Price for Iron or Steel; Cast Articles in Australia - 2023

Contents:

1. Price for Iron or Steel; Cast Articles in Australia (CIF) - 2023
2. Price for Iron or Steel; Cast Articles in Australia (FOB) - 2022
3. Imports of Iron or Steel; Cast Articles in Australia
4. Exports of Iron or Steel; Cast Articles in Australia

Price for Iron or Steel; Cast Articles in Australia (CIF) - 2023

The average import price for iron or steel; cast articleses stood at $1,690 per ton in July 2023, with a decrease of -30.4% against the previous month. In general, the import price continues to indicate a mild downturn. The pace of growth was the most pronounced in February 2023 when the average import price increased by 55% m-o-m. As a result, import price attained the peak level of $2,765 per ton. From March 2023 to July 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was China ($2,793 per ton), while the price for India ($1,420 per ton) was amongst the lowest.

From July 2022 to July 2023, 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.

Price for Iron or Steel; Cast Articles in Australia (FOB) - 2022

In 2022, the average export price for iron or steel; cast articleses amounted to $3,243 per ton, increasing by 19% against the previous year. In general, the export price continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2018 an increase of 32%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($10,647 per ton), while the average price for exports to Papua New Guinea ($1,250 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 Indonesia (+8.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel; Cast Articles in Australia

In 2022, the amount of iron or steel; cast articleses imported into Australia surged to 135K tons, increasing by 27% against the year before. Overall, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +8.1% 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 +61.8% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel; cast articles imports surged to $224M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +14.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37%. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Iron or Steel; Cast Articles to Australia in 2022:

1. Thailand (50.4K tons)
2. India (47.2K tons)
3. China (18.3K tons)

Exports of Iron or Steel; Cast Articles in Australia

In 2022, shipments abroad of iron or steel; cast articleses was finally on the rise to reach 7.5K tons after two years of decline. Over the period under review, exports saw buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel; cast articles exports skyrocketed to $24M in 2022. Overall, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Iron or Steel; Cast Articles from Australia in 2022:

1. Papua New Guinea (2.3K tons)
2. Djibouti (0.5K tons)
3. Indonesia (0.1K tons)
4. United States (0.1K tons)
5. New Zealand (0.1K tons)

Source: IndexBox Market Intelligence Platform