Price for Wire of Other Alloy Steel in Vietnam - 2022
Contents:
- Price for Wire of Other Alloy Steel in Vietnam (FOB) - 2022
- Price for Wire of Other Alloy Steel in Vietnam (CIF) - 2022
- Exports of Wire of Other Alloy Steel in Vietnam
- Imports of Wire of Other Alloy Steel in Vietnam
Price for Wire of Other Alloy Steel in Vietnam (FOB) - 2022
In 2022, the average export price for wire of other alloy steels amounted to $1,840 per ton, rising by 15% against the previous year. In general, the export price saw a resilient increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 58% against the previous year. Over the period under review, the average export prices reached the peak figure at $1,998 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($1,877 per ton), while the average price for exports to Myanmar ($774 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 Mexico (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Wire of Other Alloy Steel in Vietnam (CIF) - 2022
The average import price for wire of other alloy steels stood at $1,965 per ton in 2022, surging by 22% against the previous year. In general, the import price showed strong growth. The growth pace was the most rapid in 2018 when the average import price increased by 62% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Thailand ($2,143 per ton) and South Korea ($2,138 per ton), while the price for Malaysia ($1,828 per ton) and China ($1,857 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Wire of Other Alloy Steel in Vietnam
In 2022, exports of wire of other alloy steels from Vietnam fell to 52K tons, with a decrease of -6.7% compared with the previous year's figure. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 98% against the previous year. As a result, the exports attained the peak of 55K tons, and then contracted in the following year.
In value terms, wire of other alloy steel exports rose markedly to $95M in 2022. In general, exports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of 68%. The exports peaked in 2022 and are likely to continue growth in years to come.
| Export of Wire of Other Alloy Steel in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 12.5 | 7.7 | 16.4 | 18.1 | 13.1% |
| Cambodia | 10.9 | 16.4 | 20.0 | 15.9 | 13.4% |
| Japan | 7.3 | 5.6 | 6.8 | 11.1 | 15.0% |
| Taiwan (Chinese) | 2.1 | 1.0 | 4.9 | 9.4 | 64.8% |
| Malaysia | 2.3 | 3.2 | 4.8 | 5.2 | 31.2% |
| Mexico | 2.7 | 2.3 | 3.5 | 4.4 | 17.7% |
| Germany | 1.0 | 2.6 | 4.6 | 4.1 | 60.1% |
| Thailand | 1.3 | 0.7 | 2.1 | 3.4 | 37.8% |
| Australia | 1.6 | 2.0 | 3.5 | 2.9 | 21.9% |
| India | 4.5 | 2.7 | 4.7 | 2.4 | -18.9% |
| Russia | 1.9 | 1.3 | 2.2 | 2.3 | 6.6% |
| South Korea | 0.1 | 0.3 | 0.2 | 2.1 | 175.9% |
| Myanmar | 0.1 | 0.2 | 0.3 | 0.9 | 108.0% |
| Others | 10.0 | 6.7 | 15.0 | 12.9 | 8.9% |
| Total | 58.2 | 52.7 | 88.8 | 94.9 | 17.7% |
Top Export Markets for Wire of Other Alloy Steel from Vietnam in 2022:
- United States (9.6K tons)
- Cambodia (8.6K tons)
- Japan (5.9K tons)
- Taiwan (Chinese) (5.0K tons)
- Malaysia (2.8K tons)
- Mexico (2.3K tons)
- Germany (2.2K tons)
- Thailand (1.8K tons)
- Australia (1.5K tons)
- India (1.3K tons)
- Russia (1.2K tons)
- Myanmar (1.1K tons)
- South Korea (1.1K tons)
Imports of Wire of Other Alloy Steel in Vietnam
In 2022, approx. 41K tons of wire of other alloy steels were imported into Vietnam; waning by -27.6% compared with the previous year's figure. In general, imports faced a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 12%.
In value terms, wire of other alloy steel imports contracted to $81M in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 40% against the previous year. As a result, imports reached the peak of $92M, and then shrank in the following year.
| Import of Wire of Other Alloy Steel in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 45.3 | 39.9 | 54.9 | 44.0 | -1.0% |
| South Korea | 16.4 | 12.5 | 18.6 | 17.5 | 2.2% |
| Taiwan (Chinese) | 5.9 | 5.2 | 7.3 | 9.9 | 18.8% |
| Japan | 4.9 | 3.1 | 5.0 | 4.8 | -0.7% |
| Thailand | 3.2 | 1.9 | 4.1 | 1.9 | -16.0% |
| Malaysia | 0.6 | 1.5 | 0.9 | 1.2 | 26.0% |
| Others | 1.2 | 1.4 | 1.2 | 2.0 | 18.6% |
| Total | 77.4 | 65.5 | 92.0 | 81.3 | 1.7% |
Top Suppliers of Wire of Other Alloy Steel to Vietnam in 2022:
- China (23.7K tons)
- South Korea (8.2K tons)
- Taiwan (Chinese) (4.8K tons)
- Japan (2.3K tons)
- Thailand (0.9K tons)
- Malaysia (0.7K tons)
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