Price for Wire of Other Alloy Steel in Thailand - 2024
Contents:
- Price for Wire of Other Alloy Steel in Thailand (CIF) - 2024
- Price for Wire of Other Alloy Steel in Thailand (FOB) - 2024
- Imports of Wire of Other Alloy Steel in Thailand
- Exports of Wire of Other Alloy Steel in Thailand
Price for Wire of Other Alloy Steel in Thailand (CIF) - 2024
In September 2023, the average import price for wire of other alloy steels amounted to $1,798 per ton, rising by 4.2% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in March 2023 when the average import price increased by 12% month-to-month. The import price peaked at $1,990 per ton in April 2023; however, from May 2023 to September 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was South Korea ($3,470 per ton), while the price for China ($960 per ton) was amongst the lowest.
From January 2023 to September 2023, the most notable rate of growth in terms of prices was attained by South Korea (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Wire of Other Alloy Steel in Thailand (FOB) - 2024
The average export price for wire of other alloy steels stood at $1,240 per ton in September 2023, jumping by 25% against the previous month. Over the period under review, the export price, however, recorded a slight decline. The export price peaked at $1,390 per ton in January 2023; however, from February 2023 to September 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($2,177 per ton), while the average price for exports to Myanmar ($827 per ton) was amongst the lowest.
From January 2023 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Wire of Other Alloy Steel in Thailand
Wire of other alloy steel imports into Thailand surged to 84K tons in 2022, rising by 32% against 2021 figures. Overall, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +15.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
In value terms, wire of other alloy steel imports totaled $110M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +8.1% 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 +63.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.
| Import of Wire of Other Alloy Steel in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 45.4 | 33.9 | 58.1 | 47.2 | 1.3% |
| China | 18.2 | 15.0 | 21.8 | 21.4 | 5.5% |
| Russia | N/A | N/A | N/A | 18.3 | 0% |
| Taiwan (Chinese) | 7.5 | 6.5 | 11.0 | 5.5 | -9.8% |
| Indonesia | 2.8 | 2.5 | 4.0 | 4.0 | 12.6% |
| Vietnam | 3.0 | 1.4 | 3.9 | 3.9 | 9.1% |
| Malaysia | 3.5 | 2.9 | 3.2 | 3.8 | 2.8% |
| South Korea | 3.7 | 2.4 | 3.4 | 3.0 | -6.8% |
| Others | 3.2 | 2.9 | 4.1 | 3.2 | 0.0% |
| Total | 87.3 | 67.5 | 109 | 110 | 8.0% |
Top Suppliers of Wire of Other Alloy Steel to Thailand in 2022:
- Russia (31.7K tons)
- Japan (21.3K tons)
- China (18.3K tons)
- Taiwan (Chinese) (3.8K tons)
- Vietnam (2.9K tons)
- Malaysia (2.4K tons)
- Indonesia (1.3K tons)
- South Korea (1.2K tons)
Exports of Wire of Other Alloy Steel in Thailand
In 2022, the amount of wire of other alloy steels exported from Thailand shrank notably to 45K tons, declining by -45.8% on the previous year's figure. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 116%. As a result, the exports reached the peak of 83K tons, and then contracted notably in the following year.
In value terms, wire of other alloy steel exports declined dramatically to $50M in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 127% against the previous year. As a result, the exports attained the peak of $70M, and then dropped rapidly in the following year.
| Export of Wire of Other Alloy Steel in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 21.1 | 9.2 | 36.4 | 18.3 | -4.6% |
| Indonesia | 7.6 | 1.5 | 5.1 | 7.4 | -0.9% |
| United Arab Emirates | 1.1 | 1.6 | 2.9 | 3.9 | 52.5% |
| Malaysia | 2.8 | 2.8 | 4.9 | 3.9 | 11.7% |
| Australia | 2.7 | 3.0 | 4.5 | 3.4 | 8.0% |
| India | 0.2 | 0.1 | 0.7 | 2.9 | 143.8% |
| United Kingdom | N/A | N/A | 3.5 | 2.2 | -37.1% |
| Myanmar | N/A | 1.2 | 2.4 | 1.5 | 11.8% |
| Vietnam | 3.6 | 1.8 | 3.9 | 1.3 | -28.8% |
| Colombia | 0.9 | 0.8 | 1.3 | 1.1 | 6.9% |
| United States | 2.8 | 1.1 | 0.8 | 0.9 | -31.5% |
| South Korea | 5.1 | 6.0 | N/A | N/A | 17.6% |
| Others | 2.9 | 1.7 | 3.1 | 2.7 | -2.4% |
| Total | 50.7 | 30.7 | 69.6 | 49.6 | -0.7% |
Top Export Markets for Wire of Other Alloy Steel from Thailand in 2022:
- Taiwan (Chinese) (21.4K tons)
- Indonesia (4.5K tons)
- Malaysia (3.8K tons)
- United Arab Emirates (3.6K tons)
- Australia (2.7K tons)
- India (1.7K tons)
- United Kingdom (1.7K tons)
- Myanmar (1.4K tons)
- Colombia (1.0K tons)
- Vietnam (0.8K tons)
- United States (0.6K tons)
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