Price for Steel, Stainless; Angles, Shapes and Sections in Singapore - 2023
Contents:
- Price for Steel, Stainless; Angles, Shapes and Sections in Singapore (CIF) - 2022
- Price for Steel, Stainless; Angles, Shapes and Sections in Singapore (FOB) - 2022
- Imports of Steel, Stainless; Angles, Shapes and Sections in Singapore
- Exports of Steel, Stainless; Angles, Shapes and Sections in Singapore
Price for Steel, Stainless; Angles, Shapes and Sections in Singapore (CIF) - 2022
In 2022, the average import price for steel, stainless amounted to $5,089 per ton, remaining stable against the previous year. Overall, the import price enjoyed a prominent increase. The growth pace was the most rapid in 2014 when the average import price increased by 50% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($9,307 per ton), while the price for China ($2,650 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel, Stainless; Angles, Shapes and Sections in Singapore (FOB) - 2022
In 2022, the average export price for steel, stainless amounted to $3,738 per ton, declining by -30.1% against the previous year. In general, the export price, however, posted a strong increase. The pace of growth appeared the most rapid in 2015 when the average export price increased by 140%. The export price peaked at $5,351 per ton in 2021, and then declined notably in the following year.
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 Norway ($6,646 per ton), while the average price for exports to Vietnam ($1,415 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 Norway (+45.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Stainless; Angles, Shapes and Sections in Singapore
In 2022, supplies from abroad of steel, stainless increased by 46% to 2.7K tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, faced a abrupt slump.
In value terms, imports of steel, stainless skyrocketed to $13M in 2022. Overall, total imports indicated a notable expansion from 2019 to 2022: its value increased at an average annual rate of +4.0% 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 +93.4% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Steel, Stainless; Angles, Shapes and Sections in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1.6 | 1.1 | 1.1 | 3.2 | 26.0% |
| China | 6.1 | 2.3 | 2.2 | 2.6 | -24.7% |
| Germany | N/A | N/A | 0.1 | 1.9 | 1800.0% |
| Taiwan (Chinese) | 0.7 | 0.7 | 1.3 | 1.3 | 22.9% |
| Malaysia | 0.6 | 0.8 | 1.1 | 0.7 | 5.3% |
| Japan | 0.4 | 1.0 | 1.2 | 0.2 | -20.6% |
| Belgium | N/A | 0.1 | 0.3 | 0.2 | 41.4% |
| Others | 2.4 | 1.0 | 2.0 | 3.1 | 8.9% |
| Total | 11.9 | 6.9 | 9.2 | 13.4 | 4.0% |
Top Suppliers of Steel, Stainless; Angles, Shapes and Sections to Singapore in 2022:
- China (993.4 tons)
- India (710.8 tons)
- Taiwan (Chinese) (281.5 tons)
- Germany (270.2 tons)
- Malaysia (82.9 tons)
- Japan (54.4 tons)
- Belgium (51.4 tons)
Exports of Steel, Stainless; Angles, Shapes and Sections in Singapore
In 2022, shipments abroad of steel, stainless was finally on the rise to reach 3K tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of steel, stainless surged to $7.2M in 2022. In general, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Steel, Stainless; Angles, Shapes and Sections in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1,100 | 874 | 353 | 3,908 | 52.6% |
| Malaysia | 1,192 | 988 | 2,086 | 1,086 | -3.1% |
| Norway | 0.3 | N/A | N/A | 350 | 952.7% |
| Vietnam | 29.3 | 0.3 | 8.3 | 154 | 73.9% |
| New Zealand | 227 | 304 | 378 | 116 | -20.1% |
| China | 25.2 | 200 | 242 | 113 | 64.9% |
| Others | 488 | 630 | 809 | 1,465 | 44.3% |
| Total | 3,062 | 2,996 | 3,877 | 7,191 | 32.9% |
Top Export Markets for Steel, Stainless; Angles, Shapes and Sections from Singapore in 2022:
- Indonesia (2478.1 tons)
- Malaysia (197.6 tons)
- Vietnam (108.5 tons)
- Norway (52.6 tons)
- New Zealand (21.0 tons)
- China (19.5 tons)
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