Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam - 2022
Contents:
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam (CIF) - 2022
- Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam (FOB) - 2022
- Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam
- Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam (CIF) - 2022
In 2022, the average import price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s amounted to $1,218 per ton, surging by 7.5% against the previous year. Over the period under review, the import price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 86% against the previous year. As a result, import price reached the peak level of $3,145 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($1,218 per ton) and Taiwan (Chinese) ($1,218 per ton), while the price for China ($1,218 per ton) and South Korea ($1,218 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam (FOB) - 2022
The average export price for iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s stood at $1,131 per ton in 2022, approximately mirroring the previous year. Overall, the export price, however, posted a slight expansion. The growth pace was the most rapid in 2017 an increase of 193%. Over the period under review, the average export prices reached the maximum at $1,400 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($1,131 per ton), while the average price for exports to Myanmar ($1,131 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam
In 2022, purchases abroad of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s decreased by -21% to 107 tons, falling for the second consecutive year after two years of growth. In general, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 184% against the previous year. As a result, imports attained the peak of 210 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s declined sharply to $130K in 2022. Overall, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 141%. As a result, imports reached the peak of $156K. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 61.4 | 103 | 49.8 | 78.4 | 8.5% |
| Taiwan (Chinese) | 3.4 | N/A | 9.0 | 27.5 | 100.7% |
| China | N/A | 53.3 | 93.2 | 14.3 | -48.2% |
| Japan | N/A | N/A | 1.4 | 9.8 | 600.0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 64.8 | 156 | 153 | 130 | 26.1% |
Top Suppliers of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) to Vietnam in 2022:
- South Korea (64.4 tons)
- Taiwan (Chinese) (22.6 tons)
- China (11.7 tons)
- Japan (8.1 tons)
Exports of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam
For the third year in a row, Vietnam recorded decline in shipments abroad of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s, which decreased by -30.7% to 52 tons in 2022. Overall, exports showed a sharp slump. The smallest decline of -20.9% was in 2021.
In value terms, exports of iron or non-alloy steel; ingots (excluding iron of heading no. 7203)s contracted markedly to $59K in 2022. In general, exports showed a precipitous curtailment. The smallest decline of -15.5% was in 2021.
| Export of Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cambodia | 148 | 95.0 | 82.6 | 35.0 | -38.2% |
| Indonesia | 43.6 | N/A | N/A | 20.3 | -22.5% |
| Myanmar | 7.0 | 5.1 | 2.0 | 3.4 | -21.4% |
| Taiwan (Chinese) | 9.3 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 208 | 100 | 84.6 | 58.6 | -34.4% |
Top Export Markets for Iron or Non-Alloy Steel; Ingots (Excluding Iron of Heading No. 7203) from Vietnam in 2022:
- Cambodia (30.9 tons)
- Indonesia (17.9 tons)
- Myanmar (3.0 tons)
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