Stainless Steel Wire Price in the UK - 2023
Contents:
- Stainless Steel Wire Price in the UK (CIF) - 2022
- Stainless Steel Wire Price in the UK (FOB) - 2022
- Stainless Steel Wire Imports in the UK
- Stainless Steel Wire Exports in the UK
Stainless Steel Wire Price in the UK (CIF) - 2022
The average stainless steel wire import price stood at $5,449 per ton in 2022, increasing by 28% against the previous year. In general, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $5,454 per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Belgium ($18,220 per ton), while the price for Spain ($2,064 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Stainless Steel Wire Price in the UK (FOB) - 2022
The average stainless steel wire export price stood at $11,522 per ton in 2022, picking up by 16% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, stainless steel wire export price increased by +58.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 37% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($21,854 per ton), while the average price for exports to the Czech Republic ($7,226 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 (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.
Stainless Steel Wire Imports in the UK
In 2022, imports of stainless steel wire into the UK contracted significantly to 14K tons, with a decrease of -29.9% on the year before. In general, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. As a result, imports reached the peak of 20K tons, and then shrank dramatically in the following year.
In value terms, stainless steel wire imports fell to $77M in 2022. The total import value increased at an average annual rate of +2.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. As a result, imports reached the peak of $86M, and then shrank in the following year.
| Import of Stainless Steel Wire in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 7.1 | 6.2 | 12.6 | 16.6 | 32.7% |
| China | 8.1 | 6.3 | 9.8 | 13.8 | 19.4% |
| South Korea | 2.9 | 2.1 | 2.8 | 8.7 | 44.2% |
| Czech Republic | 10.8 | 9.1 | 11.9 | 5.9 | -18.3% |
| Italy | 11.0 | 9.3 | 10.9 | 5.7 | -19.7% |
| Switzerland | 4.1 | 2.7 | 4.0 | 5.5 | 10.3% |
| Germany | 7.1 | 9.4 | 11.0 | 4.8 | -12.2% |
| Taiwan (Chinese) | 5.4 | 3.0 | 4.4 | 4.2 | -8.0% |
| Indonesia | 3.4 | 1.4 | 3.4 | 2.3 | -12.2% |
| Spain | 5.6 | 3.0 | 6.1 | 1.0 | -43.7% |
| Others | 6.5 | 6.1 | 8.9 | 8.3 | 8.5% |
| Total | 72.0 | 58.6 | 85.7 | 76.7 | 2.1% |
Top Suppliers of Stainless Steel Wire to the UK in 2022:
- India (3.8K tons)
- China (3.3K tons)
- Czech Republic (1.1K tons)
- South Korea (1.0K tons)
- Taiwan (Chinese) (0.9K tons)
- Italy (0.8K tons)
- Switzerland (0.8K tons)
- Indonesia (0.6K tons)
- Germany (0.5K tons)
- Spain (0.5K tons)
Stainless Steel Wire Exports in the UK
In 2022, approx. 2.7K tons of stainless steel wire were exported from the UK; increasing by 20% compared with 2021. The total export volume increased at an average annual rate of +4.0% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, stainless steel wire exports skyrocketed to $31M in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +17.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.2% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Stainless Steel Wire in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 2.1 | 2.7 | 3.4 | 6.1 | 42.7% |
| Italy | 1.5 | 1.0 | 1.5 | 2.8 | 23.1% |
| Ireland | 1.5 | 0.9 | 2.4 | 2.2 | 13.6% |
| United States | 1.4 | 0.8 | 1.2 | 1.8 | 8.7% |
| United Arab Emirates | 0.6 | 0.4 | 0.4 | 1.6 | 38.7% |
| France | 1.1 | 0.6 | 1.1 | 1.6 | 13.3% |
| Netherlands | 2.0 | 2.8 | 1.4 | 1.4 | -11.2% |
| Canada | 0.9 | 0.4 | 0.5 | 1.1 | 6.9% |
| Denmark | 0.4 | 0.5 | 0.9 | 1.1 | 40.1% |
| Poland | 0.4 | 0.4 | 0.4 | 1.0 | 35.7% |
| Czech Republic | N/A | 0.1 | 0.5 | 0.9 | 200.0% |
| Belgium | 0.4 | 0.5 | 0.7 | 0.7 | 20.5% |
| Nigeria | 0.1 | N/A | N/A | 0.6 | 81.7% |
| Others | 6.7 | 7.2 | 7.8 | 7.9 | 5.6% |
| Total | 19.2 | 18.2 | 22.2 | 30.8 | 17.1% |
Top Export Markets for Stainless Steel Wire from the UK in 2022:
- Germany (690.4 tons)
- Ireland (211.1 tons)
- Italy (210.0 tons)
- France (160.4 tons)
- United States (160.4 tons)
- Canada (133.4 tons)
- Denmark (132.6 tons)
- Czech Republic (120.5 tons)
- Poland (102.9 tons)
- Netherlands (76.1 tons)
- United Arab Emirates (71.4 tons)
- Belgium (66.9 tons)
- Nigeria (59.3 tons)
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