Stainless Steel Wire Price in Kuwait - 2022
Contents:
- Stainless Steel Wire Price in Kuwait (CIF) - 2022
- Stainless Steel Wire Price in Kuwait (FOB) - 2022
- Stainless Steel Wire Imports in Kuwait
- Stainless Steel Wire Exports in Kuwait
Stainless Steel Wire Price in Kuwait (CIF) - 2022
The average stainless steel wire import price stood at $5,644 per ton in 2022, with an increase of 48% against the previous year. In general, the import price posted resilient growth. The pace of growth appeared the most rapid in 2021 an increase of 62% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in years to come.
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 the United States ($6,863 per ton), while the price for India ($1,913 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Stainless Steel Wire Price in Kuwait (FOB) - 2022
The average stainless steel wire export price stood at $6,589 per ton in 2022, approximately reflecting the previous year. In general, the export price continues to indicate a resilient expansion. The growth pace was the most rapid in 2019 an increase of 180%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($6,589 per ton), while the average price for exports to Egypt amounted to $6,589 per ton.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+23.3%), while the prices for the other major destinations experienced mixed trend patterns.
Stainless Steel Wire Imports in Kuwait
In 2022, imports of stainless steel wire into Kuwait fell dramatically to 158 tons, waning by -85.4% against the previous year's figure. Overall, imports faced a sharp slump. The smallest decline of -5.2% was in 2021.
In value terms, stainless steel wire imports dropped significantly to $894K in 2022. In general, imports showed a sharp curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 54%.
| Import of Stainless Steel Wire in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 14.9 | 65.3 | 68.3 | 470 | 216.0% |
| United Kingdom | 308 | 982 | 981 | 94.8 | -32.5% |
| United Arab Emirates | 283 | 125 | 605 | 90.1 | -31.7% |
| Italy | 2.3 | 27.8 | 295 | 84.5 | 232.4% |
| United States | 28.1 | 39.3 | 108 | 59.3 | 28.3% |
| India | 244 | 112 | 193 | 23.7 | -54.0% |
| China | 126 | 284 | 244 | 16.9 | -48.8% |
| Thailand | 119 | 342 | 491 | N/A | 103.1% |
| Oman | 125 | 42.6 | 7.3 | N/A | -75.8% |
| Jordan | 1,964 | N/A | N/A | N/A | 0% |
| Portugal | 2,017 | N/A | N/A | N/A | 0% |
| Saudi Arabia | 37.6 | 92.0 | 112 | N/A | 72.6% |
| Others | 316 | 581 | 1,033 | 54.7 | -44.3% |
| Total | 5,584 | 2,692 | 4,138 | 894 | -45.7% |
Top Suppliers of Stainless Steel Wire to Kuwait in 2022:
- South Korea (68.5 tons)
- United Arab Emirates (29.9 tons)
- United Kingdom (13.8 tons)
- India (12.4 tons)
- Italy (12.3 tons)
- United States (8.6 tons)
- China (4.9 tons)
Stainless Steel Wire Exports in Kuwait
For the third year in a row, Kuwait recorded decline in overseas shipments of stainless steel wire, which decreased by 0% to 16 tons in 2022. Over the period under review, exports showed a mild decline. The smallest decline of -13.7% was in 2020.
In value terms, stainless steel wire exports stood at $106K in 2022. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 6% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.
| Export of Stainless Steel Wire in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Egypt | N/A | N/A | N/A | 72.3 | 0% |
| India | 29.7 | 16.9 | N/A | 32.1 | 2.6% |
| Oman | 3.1 | 11.4 | N/A | 1.5 | -21.5% |
| Iraq | 1.9 | N/A | N/A | N/A | 0% |
| Saudi Arabia | 4.8 | 13.0 | N/A | N/A | 170.8% |
| Others | 0.3 | 0.9 | N/A | N/A | 200.0% |
| Total | 39.8 | 42.2 | N/A | 106 | 38.6% |
Top Export Markets for Stainless Steel Wire from Kuwait in 2022:
- Egypt (11.0 tons)
- India (4.9 tons)
- Oman (0.2 tons)
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