Sri Lanka - Articles Of Iron Or Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Steel and Iron Articles in Sri Lanka - 2021
Contents:
- Price for Steel and Iron Articles in Sri Lanka (CIF) - 2022
- Price for Steel and Iron Articles in Sri Lanka (FOB) - 2022
- Imports of Steel and Iron Articles in Sri Lanka
- Exports of Steel and Iron Articles in Sri Lanka
Price for Steel and Iron Articles in Sri Lanka (CIF) - 2022
The average steel and iron articles import price stood at $3,739 per ton in 2022, growing by 14% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 25% against the previous year. As a result, import price reached the peak level of $4,919 per ton. From 2017 to 2022, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($3,803 per ton), while the price for China ($2,907 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel and Iron Articles in Sri Lanka (FOB) - 2022
The average steel and iron articles export price stood at $1,979 per ton in 2022, reducing by -6.4% against the previous year. Overall, the export price saw a abrupt contraction. The growth pace was the most rapid in 2018 an increase of 54%. As a result, the export price attained the peak level of $8,368 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($6,354 per ton), while the average price for exports to Thailand ($418 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 States (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel and Iron Articles in Sri Lanka
Steel and iron articles imports into Sri Lanka contracted significantly to 13K tons in 2022, declining by -20.6% on the previous year's figure. Overall, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +7.0% 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 +24.6% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 57%. As a result, imports reached the peak of 17K tons, and then fell sharply in the following year.
In value terms, steel and iron articles imports reduced to $50M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +17.6% 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 +62.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 61% against the previous year. As a result, imports reached the peak of $55M, and then shrank in the following year.
| Import of Steel and Iron Articles in Sri Lanka (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 12.9 | 17.8 | 38.2 | 33.1 | 36.9% |
| India | 4.1 | 3.8 | 4.1 | 3.5 | -5.1% |
| Others | 13.7 | 12.5 | 12.6 | 13.2 | -1.2% |
| Total | 30.7 | 34.1 | 54.8 | 49.8 | 17.5% |
Top Suppliers of Steel and Iron Articles to Sri Lanka in 2022:
- China (11.4K tons)
- India (0.9K tons)
Exports of Steel and Iron Articles in Sri Lanka
In 2022, the amount of articles of iron or steel exported from Sri Lanka dropped rapidly to 1.8K tons, with a decrease of -15.3% on 2021 figures. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 20% against the previous year. As a result, the exports reached the peak of 2.1K tons, and then reduced notably in the following year.
In value terms, steel and iron articles exports dropped rapidly to $3.5M in 2022. Over the period under review, exports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 3.1% against the previous year.
| Export of Steel and Iron Articles in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 1,291 | 996 | 1,574 | 1,359 | 1.7% |
| Maldives | 1,135 | 419 | 211 | 352 | -32.3% |
| Indonesia | 138 | 223 | 239 | 327 | 33.3% |
| Japan | 216 | 187 | 578 | 207 | -1.4% |
| United States | 524 | 52.0 | 39.2 | 192 | -28.4% |
| China | 110 | 1,019 | 200 | 172 | 16.1% |
| India | 177 | 620 | 108 | 138 | -8.0% |
| Malaysia | 39.7 | 64.0 | 301 | 129 | 48.1% |
| Australia | 174 | 62.6 | 91.1 | 72.4 | -25.3% |
| Thailand | 21.1 | 10.7 | 55.3 | 42.3 | 26.1% |
| Others | 763 | 599 | 988 | 489 | -13.8% |
| Total | 4,588 | 4,252 | 4,385 | 3,479 | -8.8% |
Top Export Markets for Steel and Iron Articles from Sri Lanka in 2022:
- Italy (506.3 tons)
- Indonesia (331.1 tons)
- Malaysia (256.9 tons)
- China (144.7 tons)
- Thailand (101.3 tons)
- Japan (93.4 tons)
- United States (58.3 tons)
- India (57.7 tons)
- Maldives (55.4 tons)
- Australia (27.3 tons)
This report provides an in-depth analysis of the market for steel and iron articles in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25992945 - Articles of iron or steel, n.e.s.
- Prodcom 25992931 - Iron or steel ladders and steps (excluding forged or stamped)
- Prodcom 25992933 - Iron or steel pallets and similar platforms for handling goods
- Prodcom 25992935 - Iron or steel reels for cables, piping and the like
- Prodcom 25992937 - Iron or steel non-mechanical ventilators, guttering, hooks and similar articles used in the building industry (excluding forged or stamped)
Country coverage:
- Sri Lanka
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Sri Lanka
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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