Price for Stainless Steel in Ingots or Other Primary Forms in the United States - 2023
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in the United States (CIF) - 2023
- Price for Stainless Steel in Ingots or Other Primary Forms in the United States (FOB) - 2022
- Imports of Stainless Steel in Ingots or Other Primary Forms in the United States
- Exports of Stainless Steel in Ingots or Other Primary Forms in the United States
Price for Stainless Steel in Ingots or Other Primary Forms in the United States (CIF) - 2023
The average import price for stainless steel in ingots or other primary forms stood at $4,000 per ton in September 2023, reducing by -5.7% against the previous month. In general, the import price saw a slight contraction. The growth pace was the most rapid in January 2023 an increase of 21% m-o-m. The import price peaked at $4,999 per ton in September 2022; however, from October 2022 to September 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Sweden ($5,026 per ton), while the price for Canada ($2,986 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the UK (-0.2%), while the prices for the other major suppliers experienced a decline.
Price for Stainless Steel in Ingots or Other Primary Forms in the United States (FOB) - 2022
The average export price for stainless steel in ingots or other primary forms stood at $7,069 per ton in 2022, picking up by 33% against the previous year. Overall, the export price posted resilient growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 54%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.
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 China ($15,714 per ton), while the average price for exports to France ($2,431 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 Honduras (+16.4%), 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 the United States
In 2022, approx. 68K tons of stainless steel in ingots or other primary forms were imported into the United States; stabilizing at 2021. In general, imports showed a deep setback. The growth pace was the most rapid in 2021 when imports increased by 12% against the previous year.
In value terms, imports of stainless steel in ingots or other primary forms skyrocketed to $307M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.2% 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 +98.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 47%. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Stainless Steel in Ingots or Other Primary Forms in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 65.2 | 53.7 | 88.5 | 111 | 19.4% |
| United Kingdom | 65.6 | 40.8 | 69.7 | 97.8 | 14.2% |
| Canada | 11.9 | 25.9 | 52.6 | 53.2 | 64.7% |
| Italy | 31.1 | 11.0 | 8.6 | 24.4 | -7.8% |
| Indonesia | 37.9 | 14.2 | N/A | N/A | -62.5% |
| Others | 12.1 | 9.6 | 9.3 | 21.0 | 20.2% |
| Total | 224 | 155 | 229 | 307 | 11.1% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to the United States in 2022:
- United Kingdom (27.5K tons)
- Sweden (21.1K tons)
- Canada (11.6K tons)
- Italy (5.4K tons)
Exports of Stainless Steel in Ingots or Other Primary Forms in the United States
In 2022, the amount of stainless steel in ingots or other primary forms exported from the United States fell notably to 14K tons, which is down by -18.7% on the year before. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 69%.
In value terms, exports of stainless steel in ingots or other primary forms rose notably to $101M in 2022. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 34% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Export of Stainless Steel in Ingots or Other Primary Forms in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 15.1 | 13.6 | 10.4 | 21.3 | 12.2% |
| United Kingdom | 24.2 | 10.8 | 13.2 | 13.5 | -17.7% |
| Mexico | 12.4 | 7.1 | 4.3 | 9.9 | -7.2% |
| China | 3.0 | 3.0 | 5.0 | 6.4 | 28.7% |
| Japan | 4.5 | 5.2 | 6.3 | 6.0 | 10.1% |
| South Korea | 3.5 | 4.8 | 4.6 | 5.8 | 18.3% |
| Taiwan (Chinese) | 8.2 | 4.3 | 4.8 | 4.3 | -19.4% |
| France | 5.3 | 1.3 | 1.8 | 3.0 | -17.3% |
| Spain | 0.2 | 0.6 | 4.6 | 2.4 | 128.9% |
| India | 1.5 | 0.3 | 0.9 | 1.6 | 2.2% |
| Others | 20.9 | 19.1 | 37.9 | 27.2 | 9.2% |
| Total | 98.7 | 70.0 | 93.6 | 101 | 0.8% |
Top Export Markets for Stainless Steel in Ingots or Other Primary Forms from the United States in 2022:
- Canada (5.0K tons)
- United Kingdom (2.0K tons)
- Mexico (1.5K tons)
- France (1.2K tons)
- Japan (1.0K tons)
- Spain (0.8K tons)
- Taiwan (Chinese) (0.7K tons)
- South Korea (0.7K tons)
- India (0.6K tons)
- China (0.4K tons)
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