Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore - 2022
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore (FOB) - 2022
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore (FOB) - 2022
In 2022, the average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $11,606 per ton, increasing by 632% against the previous year. Over the period under review, the export price enjoyed buoyant growth. As a result, the export price attained the peak level and is likely to continue 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 China ($30,217 per ton), while the average price for exports to Indonesia ($663 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 China (+18.0%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore (CIF) - 2022
The average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $3,427 per ton in 2022, increasing by 4.1% against the previous year. In general, the import price, however, showed a deep downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by 82% against the previous year. The import price peaked at $9,532 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($31,727 per ton), while the price for Taiwan (Chinese) ($1,276 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+19.6%), while the prices for the other major suppliers experienced a decline.
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore
In 2022, approx. 41 tons of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s were exported from Singapore; shrinking by -95.7% against 2021. In general, exports recorded a precipitous contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 1,389% against the previous year. As a result, the exports reached the peak of 944 tons, and then declined remarkably in the following year.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s fell remarkably to $476K in 2022. Over the period under review, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 1,554% against the previous year. As a result, the exports attained the peak of $1.5M, and then dropped rapidly in the following year.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | N/A | N/A | N/A | 413 | 0% |
| China | N/A | 21.4 | N/A | 38.1 | 33.4% |
| Vietnam | 10.2 | 0.7 | 918 | 8.5 | -5.9% |
| Indonesia | 50.4 | 14.1 | 574 | 5.8 | -51.4% |
| Malaysia | 46.1 | 54.1 | 1.2 | 3.3 | -58.5% |
| Others | 12.8 | N/A | 3.0 | 7.8 | -15.2% |
| Total | 119 | 90.4 | 1,496 | 476 | 58.7% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from Singapore in 2022:
- New Zealand (27.2 tons)
- Indonesia (8.7 tons)
- Malaysia (2.6 tons)
- China (1.3 tons)
- Vietnam (1.2 tons)
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore
In 2022, the amount of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s imported into Singapore stood at 35 tons, increasing by 12% against 2021. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 135% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in the near future.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s soared to $121K in 2022. Overall, imports, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2021 with an increase of 50%.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.7 | 3.9 | 11.0 | 63.9 | 138.7% |
| Indonesia | 0.1 | 20.9 | N/A | 38.1 | 625.0% |
| United States | 22.1 | 3.6 | 63.3 | 16.8 | -8.7% |
| Taiwan (Chinese) | 2.4 | 2.4 | 11.3 | 0.6 | -37.0% |
| Japan | 43.1 | 2.5 | 0.5 | 0.5 | -77.4% |
| Thailand | N/A | N/A | 13.9 | 0.1 | -99.3% |
| Malaysia | 49.8 | 3.3 | N/A | N/A | -93.4% |
| United Kingdom | 4.3 | N/A | N/A | N/A | 0% |
| Others | 5.5 | 33.2 | 4.5 | 1.4 | -36.6% |
| Total | 132 | 69.9 | 105 | 121 | -2.9% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to Singapore in 2022:
- China (32.1 tons)
- United States (1.5 tons)
- Indonesia (1.2 tons)
- Taiwan (Chinese) (0.5 tons)
- Japan (0.1 tons)
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