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

Contents:

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

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

In 2022, the average import price for steel, alloy amounted to $3,785 per ton, rising by 4.9% against the previous year. Over the period under review, the import price continues to indicate a noticeable increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 53% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 Germany ($9,115 per ton), while the price for France ($473 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

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

For the fourth year in a row, Venezuela recorded growth in purchases abroad of steel, alloy, which increased by 15% to 16 tons in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +14.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 15%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of steel, alloy soared to $62K in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.3% 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 +74.3% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

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

1. Brazil (13.4 tons)
2. France (2.0 tons)
3. United States (0.8 tons)
4. Germany (0.4 tons)

Source: IndexBox Market Intelligence Platform