Stainless Steel Wire Price in Kenya - 2022
Contents:
- Stainless Steel Wire Price in Kenya (CIF) - 2022
- Stainless Steel Wire Price in Kenya (FOB) - 2022
- Stainless Steel Wire Imports in Kenya
- Stainless Steel Wire Exports in Kenya
Stainless Steel Wire Price in Kenya (CIF) - 2022
In 2022, the average stainless steel wire import price amounted to $2,580 per ton, declining by -5.5% against the previous year. In general, the import price saw a perceptible decline. The pace of growth was the most pronounced in 2017 when the average import price increased by 91%. Over the period under review, average import prices attained the peak figure at $3,279 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($5,724 per ton), while the price for Turkey ($1,273 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Stainless Steel Wire Price in Kenya (FOB) - 2022
The average stainless steel wire export price stood at $9,099 per ton in 2022, shrinking by -54% against the previous year. In general, the export price, however, recorded a significant expansion. The growth pace was the most rapid in 2018 when the average export price increased by 655% against the previous year. Over the period under review, the average export prices reached the maximum at $19,768 per ton in 2021, and then dropped significantly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($14,643 per ton), while the average price for exports to South Sudan stood at $1,203 per ton.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+34.8%).
Stainless Steel Wire Imports in Kenya
In 2022, overseas purchases of stainless steel wire decreased by -9.2% to 235 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 73% against the previous year.
In value terms, stainless steel wire imports shrank to $606K in 2022. Over the period under review, imports, however, recorded a significant increase. The growth pace was the most rapid in 2020 when imports increased by 68% against the previous year.
| Import of Stainless Steel Wire in Kenya (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 269 | 237 | 355 | 333 | 7.4% |
| Netherlands | 3.7 | 0.1 | 211 | 198 | 276.8% |
| India | 19.8 | 79.8 | 67.4 | 63.2 | 47.2% |
| Turkey | 0.6 | 23.2 | 6.8 | 10.0 | 155.4% |
| South Korea | N/A | 103 | 0.3 | N/A | -99.7% |
| Others | 7.1 | 62.0 | 66.1 | 1.6 | -39.1% |
| Total | 300 | 505 | 706 | 606 | 26.4% |
Top Suppliers of Stainless Steel Wire to Kenya in 2022:
- China (152.4 tons)
- Netherlands (63.4 tons)
- India (11.1 tons)
- Turkey (7.9 tons)
Stainless Steel Wire Exports in Kenya
In 2022, shipments abroad of stainless steel wire was finally on the rise to reach 926 kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a precipitous decline.
In value terms, stainless steel wire exports surged to $8.4K in 2022. Overall, exports, however, recorded a precipitous contraction.
| Export of Stainless Steel Wire in Kenya (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Democratic Republic of the Congo | 60.7 | 5.1 | 4.1 | 8.3 | -48.5% |
| South Sudan | N/A | 7.0 | N/A | 0.1 | -88.0% |
| Others | 373 | N/A | 0.6 | N/A | -96.0% |
| Total | 434 | 12.1 | 4.8 | 8.4 | -73.2% |
Top Export Markets for Stainless Steel Wire from Kenya in 2022:
- Democratic Republic of the Congo (570.0 kg)
- South Sudan (63.0 kg)
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