Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India - 2023
Contents:
- Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India (FOB) - 2023
- Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India (CIF) - 2022
- Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India
- Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India
Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India (FOB) - 2023
In July 2023, the average export price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses amounted to $584 per ton, with a decrease of -5.1% against the previous month. Overall, the export price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in January 2023 an increase of 6.6% month-to-month. The export price peaked at $875 per ton in November 2022; however, from December 2022 to July 2023, the export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In July 2023, the countries with the highest prices were Taiwan (Chinese) ($628 per ton) and Bangladesh ($607 per ton), while the average price for exports to Nepal ($573 per ton) and South Korea ($597 per ton) were amongst the lowest.
From November 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (-0.3%), while the prices for the other major destinations experienced a decline.
Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India (CIF) - 2022
In 2022, the average import price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses amounted to $1,075 per ton, increasing by 29% against the previous year. Overall, import price indicated a notable expansion 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, import price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses increased by +58.7% against 2020 indices. As a result, import price reached 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 ($1,385 per ton), while the price for Canada ($663 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 (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India
In 2022, overseas shipments of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses decreased by -50.6% to 459K tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 138% against the previous year. As a result, the exports reached the peak of 929K tons, and then declined remarkably in the following year.
In value terms, exports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses contracted rapidly to $359M in 2022. Over the period under review, exports, however, showed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 260% against the previous year. As a result, the exports reached the peak of $642M, and then dropped significantly in the following year.
| Export of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 8.5 | N/A | 45.6 | 81.1 | 112.1% |
| Nepal | 112 | 92.0 | 144 | 54.7 | -21.2% |
| Belgium | N/A | N/A | 1.1 | 31.8 | 2790.9% |
| Spain | N/A | N/A | 6.0 | 31.5 | 425.0% |
| Bangladesh | 7.8 | 10.0 | 16.4 | 26.0 | 49.4% |
| Romania | N/A | N/A | N/A | 15.0 | 0% |
| Taiwan (Chinese) | 6.6 | 9.3 | 136 | 13.6 | 27.3% |
| Sri Lanka | 8.4 | 6.9 | 14.6 | 13.1 | 16.0% |
| Israel | N/A | N/A | 10.2 | 12.1 | 18.6% |
| China | N/A | N/A | 10.1 | 11.7 | 15.8% |
| United Arab Emirates | 1.1 | 2.8 | 12.9 | 9.7 | 106.6% |
| South Korea | N/A | N/A | 51.1 | 8.2 | -84.0% |
| United Kingdom | N/A | N/A | N/A | 7.6 | 0% |
| Others | 10.0 | 57.4 | 193 | 42.6 | 62.1% |
| Total | 155 | 179 | 642 | 359 | 32.3% |
Top Export Markets for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils from India in 2022:
- United States (100.7K tons)
- Nepal (77.3K tons)
- Belgium (37.4K tons)
- Spain (36.5K tons)
- Bangladesh (32.0K tons)
- Romania (19.7K tons)
- Taiwan (Chinese) (17.6K tons)
- Israel (17.6K tons)
- Sri Lanka (16.6K tons)
- China (15.3K tons)
- United Arab Emirates (12.7K tons)
- South Korea (11.1K tons)
- United Kingdom (10.7K tons)
Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India
In 2022, imports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses into India declined remarkably to 24K tons, waning by -35.1% compared with the previous year. In general, imports showed a precipitous curtailment. The growth pace was the most rapid in 2021 with an increase of 89%.
In value terms, imports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses contracted significantly to $26M in 2022. Overall, imports saw a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of 132%.
| Import of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 24.3 | 5.0 | 12.1 | 7.8 | -31.5% |
| Japan | 1.1 | 1.1 | 7.2 | 6.8 | 83.5% |
| United Arab Emirates | 0.1 | 0.6 | 2.4 | 4.0 | 242.0% |
| Germany | 2.5 | 1.7 | 3.8 | 2.8 | 3.8% |
| China | 8.2 | 4.3 | 3.7 | 2.1 | -36.5% |
| Canada | 0.8 | 0.2 | 0.7 | 1.1 | 11.2% |
| Mauritius | N/A | N/A | N/A | 0.5 | 0% |
| Others | 2.8 | 0.4 | 0.7 | 0.6 | -40.2% |
| Total | 39.8 | 13.2 | 30.6 | 25.6 | -13.7% |
Top Suppliers of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils to India in 2022:
- South Korea (6.6K tons)
- Japan (5.2K tons)
- United Arab Emirates (5.1K tons)
- Germany (2.1K tons)
- China (1.8K tons)
- Canada (1.7K tons)
- Mauritius (0.5K tons)
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