Price for Iron and Non-Alloy Steel in Ingot in the UK - 2023
Contents:
- Price for Iron and Non-Alloy Steel in Ingot in the UK (FOB) - 2022
- Price for Iron and Non-Alloy Steel in Ingot in the UK (CIF) - 2022
- Exports of Iron and Non-Alloy Steel in Ingot in the UK
- Imports of Iron and Non-Alloy Steel in Ingot in the UK
Price for Iron and Non-Alloy Steel in Ingot in the UK (FOB) - 2022
The average export price for iron and non-alloy steel in ingots stood at $1,030 per ton in 2022, jumping by 49% against the previous year. Over the period under review, the export price, however, saw a mild decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 138%. The export price peaked at $7,629 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($9,802 per ton), while the average price for exports to Ireland ($478 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 India (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron and Non-Alloy Steel in Ingot in the UK (CIF) - 2022
In 2022, the average import price for iron and non-alloy steel in ingots amounted to $2,395 per ton, which is down by -20.7% against the previous year. Overall, the import price, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 an increase of 257%. As a result, import price attained the peak level of $4,619 per ton. From 2016 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($6,440 per ton), while the price for the Netherlands ($791 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron and Non-Alloy Steel in Ingot in the UK
In 2022, overseas shipments of iron and non-alloy steel in ingots decreased by -15% to 11K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,639% against the previous year.
In value terms, exports of iron and non-alloy steel in ingots skyrocketed to $11M in 2022. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 74% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the near future.
| Export of Iron and Non-Alloy Steel in Ingot in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 2.8 | 1,378 | 5,102 | 2,329 | 840.5% |
| United States | 775 | 1,001 | 798 | 1,617 | 27.8% |
| Finland | 6.3 | 4.4 | 346 | 950 | 432.3% |
| France | 146 | 521 | 328 | 330 | 31.2% |
| Ireland | 164 | 396 | 282 | 215 | 9.4% |
| Taiwan (Chinese) | 86.6 | 441 | 847 | 38.7 | -23.5% |
| Others | 1,761 | 1,327 | 1,102 | 5,666 | 47.6% |
| Total | 2,943 | 5,069 | 8,805 | 11,147 | 55.9% |
Top Export Markets for Iron and Non-Alloy Steel in Ingot from the UK in 2022:
- Spain (2.4K tons)
- Finland (0.4K tons)
- Ireland (0.4K tons)
- United States (0.3K tons)
- France (0.1K tons)
Imports of Iron and Non-Alloy Steel in Ingot in the UK
Imports of iron and non-alloy steel in ingots into the UK contracted to 2.3K tons in 2022, with a decrease of -14.8% compared with 2021. The total import volume increased at an average annual rate of +3.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 35%. As a result, imports reached the peak of 2.7K tons, and then fell in the following year.
In value terms, imports of iron and non-alloy steel in ingots declined rapidly to $5.5M in 2022. In general, total imports indicated a modest increase from 2019 to 2022: its value increased at an average annual rate of +1.5% 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 +29.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 92%. As a result, imports reached the peak of $8.1M, and then contracted dramatically in the following year.
| Import of Iron and Non-Alloy Steel in Ingot in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 1,063 | 506 | 5,851 | 2,593 | 34.6% |
| China | 851 | 906 | 911 | 886 | 1.4% |
| France | N/A | 15.5 | 10.6 | 877 | 652.2% |
| United States | 265 | 322 | 404 | 336 | 8.2% |
| Germany | 204 | 912 | 110 | 306 | 14.5% |
| Poland | 750 | 511 | 62.7 | 103 | -48.4% |
| Netherlands | 649 | 363 | 363 | 64.8 | -53.6% |
| Taiwan (Chinese) | 276 | 5.5 | 35.0 | 56.4 | -41.1% |
| Japan | 527 | 3.3 | 23.1 | 25.8 | -63.4% |
| Others | 649 | 672 | 325 | 223 | -30.0% |
| Total | 5,233 | 4,216 | 8,096 | 5,471 | 1.5% |
Top Suppliers of Iron and Non-Alloy Steel in Ingot to the UK in 2022:
- Ireland (402.7 tons)
- China (240.8 tons)
- France (164.4 tons)
- Germany (112.5 tons)
- Poland (107.1 tons)
- United States (85.5 tons)
- Netherlands (81.9 tons)
- Taiwan (Chinese) (9.0 tons)
- Japan (2.6 tons)
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