Price for Stainless Steel in Ingots or Other Primary Forms in India - 2023
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in India (CIF) - 2023
- Price for Stainless Steel in Ingots or Other Primary Forms in India (FOB) - 2022
- Imports of Stainless Steel in Ingots or Other Primary Forms in India
- Exports of Stainless Steel in Ingots or Other Primary Forms in India
Price for Stainless Steel in Ingots or Other Primary Forms in India (CIF) - 2023
The average import price for stainless steel in ingots or other primary forms stood at $2,279 per ton in July 2023, waning by -4% against the previous month. In general, the import price saw a perceptible downturn. The pace of growth was the most pronounced in March 2023 when the average import price increased by 5.5% m-o-m. Over the period under review, average import prices reached the peak figure at $3,332 per ton in July 2022; however, from August 2022 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 Sweden ($8,423 per ton), while the price for Indonesia amounted to $2,013 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Sweden (+0.6%).
Price for Stainless Steel in Ingots or Other Primary Forms in India (FOB) - 2022
The average export price for stainless steel in ingots or other primary forms stood at $3,147 per ton in 2022, picking up by 63% against the previous year. Over the period under review, the export price recorded a buoyant expansion. The pace of growth appeared the most rapid in 2018 an increase of 227% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($6,287 per ton), while the average price for exports to Nepal ($763 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 the United Arab Emirates (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Stainless Steel in Ingots or Other Primary Forms in India
In 2022, imports of stainless steel in ingots or other primary forms into India soared to 247K tons, with an increase of 1,770% compared with 2021 figures. Overall, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of stainless steel in ingots or other primary forms surged to $669M in 2022. Over the period under review, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Stainless Steel in Ingots or Other Primary Forms in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 2.9 | N/A | N/A | 604 | 492.8% |
| Sweden | 32.9 | 19.4 | 42.0 | 52.7 | 17.0% |
| Italy | 5.6 | 3.3 | 1.6 | 2.2 | -26.8% |
| Vietnam | 4.8 | 3.5 | 4.5 | 2.0 | -25.3% |
| Others | 3.8 | 3.8 | 8.3 | 8.2 | 29.2% |
| Total | 50.1 | 30.0 | 56.4 | 669 | 137.2% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to India in 2022:
- Indonesia (235.9K tons)
- Sweden (7.6K tons)
- Vietnam (1.3K tons)
- Italy (0.6K tons)
Exports of Stainless Steel in Ingots or Other Primary Forms in India
Exports of stainless steel in ingots or other primary forms from India rose remarkably to 18K tons in 2022, growing by 8.9% on the previous year's figure. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 143%. The exports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, exports of stainless steel in ingots or other primary forms skyrocketed to $57M in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 121%. The exports peaked in 2022 and are likely to continue growth in the near future.
| Export of Stainless Steel in Ingots or Other Primary Forms in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 8.0 | 7.0 | 12.8 | 26.2 | 48.5% |
| Vietnam | 5.2 | 2.9 | 8.3 | 13.9 | 38.8% |
| Italy | 0.1 | 0.1 | 0.2 | 4.2 | 247.6% |
| Netherlands | 1.5 | 1.6 | 3.2 | 3.2 | 28.7% |
| Nepal | N/A | 0.1 | 3.3 | 2.0 | 347.2% |
| Portugal | N/A | 0.1 | 0.1 | 1.4 | 274.2% |
| Others | 3.2 | 2.8 | 4.2 | 6.5 | 26.6% |
| Total | 17.9 | 14.6 | 32.3 | 57.4 | 47.5% |
Top Export Markets for Stainless Steel in Ingots or Other Primary Forms from India in 2022:
- Taiwan (Chinese) (7.8K tons)
- Vietnam (4.4K tons)
- Nepal (2.6K tons)
- Italy (1.1K tons)
- Netherlands (0.9K tons)
- Portugal (0.5K tons)
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