Stainless Steel Wire Price in China - 2023
Contents:
- Stainless Steel Wire Price in China (FOB) - 2023
- Stainless Steel Wire Price in China (CIF) - 2023
- Stainless Steel Wire Exports in China
- Stainless Steel Wire Imports in China
Stainless Steel Wire Price in China (FOB) - 2023
The average stainless steel wire export price stood at $3,116 per ton in September 2023, shrinking by -3% against the previous month. Over the period under review, the export price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in November 2022 an increase of 4.7% month-to-month. The export price peaked at $4,197 per ton in March 2023; however, from April 2023 to September 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($4,672 per ton), while the average price for exports to Vietnam ($2,004 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.7%), while the prices for the other major destinations experienced mixed trend patterns.
Stainless Steel Wire Price in China (CIF) - 2023
The average stainless steel wire import price stood at $11,144 per ton in September 2023, with a decrease of -23.6% against the previous month. In general, the import price continues to indicate a mild decrease. The most prominent rate of growth was recorded in December 2022 an increase of 28% m-o-m. The import price peaked at $15,821 per ton in March 2023; however, from April 2023 to September 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($49,575 per ton), while the price for India ($3,944 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Italy (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Stainless Steel Wire Exports in China
In 2022, the amount of stainless steel wire exported from China stood at 95K tons, approximately mirroring the year before. The total export volume increased at an average annual rate of +4.7% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.
In value terms, stainless steel wire exports skyrocketed to $405M in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +15.4% 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 +65.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Stainless Steel Wire in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 29.1 | 28.9 | 50.9 | 57.9 | 25.8% |
| Japan | 25.2 | 25.5 | 27.7 | 31.6 | 7.8% |
| United States | 17.6 | 10.4 | 21.8 | 24.2 | 11.2% |
| Germany | 19.6 | 13.0 | 22.5 | 24.1 | 7.1% |
| Vietnam | 19.4 | 18.4 | 23.9 | 23.5 | 6.6% |
| Italy | 14.9 | 11.7 | 19.7 | 22.2 | 14.2% |
| Russia | 4.8 | 5.7 | 6.3 | 21.0 | 63.6% |
| Turkey | 9.8 | 11.5 | 18.2 | 20.9 | 28.7% |
| Thailand | 11.7 | 12.0 | 16.2 | 16.9 | 13.0% |
| India | 12.8 | 11.6 | 13.1 | 16.2 | 8.2% |
| Canada | 2.2 | 2.7 | 3.8 | 11.6 | 74.1% |
| Netherlands | 6.3 | 5.1 | 10.4 | 11.2 | 21.1% |
| Indonesia | 5.8 | 6.8 | 9.0 | 11.2 | 24.5% |
| Others | 84.1 | 80.7 | 100 | 112 | 10.0% |
| Total | 263 | 244 | 344 | 405 | 15.5% |
Top Export Markets for Stainless Steel Wire from China in 2022:
- South Korea (15.8K tons)
- Japan (7.6K tons)
- Vietnam (7.6K tons)
- Turkey (5.2K tons)
- United States (5.0K tons)
- Italy (4.9K tons)
- Germany (4.6K tons)
- Russia (4.1K tons)
- Thailand (3.5K tons)
- India (3.2K tons)
- Netherlands (3.0K tons)
- Indonesia (2.5K tons)
- Canada (2.4K tons)
Stainless Steel Wire Imports in China
In 2022, approx. 16K tons of stainless steel wire were imported into China; declining by -14.8% on the year before. In general, imports showed a perceptible downturn. The pace of growth appeared the most rapid in 2021 with an increase of 14%. As a result, imports attained the peak of 18K tons, and then contracted in the following year.
In value terms, stainless steel wire imports reduced modestly to $185M in 2022. The total import value increased at an average annual rate of +5.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 22%. As a result, imports attained the peak of $191M, and then contracted in the following year.
| Import of Stainless Steel Wire in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 54.1 | 62.2 | 67.5 | 65.6 | 6.6% |
| South Korea | 37.9 | 38.1 | 49.2 | 42.1 | 3.6% |
| United States | 8.8 | 7.5 | 14.8 | 15.8 | 21.5% |
| Germany | 8.5 | 8.7 | 11.7 | 12.5 | 13.7% |
| Taiwan (Chinese) | 7.0 | 5.4 | 8.4 | 10.2 | 13.4% |
| Sweden | 4.2 | 3.7 | 4.9 | 7.2 | 19.7% |
| France | 10.7 | 6.9 | 8.2 | 6.8 | -14.0% |
| India | 1.7 | 2.3 | 3.1 | 2.5 | 13.7% |
| Italy | 1.0 | 1.2 | 1.9 | 2.1 | 28.1% |
| Czech Republic | 5.4 | 3.3 | 1.6 | 1.8 | -30.7% |
| Thailand | 2.8 | 1.7 | 2.1 | 1.6 | -17.0% |
| Vietnam | 4.5 | 2.3 | 2.0 | 1.2 | -35.6% |
| Others | 12.6 | 13.3 | 15.9 | 15.7 | 7.6% |
| Total | 159 | 157 | 191 | 185 | 5.2% |
Top Suppliers of Stainless Steel Wire to China in 2022:
- South Korea (5.2K tons)
- Japan (4.8K tons)
- Taiwan (Chinese) (1.4K tons)
- France (1.1K tons)
- Germany (0.6K tons)
- Italy (0.5K tons)
- India (0.5K tons)
- Sweden (0.5K tons)
- United States (0.2K tons)
- Vietnam (0.2K tons)
- Thailand (0.2K tons)
- Czech Republic (0.1K tons)
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