Price for Iron and Non-Alloy Steel in Ingot in Kuwait - 2022
Contents:
- Price for Iron and Non-Alloy Steel in Ingot in Kuwait (CIF) - 2022
- Price for Iron and Non-Alloy Steel in Ingot in Kuwait (FOB) - 2022
- Imports of Iron and Non-Alloy Steel in Ingot in Kuwait
- Exports of Iron and Non-Alloy Steel in Ingot in Kuwait
Price for Iron and Non-Alloy Steel in Ingot in Kuwait (CIF) - 2022
The average import price for iron and non-alloy steel in ingots stood at $1,597 per ton in 2022, rising by 350% against the previous year. Over the period under review, the import price continues to indicate a prominent expansion. As a result, import price reached 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 2022, amid the top importers, the country with the highest price was India ($1,378 per ton), while the price for Saudi Arabia totaled $663 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+63.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron and Non-Alloy Steel in Ingot in Kuwait (FOB) - 2022
In 2022, the average export price for iron and non-alloy steel in ingots amounted to $546 per ton, leveling off at the previous year. Overall, the export price continues to indicate a slight setback. The growth pace was the most rapid in 2017 an increase of 32%. Over the period under review, the average export prices hit record highs at $615 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($403 per ton), while the average price for exports to Pakistan amounted to $247 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron and Non-Alloy Steel in Ingot in Kuwait
For the third consecutive year, Kuwait recorded decline in purchases abroad of iron and non-alloy steel in ingots, which decreased by -44.1% to 87K tons in 2022. In general, imports saw a sharp reduction. The smallest decline of -9.3% was in 2021.
In value terms, imports of iron and non-alloy steel in ingots soared to $139M in 2022. Overall, imports, however, showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Iron and Non-Alloy Steel in Ingot in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | N/A | N/A | N/A | 0.3 | 0% |
| India | N/A | N/A | 0.1 | 0.1 | 0.0% |
| United States | 61.8 | 55.3 | 49.0 | N/A | -11.0% |
| Iran | 6.9 | 5.0 | 3.6 | N/A | -27.8% |
| Others | 2.5 | 2.5 | 2.8 | 139 | 281.7% |
| Total | 71.3 | 62.9 | 55.4 | 139 | 24.9% |
Top Suppliers of Iron and Non-Alloy Steel in Ingot to Kuwait in 2022:
- Saudi Arabia (0.5K tons)
- India (0.1K tons)
Exports of Iron and Non-Alloy Steel in Ingot in Kuwait
In 2022, exports of iron and non-alloy steel in ingots from Kuwait reduced remarkably to 15 tons, with a decrease of -99.9% on the previous year's figure. Over the period under review, exports recorded a dramatic decrease. The smallest decline of -34.3% was in 2020.
In value terms, exports of iron and non-alloy steel in ingots reduced notably to $8.1K in 2022. In general, exports faced a precipitous decrease. The smallest decline of -36.1% was in 2020.
| Export of Iron and Non-Alloy Steel in Ingot in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 0.1 | N/A | 0.9 | N/A | 200.0% |
| Saudi Arabia | 37.2 | 22.5 | 2.8 | N/A | -72.6% |
| Pakistan | 1.1 | 2.0 | 3.2 | N/A | 70.6% |
| Others | N/A | N/A | 0.1 | N/A | 0% |
| Total | 38.4 | 24.5 | 7.0 | N/A | -57.3% |
Top Export Markets for Iron and Non-Alloy Steel in Ingot from Kuwait in 2022:
- India (92.5 tons)
- Pakistan (10.9 tons)
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