Price for Stainless Steel in Ingots or Other Primary Forms in the UK - 2023
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in the UK (FOB) - 2022
- Price for Stainless Steel in Ingots or Other Primary Forms in the UK (CIF) - 2022
- Exports of Stainless Steel in Ingots or Other Primary Forms in the UK
- Imports of Stainless Steel in Ingots or Other Primary Forms in the UK
Price for Stainless Steel in Ingots or Other Primary Forms in the UK (FOB) - 2022
The average export price for stainless steel in ingots or other primary forms stood at $3,859 per ton in 2022, jumping by 28% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for stainless steel in ingots or other primary forms increased by +66.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Portugal ($4,582 per ton) and Germany ($4,248 per ton), while the average price for exports to the United States ($3,469 per ton) and Sweden ($3,659 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Stainless Steel in Ingots or Other Primary Forms in the UK (CIF) - 2022
In 2022, the average import price for stainless steel in ingots or other primary forms amounted to $6,825 per ton, growing by 4% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 18% against the previous year. Over the period under review, average import 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 amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($18,812 per ton), while the price for Malta ($1,904 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Stainless Steel in Ingots or Other Primary Forms in the UK
Exports of stainless steel in ingots or other primary forms from the UK fell slightly to 210K tons in 2022, waning by -4.2% compared with the year before. In general, total exports indicated measured growth from 2019 to 2022: its volume increased at an average annual rate of +4.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.8% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 55%. As a result, the exports attained the peak of 219K tons, and then shrank modestly in the following year.
In value terms, exports of stainless steel in ingots or other primary forms surged to $808M in 2022. Overall, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 102%. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the immediate term.
| Export of Stainless Steel in Ingots or Other Primary Forms in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 264 | 189 | 425 | 517 | 25.1% |
| United States | 68.6 | 47.7 | 75.0 | 93.1 | 10.7% |
| Portugal | 22.6 | 22.1 | 41.0 | 67.1 | 43.7% |
| Spain | 35.2 | 22.3 | 52.7 | 40.9 | 5.1% |
| Germany | 9.7 | 5.9 | 10.4 | 11.8 | 6.8% |
| South Korea | 9.4 | 7.3 | 11.2 | 9.1 | -1.1% |
| Others | 36.3 | 31.6 | 42.9 | 69.2 | 24.0% |
| Total | 446 | 326 | 658 | 808 | 21.9% |
Top Export Markets for Stainless Steel in Ingots or Other Primary Forms from the UK in 2022:
- Sweden (141.3K tons)
- United States (26.8K tons)
- Portugal (14.6K tons)
- Spain (10.2K tons)
- Germany (2.8K tons)
- South Korea (2.4K tons)
Imports of Stainless Steel in Ingots or Other Primary Forms in the UK
In 2022, purchases abroad of stainless steel in ingots or other primary forms was finally on the rise to reach 6.9K tons after two years of decline. Overall, imports, however, saw a abrupt downturn.
In value terms, imports of stainless steel in ingots or other primary forms soared to $47M in 2022. In general, imports, however, showed a pronounced descent.
| Import of Stainless Steel in Ingots or Other Primary Forms in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 11.1 | 6.9 | 12.5 | 17.4 | 16.2% |
| United States | 25.7 | 8.8 | 6.0 | 12.4 | -21.6% |
| Spain | 5.7 | 1.6 | 4.5 | 7.1 | 7.6% |
| Italy | 1.6 | 4.6 | 2.0 | 3.6 | 31.0% |
| Norway | 0.4 | 0.6 | 1.4 | 0.7 | 20.5% |
| Malta | N/A | N/A | N/A | 0.2 | 0% |
| Others | 8.2 | 6.0 | 5.4 | 5.6 | -11.9% |
| Total | 52.8 | 28.5 | 31.8 | 47.0 | -3.8% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to the UK in 2022:
- Sweden (2655.7 tons)
- United States (2148.6 tons)
- Spain (1266.8 tons)
- Italy (193.1 tons)
- Malta (127.9 tons)
- Norway (106.3 tons)
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