Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates - 2022
Contents:
- Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates (CIF) - 2022
- Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates (FOB) - 2022
- Imports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates
- Exports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates
Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates (CIF) - 2022
The average import price for stainless steel; flat-rolled products of width less than 600mms stood at $4,274 per ton in 2022, rising by 61% against the previous year. Overall, the import price saw a tangible increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
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 the UK ($12,939 per ton), while the price for South Africa ($1,081 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates (FOB) - 2022
In 2022, the average export price for stainless steel; flat-rolled products of width less than 600mms amounted to $1,194 per ton, falling by -4.5% against the previous year. Overall, the export price recorded a pronounced descent. The pace of growth appeared the most rapid in 2015 when the average export price increased by 46%. Over the period under review, the average export prices hit record highs at $2,544 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
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 Netherlands ($1,866 per ton), while the average price for exports to Pakistan ($297 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 Iran (+12.5%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates
In 2022, supplies from abroad of stainless steel; flat-rolled products of width less than 600mms decreased by -7.8% to 9.3K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +10.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 37%. As a result, imports attained the peak of 10K tons, and then declined in the following year.
In value terms, imports of stainless steel; flat-rolled products of width less than 600mms surged to $40M in 2022. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 69% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in the near future.
| Import of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.5 | 8.0 | 20.5 | 31.0 | 60.5% |
| India | 2.4 | 2.8 | 1.5 | 3.4 | 12.3% |
| Italy | 0.3 | 0.9 | 0.9 | 2.3 | 97.2% |
| Taiwan (Chinese) | 1.7 | 0.6 | 1.1 | 0.5 | -33.5% |
| Malaysia | 0.4 | 0.7 | 0.4 | 0.1 | -37.0% |
| Spain | 1.2 | 0.1 | N/A | 0.1 | -56.3% |
| Others | 3.1 | 2.8 | 2.3 | 2.3 | -9.5% |
| Total | 16.6 | 15.8 | 26.8 | 39.7 | 33.7% |
Top Suppliers of Stainless Steel; Flat-Rolled Products of Width Less than 600mm to the United Arab Emirates in 2022:
- China (7.0K tons)
- India (0.8K tons)
- Italy (0.7K tons)
- Taiwan (Chinese) (0.2K tons)
- Malaysia (0.1K tons)
- Spain (0.1K tons)
Exports of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates
In 2022, after three years of growth, there was significant decline in shipments abroad of stainless steel; flat-rolled products of width less than 600mms, when their volume decreased by -78.3% to 1.2K tons. Over the period under review, exports faced a sharp setback. The pace of growth appeared the most rapid in 2021 when exports increased by 50%. As a result, the exports reached the peak of 5.5K tons, and then reduced rapidly in the following year.
In value terms, exports of stainless steel; flat-rolled products of width less than 600mms dropped rapidly to $1.4M in 2022. Overall, exports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2021 when exports increased by 25%.
| Export of Stainless Steel; Flat-Rolled Products of Width Less than 600mm in the United Arab Emirates (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Oman | 787 | 457 | 543 | 968 | 7.1% |
| Lithuania | N/A | 113 | 85.3 | 139 | 10.9% |
| India | 2,560 | 2,467 | 4,794 | 120 | -63.9% |
| Kuwait | 946 | 507 | 151 | 27.4 | -69.3% |
| Jordan | 19.5 | N/A | N/A | 23.7 | 6.7% |
| Pakistan | 1.7 | 3.5 | 9.3 | 13.5 | 99.5% |
| Netherlands | 633 | 36.6 | 44.8 | 4.5 | -80.8% |
| Iran | 332 | 670 | 893 | N/A | 64.0% |
| Saudi Arabia | 1,043 | 604 | 23.1 | N/A | -85.1% |
| Others | 603 | 664 | 337 | 129 | -40.2% |
| Total | 6,926 | 5,520 | 6,880 | 1,425 | -41.0% |
Top Export Markets for Stainless Steel; Flat-Rolled Products of Width Less than 600mm from the United Arab Emirates in 2022:
- Oman (667.8 tons)
- India (231.6 tons)
- Lithuania (150.2 tons)
- Pakistan (45.5 tons)
- Kuwait (20.8 tons)
- Jordan (20.0 tons)
- Netherlands (2.4 tons)
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