Price for Iron or Steel; Cast Articles in Saudi Arabia - 2021

Contents:

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

Price for Iron or Steel; Cast Articles in Saudi Arabia (CIF) - 2022

The average import price for iron or steel; cast articleses stood at $1,442 per ton in 2022, waning by -14.1% against the previous year. In general, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron or steel; cast articles import price increased by +13.6% against 2020 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 67%. Over the period under review, average import prices hit record highs at $1,679 per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($1,727 per ton), while the price for Jordan ($913 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 Arab Emirates (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

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

The average export price for iron or steel; cast articleses stood at $2,947 per ton in 2022, approximately equating the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 37%. Over the period under review, the average export prices hit record highs at $2,993 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($4,629 per ton), while the average price for exports to Kuwait ($2,349 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 Qatar (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel; Cast Articles in Saudi Arabia

In 2022, the amount of iron or steel; cast articleses imported into Saudi Arabia skyrocketed to 29K tons, jumping by 19% compared with the previous year's figure. In general, imports, however, continue to indicate a pronounced decline.

In value terms, iron or steel; cast articles imports rose modestly to $41M in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 6.8%. As a result, imports reached the peak of $42M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

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

1. India (9.4K tons)
2. China (7.3K tons)
3. Turkey (2.9K tons)
4. Spain (2.7K tons)
5. United Arab Emirates (1.8K tons)
6. Jordan (1.5K tons)
7. Thailand (1.5K tons)

Exports of Iron or Steel; Cast Articles in Saudi Arabia

In 2022, approx. 1.5K tons of iron or steel; cast articleses were exported from Saudi Arabia; growing by 361% compared with the previous year. Overall, exports, however, recorded a abrupt shrinkage.

In value terms, iron or steel; cast articles exports soared to $4.3M in 2022. In general, exports, however, recorded a perceptible decline.

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

1. Kuwait (977.2 tons)
2. Bahrain (151.7 tons)
3. United Arab Emirates (147.6 tons)
4. Jordan (120.9 tons)
5. Netherlands (46.1 tons)

Source: IndexBox Market Intelligence Platform