Price for Stainless Steel in Ingots or Other Primary Forms in Japan - 2023
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in Japan (FOB) - 2022
- Price for Stainless Steel in Ingots or Other Primary Forms in Japan (CIF) - 2023
- Exports of Stainless Steel in Ingots or Other Primary Forms in Japan
- Imports of Stainless Steel in Ingots or Other Primary Forms in Japan
Price for Stainless Steel in Ingots or Other Primary Forms in Japan (FOB) - 2022
The average export price for stainless steel in ingots or other primary forms stood at $15,044 per ton in 2022, shrinking by -12.5% against the previous year. In general, the export price saw a slight slump. The growth pace was the most rapid in 2015 when the average export price increased by 82%. Over the period under review, the average export prices hit record highs at $23,288 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($48,707 per ton), while the average price for exports to Italy ($3,423 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 (+18.6%), 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 Japan (CIF) - 2023
In July 2023, the average import price for stainless steel in ingots or other primary forms amounted to $7,605 per ton, dropping by -49% against the previous month. Over the period under review, the import price showed a pronounced setback. The most prominent rate of growth was recorded in May 2023 an increase of 159% against the previous month. The import price peaked at $18,437 per ton in December 2022; however, from January 2023 to July 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the United States ($10,385 per ton), while the price for China amounted to $5,070 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the UK (+373.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Stainless Steel in Ingots or Other Primary Forms in Japan
In 2022, after two years of decline, there was significant growth in overseas shipments of stainless steel in ingots or other primary forms, when their volume increased by 200% to 1.1K tons. In general, exports enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of stainless steel in ingots or other primary forms soared to $16M in 2022. Overall, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Stainless Steel in Ingots or Other Primary Forms in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 3.3 | 5.2 | 5.0 | 13.6 | 60.3% |
| Argentina | N/A | N/A | N/A | 0.9 | 0% |
| Italy | N/A | N/A | N/A | 0.6 | 0% |
| Indonesia | 0.2 | N/A | 0.1 | 0.5 | 35.7% |
| Taiwan (Chinese) | 0.3 | N/A | 0.1 | 0.1 | -30.7% |
| China | 2.9 | 0.9 | 0.4 | 0.1 | -67.5% |
| South Korea | 0.1 | 0.3 | 0.1 | 0.1 | 0.0% |
| Others | 0.4 | 0.5 | 0.6 | 0.4 | 0.0% |
| Total | 7.3 | 6.9 | 6.2 | 16.2 | 30.4% |
Top Export Markets for Stainless Steel in Ingots or Other Primary Forms from Japan in 2022:
- Vietnam (561.5 tons)
- Argentina (199.1 tons)
- Italy (163.1 tons)
- China (23.9 tons)
- Indonesia (20.0 tons)
- Taiwan (Chinese) (12.5 tons)
- South Korea (6.2 tons)
Imports of Stainless Steel in Ingots or Other Primary Forms in Japan
In 2022, approx. 1.3K tons of stainless steel in ingots or other primary forms were imported into Japan; with a decrease of -5.2% compared with the year before. In general, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2021 when imports increased by 33%.
In value terms, imports of stainless steel in ingots or other primary forms soared to $8.3M in 2022. Overall, total imports indicated a slight expansion from 2019 to 2022: its value increased at an average annual rate of +1.3% 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 +91.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 47% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the near future.
| Import of Stainless Steel in Ingots or Other Primary Forms in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.3 | 0.4 | 1.3 | 3.2 | 120.1% |
| Sweden | 3.8 | 1.1 | 2.0 | 2.0 | -19.3% |
| United States | 1.6 | 1.3 | 1.2 | 1.6 | 0.0% |
| South Korea | 2.1 | 1.2 | 1.4 | 1.2 | -17.0% |
| United Kingdom | 0.1 | N/A | N/A | 0.2 | 26.0% |
| Others | 0.2 | 0.2 | 0.3 | 0.2 | 0.0% |
| Total | 8.0 | 4.3 | 6.3 | 8.3 | 1.2% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to Japan in 2022:
- South Korea (428.9 tons)
- Sweden (415.3 tons)
- China (323.1 tons)
- United States (223.0 tons)
- United Kingdom (22.0 tons)
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