Stainless Steel Wire Price in Myanmar - 2022
Contents:
- Stainless Steel Wire Price in Myanmar (CIF) - 2022
- Stainless Steel Wire Price in Myanmar (FOB) - 2022
- Stainless Steel Wire Imports in Myanmar
- Stainless Steel Wire Exports in Myanmar
Stainless Steel Wire Price in Myanmar (CIF) - 2022
The average stainless steel wire import price stood at $1,192 per ton in 2022, waning by -9.3% against the previous year. Over the period under review, the import price showed a deep slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by 233%. Over the period under review, average import prices attained the maximum at $5,968 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
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 South Korea ($97,463 per ton), while the price for the United Arab Emirates ($456 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+30.0%), while the prices for the other major suppliers experienced a decline.
Stainless Steel Wire Price in Myanmar (FOB) - 2022
In December 2022, the average stainless steel wire export price amounted to $1,659 per ton, surging by 1.7% against the previous month. Over the period under review, the export price, however, showed a significant decline. The most prominent rate of growth was recorded in September 2022 when the average export price increased by 2.7% month-to-month. The export price peaked at $232K per ton in January 2022; however, from February 2022 to December 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the United States.
From January 2022 to December 2022, the rate of growth in terms of prices for the United States amounted to -1.3% per month.
Stainless Steel Wire Imports in Myanmar
Stainless steel wire imports into Myanmar surged to 611 tons in 2022, growing by 64% on the previous year. In general, imports posted resilient growth. The pace of growth was the most pronounced in 2020 when imports increased by 122% against the previous year. As a result, imports attained the peak of 849 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, stainless steel wire imports surged to $729K in 2022. Overall, imports, however, recorded a abrupt curtailment.
| Import of Stainless Steel Wire in Myanmar (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 419 | 364 | 208 | 283 | -12.3% |
| Vietnam | 292 | 339 | 190 | 254 | -4.5% |
| India | 23.5 | 0.4 | 15.5 | 20.7 | -4.1% |
| Thailand | 1.8 | 9.2 | 11.9 | 15.9 | 106.7% |
| United Arab Emirates | 22.8 | 10.0 | 1.2 | 8.5 | -28.0% |
| Others | 145 | 244 | 64.2 | 147 | 0.5% |
| Total | 904 | 967 | 491 | 729 | -6.9% |
Top Suppliers of Stainless Steel Wire to Myanmar in 2022:
- Vietnam (335.5 tons)
- China (220.0 tons)
- Thailand (21.1 tons)
- United Arab Emirates (18.5 tons)
- India (12.7 tons)
Stainless Steel Wire Exports in Myanmar
In 2022, exports of stainless steel wire from Myanmar reached 1.1K tons, surging by 13% compared with the year before. Over the period under review, exports, however, showed a abrupt curtailment.
In value terms, stainless steel wire exports fell significantly to $254K in 2022. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 803% against the previous year. As a result, the exports reached the peak of $458K, and then contracted rapidly in the following year.
| Export of Stainless Steel Wire in Myanmar (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | CAGR, 2020-2021 | ||
| United States | 50.7 | 458 | 803.4% | ||
| Others | N/A | N/A | 0% | ||
| Total | 50.7 | 458 | 803.4% | ||
Top Export Markets for Stainless Steel Wire from Myanmar in 2022:
- United States (1.0K tons)
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