Price for Iron or Steel; Cast Articles in Thailand - 2023
Contents:
- Price for Iron or Steel; Cast Articles in Thailand (FOB) - 2023
- Price for Iron or Steel; Cast Articles in Thailand (CIF) - 2023
- Exports of Iron or Steel; Cast Articles in Thailand
- Imports of Iron or Steel; Cast Articles in Thailand
Price for Iron or Steel; Cast Articles in Thailand (FOB) - 2023
The average export price for iron or steel; cast articleses stood at $1,801 per ton in July 2023, surging by 7.1% against the previous month. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 when the average export price increased by 21% m-o-m. As a result, the export price reached the peak level of $2,110 per ton. From February 2023 to July 2023, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was New Caledonia ($2,091 per ton), while the average price for exports to Nigeria ($1,131 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+0.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron or Steel; Cast Articles in Thailand (CIF) - 2023
In July 2023, the average import price for iron or steel; cast articleses amounted to $4,007 per ton, jumping by 92% against the previous month. In general, import price indicated a noticeable expansion from July 2022 to July 2023: its price increased at an average monthly rate of +3.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, iron or steel; cast articles import price increased by +94.0% against April 2023 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was South Korea ($26,203 per ton), while the price for China ($1,474 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by South Korea (+25.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Steel; Cast Articles in Thailand
In 2022, overseas shipments of iron or steel; cast articleses decreased by -13.7% to 86K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 14% against the previous year. As a result, the exports attained the peak of 99K tons, and then shrank in the following year.
In value terms, iron or steel; cast articles exports shrank modestly to $154M in 2022. The total export value increased at an average annual rate of +5.5% from 2019 to 2022; 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 27% against the previous year. As a result, the exports reached the peak of $156M, and then contracted in the following year.
| Export of Iron or Steel; Cast Articles in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 31.1 | 42.6 | 62.3 | 69.9 | 31.0% |
| Japan | 12.2 | 10.3 | 12.6 | 10.6 | -4.6% |
| Belgium | 9.4 | 6.3 | 8.3 | 10.3 | 3.1% |
| Turkey | 2.1 | 3.2 | 3.5 | 4.2 | 26.0% |
| Lao People's Democratic Republic | 14.2 | 7.9 | 5.7 | 3.4 | -37.9% |
| Saudi Arabia | 2.3 | 1.8 | 1.0 | 3.2 | 11.6% |
| Bosnia and Herzegovina | 1.7 | 2.9 | 3.7 | 3.0 | 20.8% |
| Brazil | 2.8 | 2.1 | 6.9 | 2.5 | -3.7% |
| Chile | 4.3 | 3.4 | 1.8 | 2.4 | -17.7% |
| Liberia | 0.2 | 1.1 | 0.7 | 2.0 | 115.4% |
| Indonesia | 3.2 | 1.7 | 1.0 | 1.0 | -32.1% |
| Others | 47.7 | 39.3 | 48.4 | 41.6 | -4.5% |
| Total | 131 | 123 | 156 | 154 | 5.5% |
Top Export Markets for Iron or Steel; Cast Articles from Thailand in 2022:
- Australia (45.9K tons)
- Belgium (6.5K tons)
- Turkey (3.0K tons)
- Saudi Arabia (2.1K tons)
- Lao People's Democratic Republic (2.1K tons)
- Bosnia and Herzegovina (1.7K tons)
- Japan (1.6K tons)
- Liberia (1.3K tons)
- Chile (1.3K tons)
- Brazil (1.2K tons)
- Indonesia (0.6K tons)
Imports of Iron or Steel; Cast Articles in Thailand
In 2022, approx. 11K tons of iron or steel; cast articleses were imported into Thailand; with an increase of 6% compared with 2021. The total import volume increased at an average annual rate of +9.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, iron or steel; cast articles imports expanded rapidly to $27M in 2022. The total import value increased at an average annual rate of +11.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 25%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
| Import of Iron or Steel; Cast Articles in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.8 | 9.4 | 11.2 | 16.3 | 27.8% |
| Vietnam | 3.2 | 1.6 | 5.4 | 4.3 | 10.4% |
| India | 0.9 | 0.8 | 1.0 | 1.5 | 18.6% |
| South Korea | 1.4 | 2.6 | 2.3 | 1.1 | -7.7% |
| Philippines | 0.5 | 0.1 | 0.6 | 0.4 | -7.2% |
| Others | 6.0 | 5.1 | 3.9 | 3.6 | -15.7% |
| Total | 19.8 | 19.5 | 24.4 | 27.1 | 11.0% |
Top Suppliers of Iron or Steel; Cast Articles to Thailand in 2022:
- China (8.0K tons)
- Vietnam (1.9K tons)
- South Korea (0.4K tons)
- Philippines (0.2K tons)
- India (0.2K tons)
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