Price for Steel, Stainless; Ingots and Other Primary Forms in India - 2023
Contents:
- Price for Steel, Stainless; Ingots and Other Primary Forms in India (CIF) - 2022
- Price for Steel, Stainless; Ingots and Other Primary Forms in India (FOB) - 2023
- Imports of Steel, Stainless; Ingots and Other Primary Forms in India
- Exports of Steel, Stainless; Ingots and Other Primary Forms in India
Price for Steel, Stainless; Ingots and Other Primary Forms in India (CIF) - 2022
In 2022, the average import price for steel, stainless; ingots and other primary formses amounted to $2,147 per ton, jumping by 51% against the previous year. In general, the import price enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2013 when the average import price increased by 116%. Over the period under review, average import prices attained the peak figure at $3,293 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.
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 Italy ($3,285 per ton), while the price for Vietnam ($1,568 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+4.5%), while the prices for the other major suppliers experienced a decline.
Price for Steel, Stainless; Ingots and Other Primary Forms in India (FOB) - 2023
In October 2023, the average export price for steel, stainless; ingots and other primary formses amounted to $8,329 per ton, surging by 69% against the previous month. Overall, the export price, however, saw a deep reduction. The pace of growth appeared the most rapid in June 2023 an increase of 210% month-to-month. The export price peaked at $18,454 per ton in February 2023; however, from March 2023 to October 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In October 2023, the country with the highest price was Canada ($16,386 per ton), while the average price for exports to Kenya ($1,631 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+60.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Stainless; Ingots and Other Primary Forms in India
In 2022, the amount of steel, stainless; ingots and other primary formses imported into India contracted sharply to 2K tons, shrinking by -44.2% on the previous year's figure. In general, imports faced a sharp decrease. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year.
In value terms, imports of steel, stainless; ingots and other primary formses contracted notably to $4.2M in 2022. Overall, imports recorded a precipitous descent. The most prominent rate of growth was recorded in 2021 with an increase of 4.2% against the previous year.
| Import of Steel, Stainless; Ingots and Other Primary Forms in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 3.1 | 0.4 | N/A | 2.1 | -12.2% |
| Vietnam | 4.9 | 3.6 | 4.6 | 2.0 | -25.8% |
| United Arab Emirates | N/A | N/A | N/A | 0.1 | 0% |
| Others | 1.4 | 0.8 | 0.3 | N/A | -53.7% |
| Total | 9.4 | 4.8 | 5.0 | 4.2 | -23.6% |
Top Suppliers of Steel, Stainless; Ingots and Other Primary Forms to India in 2022:
- Vietnam (1272.2 tons)
- Italy (628.2 tons)
- United Arab Emirates (53.3 tons)
Exports of Steel, Stainless; Ingots and Other Primary Forms in India
In 2022, exports of steel, stainless; ingots and other primary formses from India surged to 367 tons, jumping by 297% compared with the year before. In general, exports posted strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of steel, stainless; ingots and other primary formses skyrocketed to $3.4M in 2022. Overall, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Steel, Stainless; Ingots and Other Primary Forms in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 563 | 345 | 1,094 | 2,636 | 67.3% |
| Italy | N/A | N/A | N/A | 705 | 0% |
| United States | 30.4 | 1.2 | 27.7 | 28.9 | -1.7% |
| United Arab Emirates | 25.5 | 8.1 | 2.7 | 8.5 | -30.7% |
| Saudi Arabia | 50.3 | 16.4 | 14.7 | 7.0 | -48.2% |
| Ukraine | 126 | 47.0 | N/A | 4.2 | -67.8% |
| Indonesia | 25.1 | 0.1 | 0.4 | 0.5 | -72.9% |
| Others | 67.1 | 29.5 | 61.2 | 41.4 | -14.9% |
| Total | 888 | 447 | 1,200 | 3,431 | 56.9% |
Top Export Markets for Steel, Stainless; Ingots and Other Primary Forms from India in 2022:
- Italy (180.3 tons)
- Canada (165.6 tons)
- United States (6.9 tons)
- United Arab Emirates (4.1 tons)
- Saudi Arabia (0.9 tons)
- Ukraine (0.3 tons)
- Indonesia (0.3 tons)
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