Price for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in Sri Lanka - 2022

Contents:

1. Price for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in Sri Lanka (CIF) - 2022
2. Price for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in Sri Lanka (FOB) - 2022
3. Imports of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in Sri Lanka
4. Exports of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in Sri Lanka

Price for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in Sri Lanka (CIF) - 2022

The average import price for steel, alloy stood at $3,053 per ton in 2022, increasing by 33% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for steel, alloy increased by +82.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 37%. The import price peaked 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 Poland ($4,747 per ton), while the price for Hong Kong SAR ($526 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in Sri Lanka (FOB) - 2022

The average export price for steel, alloy stood at $2,047 per ton in 2022, approximately equating the previous year. Over the period under review, the export price continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2014 when the average export price increased by 55%. The export price peaked at $2,500 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +24.2% per year.

Imports of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in Sri Lanka

For the third year in a row, Sri Lanka recorded decline in overseas purchases of steel, alloy, which decreased by -53.1% to 729 tons in 2022. Over the period under review, imports faced a sharp reduction. The smallest decline of -13.1% was in 2021.

In value terms, imports of steel, alloy contracted notably to $2.2M in 2022. In general, imports recorded a sharp decline. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year.

Top Suppliers of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented to Sri Lanka in 2022:

1. Poland (156.9 tons)
2. United Arab Emirates (102.7 tons)
3. Hong Kong SAR (99.9 tons)
4. Singapore (86.4 tons)
5. India (66.6 tons)
6. South Korea (50.4 tons)
7. Germany (48.8 tons)
8. United Kingdom (31.0 tons)
9. China (29.5 tons)
10. France (27.5 tons)

Exports of Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented in Sri Lanka

Exports of steel, alloy from Sri Lanka stood at 13 tons in 2022, flattening at the previous year. Overall, exports enjoyed a resilient increase. The growth pace was the most rapid in 2021 when exports increased by 454% 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 immediate term.

In value terms, exports of steel, alloy totaled $27K in 2022. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2021 when exports increased by 531%. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Top Export Markets for Steel, Alloy; Flat-Rolled, Width Less than 600mm, of Silicon-Electrical Steel, Grain-Oriented from Sri Lanka in 2022:

1. India (13.4 tons)

Source: IndexBox Market Intelligence Platform