Price for Wire of Other Alloy Steel in the UK - 2023
Contents:
- Price for Wire of Other Alloy Steel in the UK (CIF) - 2023
- Price for Wire of Other Alloy Steel in the UK (FOB) - 2022
- Imports of Wire of Other Alloy Steel in the UK
- Exports of Wire of Other Alloy Steel in the UK
Price for Wire of Other Alloy Steel in the UK (CIF) - 2023
The average import price for wire of other alloy steels stood at $1,661 per ton in June 2023, with a decrease of -3.7% against the previous month. Over the period from November 2022 to June 2023, it increased at an average monthly rate of +5.1%. The pace of growth was the most pronounced in December 2022 an increase of 51% m-o-m. The import price peaked at $2,006 per ton in March 2023; however, from April 2023 to June 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Italy ($2,797 per ton), while the price for China ($1,119 per ton) was amongst the lowest.
From November 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Wire of Other Alloy Steel in the UK (FOB) - 2022
The average export price for wire of other alloy steels stood at $2,447 per ton in 2022, with a decrease of -41.5% against the previous year. Over the period under review, the export price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 117% against the previous year. Over the period under review, the average export prices attained the peak figure at $7,711 per ton in 2020; however, from 2021 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 Switzerland ($15,014 per ton), while the average price for exports to Italy ($1,744 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 the Netherlands (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Wire of Other Alloy Steel in the UK
Wire of other alloy steel imports into the UK plummeted to 51K tons in 2022, with a decrease of -17.9% on the previous year's figure. Over the period under review, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 160%. As a result, imports reached the peak of 62K tons, and then contracted dramatically in the following year.
In value terms, wire of other alloy steel imports expanded remarkably to $82M in 2022. Overall, imports, however, saw significant growth. The pace of growth was the most pronounced in 2021 with an increase of 83%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Wire of Other Alloy Steel in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 12.3 | 10.6 | 15.7 | 18.6 | 14.8% |
| Turkey | 5.7 | 12.1 | 23.3 | 18.4 | 47.8% |
| Italy | 2.1 | 4.3 | 4.5 | 8.8 | 61.2% |
| Czech Republic | 6.3 | 2.4 | 9.1 | 8.0 | 8.3% |
| Luxembourg | 0.6 | 0.5 | 4.9 | 5.0 | 102.7% |
| Germany | 1.0 | 2.3 | 3.7 | 4.9 | 69.8% |
| Malaysia | 5.3 | 2.6 | 3.1 | 3.9 | -9.7% |
| Thailand | N/A | N/A | 6.8 | 0.6 | -91.2% |
| Others | 11.1 | 7.8 | 6.6 | 13.9 | 7.8% |
| Total | 44.3 | 42.6 | 77.8 | 82.1 | 22.8% |
Top Suppliers of Wire of Other Alloy Steel to the UK in 2022:
- China (13.9K tons)
- Turkey (13.4K tons)
- Czech Republic (5.5K tons)
- Italy (5.3K tons)
- Luxembourg (2.5K tons)
- Malaysia (2.2K tons)
- Germany (1.8K tons)
- Thailand (0.4K tons)
Exports of Wire of Other Alloy Steel in the UK
In 2022, approx. 8.8K tons of wire of other alloy steels were exported from the UK; remaining constant against 2021. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 249%. As a result, the exports attained the peak of 8.8K tons, leveling off in the following year.
In value terms, wire of other alloy steel exports shrank notably to $21M in 2022. Over the period under review, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 90%. As a result, the exports reached the peak of $37M, and then contracted notably in the following year.
| Export of Wire of Other Alloy Steel in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 0.9 | 0.6 | 6.3 | 8.6 | 112.2% |
| France | 1.8 | 0.7 | 2.3 | 2.8 | 15.9% |
| Poland | 0.3 | 0.2 | 2.2 | 2.4 | 100.0% |
| Spain | N/A | N/A | 1.5 | 1.3 | -13.3% |
| Sweden | 0.8 | 0.1 | 0.6 | 1.1 | 11.2% |
| Ireland | 1.1 | 0.9 | 1.3 | 1.1 | 0.0% |
| China | 0.5 | 0.9 | 0.6 | 0.5 | 0.0% |
| Turkey | 0.2 | 0.1 | 0.3 | 0.3 | 14.5% |
| Netherlands | 0.4 | 0.1 | 2.2 | 0.3 | -9.1% |
| Italy | 0.2 | 0.2 | 0.4 | 0.3 | 14.5% |
| Switzerland | 5.5 | 4.4 | N/A | N/A | -20.0% |
| Others | 3.6 | 11.2 | 19.2 | 2.7 | -9.1% |
| Total | 15.4 | 19.5 | 37.0 | 21.4 | 11.6% |
Top Export Markets for Wire of Other Alloy Steel from the UK in 2022:
- Germany (4000.5 tons)
- France (1318.9 tons)
- Poland (941.0 tons)
- Spain (641.6 tons)
- Ireland (484.2 tons)
- Sweden (400.8 tons)
- Italy (194.7 tons)
- Turkey (194.5 tons)
- Netherlands (104.7 tons)
- China (98.7 tons)
- Switzerland (0.9 tons)
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