Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in Singapore - 2023

Contents:

1. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in Singapore (CIF) - 2022
2. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in Singapore (FOB) - 2022
3. Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in Singapore
4. Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in Singapore

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in Singapore (CIF) - 2022

In 2022, the average import price for steel, alloy amounted to $2,788 per ton, increasing by 44% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.6% 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 steel, alloy increased by +89.3% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($3,207 per ton), while the price for Malaysia ($1,341 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in Singapore (FOB) - 2022

In 2022, the average export price for steel, alloy amounted to $2,440 per ton, picking up by 47% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for steel, alloy increased by +60.2% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($3,708 per ton), while the average price for exports to Egypt ($1,491 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 India (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in Singapore

In 2022, purchases abroad of steel, alloy decreased by -11.3% to 13K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +8.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 27%. As a result, imports attained the peak of 14K tons, and then dropped in the following year.

In value terms, imports of steel, alloy skyrocketed to $35M in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 67% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in years to come.

Top Suppliers of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented to Singapore in 2022:

1. China (8.6K tons)
2. Japan (1.6K tons)
3. Malaysia (0.9K tons)
4. Russia (0.7K tons)
5. South Korea (0.2K tons)

Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in Singapore

In 2022, overseas shipments of steel, alloy decreased by -4.9% to 5K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a perceptible reduction. The pace of growth was the most pronounced in 2020 with an increase of 7.7%. As a result, the exports reached the peak of 6K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of steel, alloy skyrocketed to $12M in 2022. The total export value increased at an average annual rate of +10.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented from Singapore in 2022:

1. India (1446.6 tons)
2. Pakistan (1099.7 tons)
3. Myanmar (924.0 tons)
4. Egypt (876.7 tons)
5. China (150.5 tons)
6. Sri Lanka (123.5 tons)
7. Australia (107.1 tons)
8. Indonesia (99.5 tons)
9. Malaysia (84.6 tons)
10. Vietnam (24.9 tons)
11. Hong Kong SAR (22.5 tons)

Source: IndexBox Market Intelligence Platform