Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in India - 2023

Contents:

1. Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in India (CIF) - 2023
2. Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in India (FOB) - 2022
3. Imports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in India
4. Exports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in India

Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in India (CIF) - 2023

The average import price for steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s stood at $1,394 per ton in July 2023, rising by 6% against the previous month. Over the last eight-month period, it increased at an average monthly rate of +1.3%. The import price peaked at $1,421 per ton in April 2023; afterwards, it flattened through to July 2023.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Vietnam ($2,362 per ton), while the price for Hong Kong SAR ($1,100 per ton) was amongst the lowest.

From November 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in India (FOB) - 2022

In 2022, the average export price for steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s amounted to $2,021 per ton, declining by -39.5% against the previous year. In general, the export price showed a pronounced shrinkage. The growth pace was the most rapid in 2015 an increase of 47% against the previous year. As a result, the export price reached the peak level of $4,690 per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($8,578 per ton), while the average price for exports to Ethiopia ($1,253 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 Netherlands (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in India

After three years of growth, supplies from abroad of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s decreased by -18.2% to 151K tons in 2022. In general, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 79%. As a result, imports attained the peak of 185K tons, and then dropped notably in the following year.

In value terms, imports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s fell to $199M in 2022. Overall, imports, however, recorded resilient growth. The growth pace was the most rapid in 2021 when imports increased by 93%. As a result, imports reached the peak of $226M, and then shrank in the following year.

Top Suppliers of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 to India in 2022:

1. China (97.4K tons)
2. Hong Kong SAR (47.6K tons)
3. Indonesia (1.2K tons)
4. Vietnam (1.1K tons)
5. Malaysia (0.3K tons)

Exports of Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 in India

In 2022, exports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s from India surged to 1.7K tons, jumping by 177% compared with 2021 figures. Overall, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of steel, stainless; flat-rolled, width less than 600mm, nes in heading no 7220s soared to $3.4M in 2022. In general, exports enjoyed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Steel, Stainless; Flat-Rolled, Width Less than 600mm, Nes in Heading No 7220 from India in 2022:

1. Nepal (615.9 tons)
2. Ethiopia (290.0 tons)
3. Romania (201.0 tons)
4. Portugal (120.7 tons)
5. United States (83.2 tons)
6. Bangladesh (68.6 tons)
7. Belgium (56.5 tons)
8. United Arab Emirates (49.7 tons)
9. Poland (23.9 tons)
10. Brazil (16.0 tons)
11. Thailand (8.3 tons)
12. Spain (5.3 tons)