Stainless Steel Wire Price in India - 2023
Contents:
- Stainless Steel Wire Price in India (FOB) - 2022
- Stainless Steel Wire Price in India (CIF) - 2022
- Stainless Steel Wire Exports in India
- Stainless Steel Wire Imports in India
Stainless Steel Wire Price in India (FOB) - 2022
The average stainless steel wire export price stood at $4,052 per ton in 2022, rising by 22% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 an increase of 26% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.
Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Mexico ($4,549 per ton) and Israel ($4,471 per ton), while the average price for exports to the Netherlands ($3,184 per ton) and Turkey ($3,339 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.
Stainless Steel Wire Price in India (CIF) - 2022
The average stainless steel wire import price stood at $8,316 per ton in 2022, approximately reflecting the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 72%. The import price peaked at $8,334 per ton in 2021, and then shrank modestly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($28,117 per ton), while the price for the United Arab Emirates ($1,902 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 States (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Stainless Steel Wire Exports in India
In 2022, the amount of stainless steel wire exported from India contracted to 123K tons, declining by -13% against 2021 figures. The total export volume increased at an average annual rate of +6.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 41% against the previous year. As a result, the exports attained the peak of 142K tons, and then dropped in the following year.
In value terms, stainless steel wire exports rose notably to $500M in 2022. Over the period under review, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 77% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Stainless Steel Wire in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 56.8 | 45.3 | 95.9 | 113 | 25.8% |
| Netherlands | 38.6 | 37.5 | 63.3 | 59.0 | 15.2% |
| Germany | 11.7 | 14.2 | 35.9 | 35.4 | 44.6% |
| France | 17.4 | 17.1 | 33.2 | 29.0 | 18.6% |
| Turkey | 17.5 | 22.2 | 30.9 | 28.9 | 18.2% |
| Italy | 11.4 | 13.7 | 28.5 | 28.7 | 36.0% |
| Russia | 21.6 | 18.5 | 25.9 | 28.2 | 9.3% |
| Brazil | 7.8 | 7.5 | 14.0 | 13.6 | 20.4% |
| United Kingdom | 7.6 | 6.4 | 14.3 | 12.7 | 18.7% |
| South Korea | 12.1 | 7.0 | 12.0 | 10.7 | -4.0% |
| Mexico | 6.6 | 4.7 | 7.0 | 10.3 | 16.0% |
| Israel | 6.3 | 6.0 | 9.0 | 10.2 | 17.4% |
| United Arab Emirates | 1.6 | 1.9 | 1.9 | 9.7 | 82.3% |
| Others | 74.4 | 64.7 | 99.0 | 110 | 13.9% |
| Total | 291 | 267 | 471 | 500 | 19.8% |
Top Export Markets for Stainless Steel Wire from India in 2022:
- United States (25.6K tons)
- Netherlands (18.5K tons)
- Turkey (8.7K tons)
- France (8.6K tons)
- Germany (8.2K tons)
- Italy (7.2K tons)
- Russia (7.0K tons)
- Brazil (3.1K tons)
- United Kingdom (3.0K tons)
- South Korea (2.6K tons)
- United Arab Emirates (2.5K tons)
- Israel (2.3K tons)
- Mexico (2.3K tons)
Stainless Steel Wire Imports in India
In 2022, purchases abroad of stainless steel wire was finally on the rise to reach 4.5K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a abrupt shrinkage.
In value terms, stainless steel wire imports rose slightly to $38M in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 44% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Stainless Steel Wire in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 13.1 | 9.0 | 15.5 | 13.7 | 1.5% |
| China | 10.3 | 7.2 | 5.0 | 7.2 | -11.3% |
| Sweden | 2.0 | 1.5 | 3.5 | 4.1 | 27.0% |
| Germany | 2.6 | 1.5 | 3.0 | 3.4 | 9.4% |
| United States | 2.3 | 1.4 | 2.2 | 2.6 | 4.2% |
| South Korea | 2.4 | 1.7 | 2.8 | 2.2 | -2.9% |
| United Arab Emirates | 0.1 | 0.1 | 0.2 | 0.4 | 58.7% |
| Others | 4.7 | 2.8 | 4.1 | 4.1 | -4.5% |
| Total | 37.4 | 25.2 | 36.3 | 37.6 | 0.2% |
Top Suppliers of Stainless Steel Wire to India in 2022:
- China (1639.4 tons)
- Japan (999.2 tons)
- Sweden (467.7 tons)
- South Korea (370.9 tons)
- Germany (249.3 tons)
- United Arab Emirates (211.8 tons)
- United States (90.9 tons)
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