In value terms, exports of stainless steel in ingots or other primary forms fell markedly to $823K in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 53%. As a result, the exports attained the peak of $1.2M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Stainless Steel in Ingots or Other Primary Forms in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 46.5 | 22.1 | 15.4 | 622 | 137.4% |
| Taiwan (Chinese) | 64.9 | 338 | 165 | 136 | 28.0% |
| United States | 45.7 | 182 | 326 | 13.0 | -34.2% |
| United Arab Emirates | 303 | 17.8 | 19.5 | N/A | -74.6% |
| Myanmar | 78.2 | 0.4 | N/A | N/A | -99.5% |
| Others | 276 | 688 | 580 | 52.4 | -42.5% |
| Total | 814 | 1,248 | 1,106 | 823 | 0.4% |
Top Export Markets for Stainless Steel in Ingots or Other Primary Forms from China in 2022:
- South Korea (241.8 tons)
- Taiwan (Chinese) (53.7 tons)
- United States (1.1 tons)
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