Price for Wire of Other Alloy Steel in Panama - 2023
Contents:
- Price for Wire of Other Alloy Steel in Panama (CIF) - 2023
- Price for Wire of Other Alloy Steel in Panama (FOB) - 2022
- Imports of Wire of Other Alloy Steel in Panama
- Exports of Wire of Other Alloy Steel in Panama
Price for Wire of Other Alloy Steel in Panama (CIF) - 2023
The average import price for wire of other alloy steels stood at $1,089 per ton in May 2023, picking up by 42% against the previous month. Over the period under review, the import price, however, faced a dramatic contraction. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 226% m-o-m. The import price peaked at $5,000 per ton in November 2022; however, from December 2022 to May 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In May 2023, the country with the highest price was Guatemala ($2,404 per ton), while the price for China amounted to $970 per ton.
From November 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Turkey (+33.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Wire of Other Alloy Steel in Panama (FOB) - 2022
In 2022, the average export price for wire of other alloy steels amounted to $4,344 per ton, increasing by 248% against the previous year. In general, the export price posted a tangible increase. The pace of growth was the most pronounced in 2015 an increase of 801% against the previous year. Over the period under review, the average export prices hit record highs at $13,875 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($6,868 per ton), while the average price for exports to Guatemala ($810 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 Costa Rica (+6.7%), while the prices for the other major destinations experienced a decline.
Imports of Wire of Other Alloy Steel in Panama
In 2022, wire of other alloy steel imports into Panama dropped remarkably to 1.9K tons, shrinking by -34.4% on 2021 figures. Overall, imports, however, saw a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 257%. As a result, imports reached the peak of 2.9K tons, and then contracted dramatically in the following year.
In value terms, wire of other alloy steel imports dropped significantly to $2.2M in 2022. Over the period under review, imports, however, showed significant growth. The growth pace was the most rapid in 2021 when imports increased by 302% against the previous year. As a result, imports attained the peak of $2.9M, and then shrank notably in the following year.
| Import of Wire of Other Alloy Steel in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 601 | 140 | 1,437 | 996 | 18.3% |
| Turkey | 80.2 | 470 | 970 | 675 | 103.4% |
| Dominican Republic | N/A | N/A | 251 | 259 | 3.2% |
| Costa Rica | N/A | N/A | 140 | 74.1 | -47.1% |
| Others | 223 | 124 | 151 | 171 | -8.5% |
| Total | 904 | 734 | 2,949 | 2,174 | 34.0% |
Top Suppliers of Wire of Other Alloy Steel to Panama in 2022:
- China (1056.0 tons)
- Turkey (502.0 tons)
- Dominican Republic (175.1 tons)
- Costa Rica (61.2 tons)
Exports of Wire of Other Alloy Steel in Panama
In 2022, exports of wire of other alloy steels from Panama reduced notably to 2.5 tons, declining by -57.3% against the year before. Over the period under review, exports faced a precipitous descent. The smallest decline of -19.9% was in 2021.
In value terms, wire of other alloy steel exports surged to $11K in 2022. Overall, exports showed a precipitous setback.
| Export of Wire of Other Alloy Steel in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Costa Rica | 1.1 | N/A | 2.6 | 9.3 | 103.7% |
| Grenada | N/A | N/A | N/A | 0.9 | 0% |
| Chile | N/A | N/A | N/A | 0.4 | 0% |
| Guatemala | 1.8 | 10.8 | 4.7 | 0.1 | -61.8% |
| Slovakia | 17.4 | N/A | N/A | N/A | 0% |
| Others | 1.3 | 0.2 | N/A | N/A | -84.6% |
| Total | 21.7 | 11.0 | 7.2 | 10.7 | -21.0% |
Top Export Markets for Wire of Other Alloy Steel from Panama in 2022:
- Costa Rica (1357.0 kg)
- Grenada (886.0 kg)
- Guatemala (126.0 kg)
- Chile (101.0 kg)
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