Price for Steel, Alloy; Ingots and Other Primary Forms in Singapore - 2023
Contents:
- Price for Steel, Alloy; Ingots and Other Primary Forms in Singapore (CIF) - 2023
- Price for Steel, Alloy; Ingots and Other Primary Forms in Singapore (FOB) - 2022
- Imports of Steel, Alloy; Ingots and Other Primary Forms in Singapore
- Exports of Steel, Alloy; Ingots and Other Primary Forms in Singapore
Price for Steel, Alloy; Ingots and Other Primary Forms in Singapore (CIF) - 2023
In September 2022, the average import price for steel, alloy; ingots and other primary formses amounted to $3,478 per ton, with an increase of 3.9% against the previous month. Over the period under review, the import price, however, recorded a dramatic downturn. Over the period under review, average import prices attained the maximum at $9,760 per ton in June 2022; however, from July 2022 to September 2022, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for China.
From June 2022 to September 2022, the rate of growth in terms of prices for China amounted to +1.8% per month.
Price for Steel, Alloy; Ingots and Other Primary Forms in Singapore (FOB) - 2022
In 2022, the average export price for steel, alloy; ingots and other primary formses amounted to $6,445 per ton, surging by 77% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2019 when the average export price increased by 280%. The export price peaked at $12,686 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($14,358 per ton), while the average price for exports to Indonesia ($2,630 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 (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Alloy; Ingots and Other Primary Forms in Singapore
In 2022, approx. 660 tons of steel, alloy; ingots and other primary formses were imported into Singapore; picking up by 812% compared with 2021. Over the period under review, imports recorded a prominent expansion.
In value terms, imports of steel, alloy; ingots and other primary formses skyrocketed to $3.8M in 2022. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 582%. As a result, imports reached the peak of $13M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Steel, Alloy; Ingots and Other Primary Forms in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 161 | 294 | 752 | 2,567 | 151.7% |
| China | 10.1 | 17.5 | 14.4 | 651 | 300.9% |
| Japan | 807 | 673 | 60.0 | 453 | -17.5% |
| Spain | N/A | N/A | N/A | 141 | 0% |
| Indonesia | N/A | 11,593 | N/A | 13.7 | -96.6% |
| United Kingdom | 141 | 284 | 209 | 4.9 | -67.4% |
| South Korea | 638 | 33.0 | N/A | N/A | -94.8% |
| Others | 139 | 37.7 | 16.1 | 12.6 | -55.1% |
| Total | 1,897 | 12,932 | 1,051 | 3,843 | 26.5% |
Top Suppliers of Steel, Alloy; Ingots and Other Primary Forms to Singapore in 2022:
- China (393.6 tons)
- United States (171.3 tons)
- Japan (73.3 tons)
- Spain (12.5 tons)
- Indonesia (1.5 tons)
- United Kingdom (0.7 tons)
Exports of Steel, Alloy; Ingots and Other Primary Forms in Singapore
In 2022, overseas shipments of steel, alloy; ingots and other primary formses decreased by -32.4% to 24 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2020 with an increase of 190%. As a result, the exports attained the peak of 286 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of steel, alloy; ingots and other primary formses skyrocketed to $155K in 2022. In general, exports showed a significant decrease. The pace of growth appeared the most rapid in 2020 with an increase of 279%. As a result, the exports attained the peak of $3.6M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Steel, Alloy; Ingots and Other Primary Forms in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | N/A | N/A | N/A | 75.8 | 0% |
| Netherlands | N/A | 3,456 | 1.3 | 37.1 | -89.6% |
| Australia | 8.0 | 35.8 | 15.4 | 17.5 | 29.8% |
| Malaysia | 13.1 | 114 | 78.5 | 11.4 | -4.5% |
| Indonesia | 19.8 | 21.1 | 22.0 | 9.1 | -22.8% |
| India | N/A | N/A | N/A | 4.2 | 0% |
| Spain | 489 | N/A | N/A | N/A | 0% |
| Germany | 422 | N/A | N/A | N/A | 0% |
| Others | 5.2 | 5.3 | 12.5 | N/A | 55.0% |
| Total | 957 | 3,632 | 130 | 155 | -45.5% |
Top Export Markets for Steel, Alloy; Ingots and Other Primary Forms from Singapore in 2022:
- Thailand (11.2 tons)
- Netherlands (4.0 tons)
- Malaysia (3.7 tons)
- Indonesia (3.5 tons)
- Australia (1.2 tons)
- India (0.5 tons)
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