Price for Steel, Stainless; Angles, Shapes and Sections in the United States - 2024
Contents:
- Price for Steel, Stainless; Angles, Shapes and Sections in the United States (CIF) - 2024
- Price for Steel, Stainless; Angles, Shapes and Sections in the United States (FOB) - 2022
- Imports of Steel, Stainless; Angles, Shapes and Sections in the United States
- Exports of Steel, Stainless; Angles, Shapes and Sections in the United States
Price for Steel, Stainless; Angles, Shapes and Sections in the United States (CIF) - 2024
The average import price for steel, stainless stood at $4,686 per ton in February 2024, reducing by -10.7% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average import price increased by 19% against the previous month. Over the period under review, average import prices hit record highs at $6,382 per ton in June 2023; however, from July 2023 to February 2024, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In February 2024, the country with the highest price was Germany ($8,868 per ton), while the price for Taiwan (Chinese) ($3,703 per ton) was amongst the lowest.
From March 2023 to February 2024, the most notable rate of growth in terms of prices was attained by Germany (-0.7%), while the prices for the other major suppliers experienced a decline.
Price for Steel, Stainless; Angles, Shapes and Sections in the United States (FOB) - 2022
In 2022, the average export price for steel, stainless amounted to $10,734 per ton, picking up by 35% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($35,429 per ton), while the average price for exports to Belize ($2,351 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 China (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Stainless; Angles, Shapes and Sections in the United States
In 2022, approx. 12K tons of steel, stainless were imported into the United States; dropping by -30.6% on the previous year. In general, imports showed a perceptible downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 49% against the previous year. As a result, imports attained the peak of 17K tons, and then declined rapidly in the following year.
In value terms, imports of steel, stainless dropped to $67M in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +6.4% 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 +54.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 61%. As a result, imports attained the peak of $70M, and then contracted modestly in the following year.
| Import of Steel, Stainless; Angles, Shapes and Sections in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 33.9 | 28.3 | 50.4 | 45.0 | 9.9% |
| Germany | 7.3 | 5.9 | 6.7 | 6.6 | -3.3% |
| Italy | 6.2 | 4.2 | 6.1 | 5.9 | -1.6% |
| Taiwan (Chinese) | 0.5 | 0.3 | 0.8 | 1.7 | 50.4% |
| Others | 7.5 | 4.6 | 5.8 | 7.6 | 0.4% |
| Total | 55.4 | 43.3 | 69.8 | 66.7 | 6.4% |
Top Suppliers of Steel, Stainless; Angles, Shapes and Sections to the United States in 2022:
- India (9.4K tons)
- Italy (0.9K tons)
- Germany (0.7K tons)
- Taiwan (Chinese) (0.3K tons)
Exports of Steel, Stainless; Angles, Shapes and Sections in the United States
In 2022, exports of steel, stainless from the United States declined to 3.1K tons, remaining stable against the previous year's figure. The total export volume increased at an average annual rate of +6.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. As a result, the exports attained the peak of 3.1K tons, leveling off in the following year.
In value terms, exports of steel, stainless surged to $33M in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +11.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +66.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 32%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the near future.
| Export of Steel, Stainless; Angles, Shapes and Sections in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 9.2 | 7.9 | 8.4 | 9.8 | 2.1% |
| Mexico | 2.4 | 2.5 | 5.4 | 5.9 | 35.0% |
| Vietnam | 2.3 | 2.7 | 1.9 | 3.1 | 10.5% |
| Costa Rica | 2.0 | 1.3 | 2.1 | 2.9 | 13.2% |
| Singapore | 0.1 | 0.2 | 0.7 | 1.9 | 166.8% |
| China | 0.5 | 0.3 | 1.4 | 1.5 | 44.2% |
| Panama | 0.1 | 0.4 | 0.4 | 0.9 | 108.0% |
| United Kingdom | 1.4 | 0.3 | 0.5 | 0.5 | -29.1% |
| Cayman Islands | N/A | N/A | N/A | 0.2 | 0% |
| Dominican Republic | N/A | 0.1 | 0.1 | 0.2 | 41.4% |
| Belize | 0.1 | N/A | 0.2 | 0.1 | 0.0% |
| Others | 5.5 | 4.0 | 5.1 | 6.0 | 2.9% |
| Total | 23.7 | 19.8 | 26.2 | 33.0 | 11.7% |
Top Export Markets for Steel, Stainless; Angles, Shapes and Sections from the United States in 2022:
- Canada (1031.8 tons)
- Mexico (793.4 tons)
- Panama (358.3 tons)
- Singapore (138.5 tons)
- Costa Rica (137.4 tons)
- Vietnam (87.3 tons)
- Dominican Republic (60.2 tons)
- China (60.0 tons)
- Belize (59.2 tons)
- Cayman Islands (55.5 tons)
- United Kingdom (20.1 tons)
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