Price for Iron or Steel; Cast Articles in the United States - 2023
Contents:
- Price for Iron or Steel; Cast Articles in the United States (CIF) - 2023
- Price for Iron or Steel; Cast Articles in the United States (FOB) - 2022
- Imports of Iron or Steel; Cast Articles in the United States
- Exports of Iron or Steel; Cast Articles in the United States
Price for Iron or Steel; Cast Articles in the United States (CIF) - 2023
In July 2023, the average import price for iron or steel; cast articleses amounted to $2,591 per ton, shrinking by -6.9% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2022 when the average import price increased by 11% month-to-month. Over the period under review, average import prices attained the maximum at $2,812 per ton in May 2023; however, from June 2023 to July 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Canada ($4,376 per ton), while the price for India ($1,890 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 Mexico (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron or Steel; Cast Articles in the United States (FOB) - 2022
The average export price for iron or steel; cast articleses stood at $5,009 per ton in 2022, surging by 17% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the average export price increased by 32%. The export price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($11,065 per ton), while the average price for exports to Belgium ($3,515 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 China (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron or Steel; Cast Articles in the United States
In 2022, imports of iron or steel; cast articleses into the United States soared to 309K tons, increasing by 30% on 2021 figures. Overall, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +7.3% 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 +53.0% 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 skyrocketed to $730M in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +10.2% 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 +89.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Iron or Steel; Cast Articles in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 148 | 121 | 189 | 299 | 26.4% |
| China | 215 | 138 | 159 | 236 | 3.2% |
| Canada | 49.5 | 38.4 | 40.3 | 34.4 | -11.4% |
| Mexico | 50.6 | 22.4 | 22.6 | 27.3 | -18.6% |
| Germany | 12.1 | 8.0 | 14.7 | 18.2 | 14.6% |
| Spain | 9.1 | 6.9 | 10.5 | 16.0 | 20.7% |
| Others | 62.2 | 50.5 | 73.1 | 99.4 | 16.9% |
| Total | 546 | 385 | 509 | 730 | 10.2% |
Top Suppliers of Iron or Steel; Cast Articles to the United States in 2022:
- India (180.4K tons)
- China (80.2K tons)
- Mexico (9.7K tons)
- Spain (7.2K tons)
- Canada (7.1K tons)
- Germany (6.4K tons)
Exports of Iron or Steel; Cast Articles in the United States
In 2022, the amount of iron or steel; cast articleses exported from the United States contracted to 52K tons, with a decrease of -6.9% compared with 2021 figures. Overall, exports showed a perceptible reduction. The pace of growth was the most pronounced in 2021 with an increase of 33%.
In value terms, iron or steel; cast articles exports rose remarkably to $262M in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 18%.
| Export of Iron or Steel; Cast Articles in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 89.1 | 70.9 | 90.4 | 97.5 | 3.0% |
| Mexico | 65.0 | 42.4 | 63.1 | 63.6 | -0.7% |
| Germany | 6.4 | 6.8 | 6.5 | 8.3 | 9.1% |
| Mali | N/A | 3.7 | 4.1 | 5.7 | 24.1% |
| United Kingdom | 8.5 | 7.2 | 5.0 | 5.7 | -12.5% |
| Dominican Republic | 2.3 | 2.0 | 3.8 | 5.6 | 34.5% |
| Belgium | 5.2 | 2.5 | 3.4 | 3.6 | -11.5% |
| Others | 92.2 | 68.1 | 64.5 | 72.5 | -7.7% |
| Total | 269 | 204 | 241 | 262 | -0.9% |
Top Export Markets for Iron or Steel; Cast Articles from the United States in 2022:
- Canada (23.8K tons)
- Mexico (15.3K tons)
- Germany (2.1K tons)
- Mali (1.5K tons)
- Dominican Republic (1.3K tons)
- United Kingdom (1.2K tons)
- Belgium (1.0K tons)
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