Singapore - Articles Of Iron Or Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Steel and Iron Articles in Singapore - 2022
Contents:
- Price for Steel and Iron Articles in Singapore (CIF) - 2022
- Price for Steel and Iron Articles in Singapore (FOB) - 2022
- Imports of Steel and Iron Articles in Singapore
- Exports of Steel and Iron Articles in Singapore
Price for Steel and Iron Articles in Singapore (CIF) - 2022
In September 2022, the average steel and iron articles import price amounted to $11,480 per ton, growing by 9.5% against the previous month. Over the period under review, import price indicated notable growth from September 2021 to September 2022: its price increased at an average monthly rate of +3.8% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, steel and iron articles import price increased by +28.6% against July 2022 indices. The most prominent rate of growth was recorded in January 2022 when the average import price increased by 27% m-o-m. The import price peaked at $12,705 per ton in March 2022; however, from April 2022 to September 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was the UK ($52,696 per ton), while the price for Saudi Arabia ($1,933 per ton) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by South Korea (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel and Iron Articles in Singapore (FOB) - 2022
The average steel and iron articles export price stood at $9,878 per ton in 2022, picking up by 18% against the previous year. Over the period under review, the export price posted a resilient increase. The pace of growth was the most pronounced in 2021 an increase of 51%. The export price peaked in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($31,829 per ton), while the average price for exports to Germany ($2,727 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 (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel and Iron Articles in Singapore
In 2022, approx. 76K tons of articles of iron or steel were imported into Singapore; with a decrease of -2.4% against the previous year's figure. In general, imports continue to indicate a drastic downturn.
In value terms, steel and iron articles imports surged to $534M in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Steel and Iron Articles in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 88.1 | 75.1 | 120 | 133 | 14.7% |
| Malaysia | 104 | 88.7 | 108 | 117 | 4.0% |
| United States | 88.0 | 94.9 | 88.5 | 98.5 | 3.8% |
| Japan | 35.8 | 15.9 | 18.4 | 27.9 | -8.0% |
| South Korea | 16.7 | 10.1 | 7.6 | 21.4 | 8.6% |
| Taiwan (Chinese) | 9.4 | 7.2 | 5.7 | 8.5 | -3.3% |
| Indonesia | 11.0 | 22.3 | 6.9 | 7.3 | -12.8% |
| Vietnam | 2.8 | 3.2 | 4.0 | 5.6 | 26.0% |
| Others | 137 | 114 | 97.9 | 116 | -5.4% |
| Total | 493 | 431 | 457 | 534 | 2.7% |
Top Suppliers of Steel and Iron Articles to Singapore in 2022:
- Malaysia (27.7K tons)
- China (23.5K tons)
- United States (4.5K tons)
- Japan (4.2K tons)
- South Korea (3.8K tons)
- Taiwan (Chinese) (2.4K tons)
- Vietnam (2.2K tons)
- Indonesia (0.9K tons)
Exports of Steel and Iron Articles in Singapore
In 2022, approx. 40K tons of articles of iron or steel were exported from Singapore; falling by -3.4% compared with the year before. Overall, exports showed a drastic downturn.
In value terms, steel and iron articles exports rose remarkably to $391M in 2022. The total export value increased at an average annual rate of +5.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 17% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Steel and Iron Articles in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 81.1 | 65.2 | 77.7 | 65.1 | -7.1% |
| Saudi Arabia | 4.4 | 3.6 | 26.8 | 46.9 | 120.1% |
| Indonesia | 35.0 | 41.2 | 45.2 | 43.7 | 7.7% |
| United States | 36.5 | 31.3 | 38.2 | 33.6 | -2.7% |
| Thailand | 18.8 | 23.9 | 26.3 | 24.3 | 8.9% |
| China | 26.9 | 24.1 | 18.3 | 23.1 | -4.9% |
| United Arab Emirates | 4.3 | 2.2 | 1.0 | 17.7 | 60.3% |
| Chile | N/A | N/A | 0.1 | 6.4 | 6300.0% |
| Germany | 3.7 | 2.6 | 3.0 | 2.8 | -8.9% |
| Others | 118 | 101 | 108 | 128 | 2.7% |
| Total | 329 | 295 | 344 | 391 | 5.9% |
Top Export Markets for Steel and Iron Articles from Singapore in 2022:
- Malaysia (20.0K tons)
- Indonesia (5.9K tons)
- Saudi Arabia (2.0K tons)
- China (1.4K tons)
- United States (1.1K tons)
- Chile (1.1K tons)
- Germany (1.0K tons)
- Thailand (1.0K tons)
- United Arab Emirates (0.9K tons)
This report provides an in-depth analysis of the market for steel and iron articles in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25992945 - Articles of iron or steel, n.e.s.
- Prodcom 25992931 - Iron or steel ladders and steps (excluding forged or stamped)
- Prodcom 25992933 - Iron or steel pallets and similar platforms for handling goods
- Prodcom 25992935 - Iron or steel reels for cables, piping and the like
- Prodcom 25992937 - Iron or steel non-mechanical ventilators, guttering, hooks and similar articles used in the building industry (excluding forged or stamped)
Country coverage:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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