Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam - 2022
Contents:
- Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam (CIF) - 2022
- Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam (FOB) - 2022
- Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam
- Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam
Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam (CIF) - 2022
In December 2022, the average import price for stainless steel bars and rods, angles, shapes and sectionses amounted to $6,015 per ton, therefore, remained relatively stable against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.3%. The pace of growth was the most pronounced in January 2022 an increase of 33% month-to-month. Over the period under review, average import prices hit record highs at $6,096 per ton in November 2022, and then dropped in the following month.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the countries with the highest prices were Germany ($6,105 per ton) and the United States ($6,081 per ton), while the price for Austria ($5,879 per ton) and South Korea ($5,999 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam (FOB) - 2022
The average export price for stainless steel bars and rods, angles, shapes and sectionses stood at $5,881 per ton in December 2022, approximately equating the previous month. Over the last twelve months, it increased at an average monthly rate of +1.6%. The pace of growth appeared the most rapid in January 2022 when the average export price increased by 20% m-o-m. Over the period under review, the average export prices reached the peak figure at $5,992 per ton in June 2022; however, from July 2022 to December 2022, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major external markets. In December 2022, the highest price was recorded for prices to Japan ($6,466 per ton) and the United States ($6,454 per ton), while the average price for exports to Indonesia ($5,715 per ton) and the Philippines ($5,715 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam
In 2022, approx. 28K tons of stainless steel bars and rods, angles, shapes and sectionses were imported into Vietnam; almost unchanged from 2021 figures. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 15% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of stainless steel bars and rods, angles, shapes and sectionses skyrocketed to $169M in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +16.4% 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 +76.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 35%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 38.6 | 38.1 | 48.1 | 63.1 | 17.8% |
| China | 18.1 | 17.7 | 29.1 | 34.0 | 23.4% |
| South Korea | 15.2 | 14.8 | 27.9 | 32.2 | 28.4% |
| Taiwan (Chinese) | 3.5 | 3.2 | 6.5 | 9.2 | 38.0% |
| United States | 3.7 | 1.8 | 2.5 | 7.6 | 27.1% |
| India | 15.0 | 11.3 | 4.8 | 7.1 | -22.1% |
| Austria | 6.1 | 3.0 | 1.7 | 4.4 | -10.3% |
| Others | 7.0 | 5.8 | 8.2 | 11.4 | 17.7% |
| Total | 107 | 95.7 | 129 | 169 | 16.5% |
Top Suppliers of Stainless Steel Bars and Rods, Angles, Shapes and Sections to Vietnam in 2022:
- Japan (10.4K tons)
- China (5.6K tons)
- South Korea (5.3K tons)
- Taiwan (Chinese) (1.5K tons)
- United States (1.3K tons)
- India (1.2K tons)
- Austria (0.7K tons)
Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam
In 2022, overseas shipments of stainless steel bars and rods, angles, shapes and sectionses decreased by -20.7% to 2.4K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +6.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when exports increased by 29% against the previous year.
In value terms, exports of stainless steel bars and rods, angles, shapes and sectionses shrank to $14M in 2022. The total export value increased at an average annual rate of +9.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 30%. As a result, the exports reached the peak of $15M, and then fell in the following year.
| Export of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 4.6 | 5.7 | 6.7 | 5.5 | 6.1% |
| South Korea | 0.9 | 1.2 | 1.7 | 2.7 | 44.2% |
| Philippines | 1.2 | 1.0 | 1.3 | 1.5 | 7.7% |
| Japan | 1.2 | 0.9 | 1.2 | 1.2 | 0.0% |
| United States | 0.7 | 0.5 | 0.7 | 0.6 | -5.0% |
| Lao People's Democratic Republic | 0.2 | 0.2 | 0.3 | 0.4 | 26.0% |
| Indonesia | 0.3 | 0.2 | 0.2 | 0.3 | 0.0% |
| Slovenia | N/A | N/A | 1.0 | N/A | 0% |
| Others | 1.3 | 1.6 | 1.9 | 1.3 | 0.0% |
| Total | 10.3 | 11.5 | 15.0 | 13.7 | 10.0% |
Top Export Markets for Stainless Steel Bars and Rods, Angles, Shapes and Sections from Vietnam in 2022:
- Thailand (958.0 tons)
- South Korea (464.2 tons)
- Philippines (264.7 tons)
- Japan (198.9 tons)
- United States (104.7 tons)
- Lao People's Democratic Republic (65.2 tons)
- Indonesia (60.5 tons)
- Slovenia (0.3 tons)
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