Price for Wire of Other Alloy Steel in Australia - 2023
Contents:
- Price for Wire of Other Alloy Steel in Australia (CIF) - 2023
- Price for Wire of Other Alloy Steel in Australia (FOB) - 2023
- Imports of Wire of Other Alloy Steel in Australia
- Exports of Wire of Other Alloy Steel in Australia
Price for Wire of Other Alloy Steel in Australia (CIF) - 2023
In August 2023, the average import price for wire of other alloy steels amounted to $1,200 per ton, shrinking by -6.4% against the previous month. In general, the import price recorded a mild curtailment. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 7.4% m-o-m. Over the period under review, average import prices attained the peak figure at $1,303 per ton in December 2022; however, from January 2023 to August 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the Czech Republic ($4,744 per ton), while the price for Malaysia ($917 per ton) was amongst the lowest.
From December 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Wire of Other Alloy Steel in Australia (FOB) - 2023
The average export price for wire of other alloy steels stood at $1,270 per ton in August 2023, waning by -24.7% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in July 2023 when the average export price increased by 43% month-to-month. The export price peaked at $2,057 per ton in March 2023; however, from April 2023 to August 2023, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for New Zealand.
From December 2022 to August 2023, the rate of growth in terms of prices for New Zealand amounted to -1.1% per month.
Imports of Wire of Other Alloy Steel in Australia
After three years of growth, purchases abroad of wire of other alloy steels decreased by -21.9% to 21K tons in 2022. The total import volume increased at an average annual rate of +4.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 23%.
In value terms, wire of other alloy steel imports contracted to $31M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +14.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.8% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 50%. As a result, imports reached the peak of $35M, and then reduced in the following year.
| Import of Wire of Other Alloy Steel in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 14.2 | 16.2 | 24.1 | 17.0 | 6.2% |
| Vietnam | 0.6 | 0.8 | 3.0 | 5.2 | 105.4% |
| Italy | 1.7 | 1.9 | 2.3 | 2.6 | 15.2% |
| South Korea | 1.8 | 1.9 | 2.7 | 2.4 | 10.1% |
| Malaysia | 0.3 | 0.7 | 1.6 | 2.1 | 91.3% |
| Others | 2.0 | 1.6 | 1.2 | 1.5 | -9.1% |
| Total | 20.6 | 23.2 | 34.7 | 30.8 | 14.3% |
Top Suppliers of Wire of Other Alloy Steel to Australia in 2022:
- China (13.2K tons)
- Vietnam (3.5K tons)
- South Korea (1.4K tons)
- Malaysia (1.2K tons)
- Italy (1.1K tons)
Exports of Wire of Other Alloy Steel in Australia
For the third year in a row, Australia recorded decline in overseas shipments of wire of other alloy steels, which decreased by -57.1% to 2.8K tons in 2022. In general, exports recorded a precipitous descent. The smallest decline of -12.3% was in 2021.
In value terms, wire of other alloy steel exports fell significantly to $4.6M in 2022. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2020 when exports increased by 26% against the previous year. As a result, the exports attained the peak of $11M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Wire of Other Alloy Steel in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 8.6 | 10.6 | 10.0 | 4.2 | -21.3% |
| United States | 0.2 | 0.4 | 0.2 | 0.3 | 14.5% |
| Others | N/A | 0.1 | 0.1 | N/A | 0.0% |
| Total | 8.8 | 11.1 | 10.2 | 4.6 | -19.4% |
Top Export Markets for Wire of Other Alloy Steel from Australia in 2022:
- New Zealand (2701.1 tons)
- United States (121.3 tons)
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