Price for Iron and Non-Alloy Steel in Ingot in Vietnam - 2022
Contents:
- Price for Iron and Non-Alloy Steel in Ingot in Vietnam (CIF) - 2022
- Price for Iron and Non-Alloy Steel in Ingot in Vietnam (FOB) - 2022
- Imports of Iron and Non-Alloy Steel in Ingot in Vietnam
- Exports of Iron and Non-Alloy Steel in Ingot in Vietnam
Price for Iron and Non-Alloy Steel in Ingot in Vietnam (CIF) - 2022
In 2022, the average import price for iron and non-alloy steel in ingots amounted to $311 per ton, shrinking by -79.2% against the previous year. Over the period under review, the import price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when the average import price increased by 62%. As a result, import price reached the peak level of $1,739 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Korea ($1,808 per ton) and Japan ($1,690 per ton), while the price for China ($1,218 per ton) and Taiwan (Chinese) ($1,633 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+25.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron and Non-Alloy Steel in Ingot in Vietnam (FOB) - 2022
In 2022, the average export price for iron and non-alloy steel in ingots amounted to $6,067 per ton, with an increase of 110% against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 an increase of 171%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($2,387 per ton), while the average price for exports to Cambodia ($1,140 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 Indonesia (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron and Non-Alloy Steel in Ingot in Vietnam
Imports of iron and non-alloy steel in ingots into Vietnam expanded significantly to 1.1K tons in 2022, with an increase of 12% against the year before. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 196% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in the immediate term.
In value terms, imports of iron and non-alloy steel in ingots contracted sharply to $327K in 2022. Overall, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 225% against the previous year. As a result, imports reached the peak of $1.4M, and then fell dramatically in the following year.
| Import of Iron and Non-Alloy Steel in Ingot in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 64.5 | 229 | 626 | 231 | 53.0% |
| Taiwan (Chinese) | 38.8 | N/A | 59.3 | 56.7 | 13.5% |
| Japan | 35.7 | 71.8 | 109 | 25.2 | -11.0% |
| China | 42.8 | 132 | 613 | 14.3 | -30.6% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 182 | 433 | 1,408 | 327 | 21.6% |
Top Suppliers of Iron and Non-Alloy Steel in Ingot to Vietnam in 2022:
- South Korea (127.8 tons)
- Taiwan (Chinese) (34.7 tons)
- Japan (14.9 tons)
- China (11.7 tons)
Exports of Iron and Non-Alloy Steel in Ingot in Vietnam
Exports of iron and non-alloy steel in ingots from Vietnam shrank significantly to 80 tons in 2022, which is down by -56.8% against the previous year's figure. Overall, exports saw a precipitous shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 95%. As a result, the exports attained the peak of 185 tons, and then dropped significantly in the following year.
In value terms, exports of iron and non-alloy steel in ingots shrank to $484K in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 429% against the previous year. As a result, the exports attained the peak of $534K, and then reduced in the following year.
| Export of Iron and Non-Alloy Steel in Ingot in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cambodia | 153 | 100 | 534 | 35.0 | -38.8% |
| Indonesia | 45.1 | N/A | N/A | 20.3 | -23.4% |
| Myanmar | N/A | N/A | N/A | 3.4 | 0% |
| Others | 9.6 | 0.7 | N/A | 425 | 253.8% |
| Total | 208 | 101 | 534 | 484 | 32.5% |
Top Export Markets for Iron and Non-Alloy Steel in Ingot from Vietnam in 2022:
- Cambodia (30.6 tons)
- Indonesia (8.5 tons)
- Myanmar (1.4 tons)
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