Stainless Steel Wire Price in Pakistan - 2023
Contents:
Stainless Steel Wire Price in Pakistan (CIF) - 2022
In 2022, the average stainless steel wire import price amounted to $979 per ton, shrinking by -24.4% against the previous year. In general, the import price continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2013 when the average import price increased by 31% against the previous year. As a result, import price reached the peak level of $1,455 per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($1,440 per ton), while the price for Japan ($809 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Stainless Steel Wire Imports in Pakistan
In 2022, imports of stainless steel wire into Pakistan skyrocketed to 7.5K tons, with an increase of 75% compared with the year before. Overall, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, stainless steel wire imports surged to $7.3M in 2022. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 69%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Stainless Steel Wire in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,924 | 2,405 | 4,000 | 6,212 | 47.8% |
| South Korea | 278 | 308 | 85.1 | 244 | -4.3% |
| Taiwan (Chinese) | 227 | 172 | 281 | 225 | -0.3% |
| Thailand | 78.8 | 136 | 162 | 218 | 40.4% |
| Japan | 50.8 | 41.5 | 125 | 110 | 29.4% |
| Others | 386 | 205 | 879 | 317 | -6.4% |
| Total | 2,945 | 3,267 | 5,533 | 7,324 | 35.5% |
Top Suppliers of Stainless Steel Wire to Pakistan in 2022:
- China (6.5K tons)
- Taiwan (Chinese) (0.3K tons)
- Thailand (0.2K tons)
- South Korea (0.2K tons)
- Japan (0.1K tons)
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