Price for Wire of Other Alloy Steel in Sri Lanka - 2022
Contents:
- Price for Wire of Other Alloy Steel in Sri Lanka (CIF) - 2022
- Price for Wire of Other Alloy Steel in Sri Lanka (FOB) - 2022
- Imports of Wire of Other Alloy Steel in Sri Lanka
- Exports of Wire of Other Alloy Steel in Sri Lanka
Price for Wire of Other Alloy Steel in Sri Lanka (CIF) - 2022
In 2022, the average import price for wire of other alloy steels amounted to $2,435 per ton, surging by 30% against the previous year. Overall, the import price continues to indicate strong growth. The pace of growth was the most pronounced in 2021 when the average import price increased by 83% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
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 China ($2,689 per ton), while the price for the United Arab Emirates ($875 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Wire of Other Alloy Steel in Sri Lanka (FOB) - 2022
In 2022, the average export price for wire of other alloy steels amounted to $1,437 per ton, declining by -31.6% against the previous year. Overall, the export price recorded a deep slump. The pace of growth was the most pronounced in 2013 an increase of 63% against the previous year. Over the period under review, the average export prices reached the peak figure at $5,275 per ton in 2019; however, from 2020 to 2022, 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 Maldives.
From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to +13.3% per year.
Imports of Wire of Other Alloy Steel in Sri Lanka
In 2022, purchases abroad of wire of other alloy steels decreased by -57.8% to 1.5K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports saw a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 47%. As a result, imports attained the peak of 4K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, wire of other alloy steel imports declined dramatically to $3.8M in 2022. In general, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 70%. As a result, imports reached the peak of $6.9M, and then reduced rapidly in the following year.
| Import of Wire of Other Alloy Steel in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 746 | 1,877 | 4,028 | 3,425 | 66.2% |
| Taiwan (Chinese) | 168 | 228 | 439 | 162 | -1.2% |
| Vietnam | 54.9 | 72.1 | 1,212 | 119 | 29.4% |
| South Korea | 253 | 33.6 | 7.7 | 26.4 | -52.9% |
| United Arab Emirates | 1,150 | 695 | 993 | N/A | -7.1% |
| Qatar | N/A | 988 | N/A | N/A | 0% |
| Others | 201 | 164 | 202 | 37.3 | -43.0% |
| Total | 2,573 | 4,058 | 6,883 | 3,770 | 13.6% |
Top Suppliers of Wire of Other Alloy Steel to Sri Lanka in 2022:
- China (1273.6 tons)
- Taiwan (Chinese) (177.1 tons)
- Vietnam (55.2 tons)
- South Korea (19.6 tons)
Exports of Wire of Other Alloy Steel in Sri Lanka
For the fourth consecutive year, Sri Lanka recorded growth in overseas shipments of wire of other alloy steels, which increased by 120% to 471 kg in 2022. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 143% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, wire of other alloy steel exports skyrocketed to $677 in 2022. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 104%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Wire of Other Alloy Steel in Sri Lanka (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Maldives | 6.0 | 15.0 | 58.0 | 677 | 383.2% |
| Seychelles | 3.0 | 8.0 | 15.0 | N/A | 123.6% |
| Indonesia | 202 | 166 | 322 | N/A | 26.3% |
| Denmark | N/A | 32.0 | N/A | N/A | 0% |
| Canada | N/A | N/A | 55.0 | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 211 | 221 | 450 | 677 | 47.5% |
Top Export Markets for Wire of Other Alloy Steel from Sri Lanka in 2022:
- Maldives (471.0 kg)
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