Stainless Steel Wire Price in Sri Lanka - 2021
Contents:
- Stainless Steel Wire Price in Sri Lanka (CIF) - 2022
- Stainless Steel Wire Price in Sri Lanka (FOB) - 2022
- Stainless Steel Wire Imports in Sri Lanka
- Stainless Steel Wire Exports in Sri Lanka
Stainless Steel Wire Price in Sri Lanka (CIF) - 2022
In 2022, the average stainless steel wire import price amounted to $3,778 per ton, falling by -17.6% against the previous year. Overall, the import price, however, showed a mild expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 80%. As a result, import price attained the peak level of $5,968 per ton. From 2014 to 2022, the average import prices failed to regain momentum.
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 Belgium ($29,135 per ton), while the price for Malaysia ($530 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+27.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Stainless Steel Wire Price in Sri Lanka (FOB) - 2022
The average stainless steel wire export price stood at $4,152 per ton in 2022, approximately equating the previous year. Overall, the export price saw a abrupt decline. The pace of growth appeared the most rapid in 2017 a decrease of -9.5%. Over the period under review, the average export prices hit record highs at $36,677 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 China ($17,586 per ton), while the average price for exports to Australia ($898 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 China (+41.6%), while the prices for the other major destinations experienced more modest paces of growth.
Stainless Steel Wire Imports in Sri Lanka
After three years of growth, supplies from abroad of stainless steel wire decreased by -1.6% to 132 tons in 2022. The total import volume increased at an average annual rate of +4.7% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 13%.
In value terms, stainless steel wire imports dropped markedly to $499K in 2022. Over the period under review, total imports indicated perceptible growth from 2019 to 2022: its value increased at an average annual rate of +2.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 61%. As a result, imports attained the peak of $615K, and then fell sharply in the following year.
| Import of Stainless Steel Wire in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | N/A | N/A | 198 | 271 | 36.9% |
| India | 293 | 261 | 117 | 160 | -18.3% |
| China | 69.0 | 40.7 | 24.3 | 33.3 | -21.6% |
| Taiwan (Chinese) | 11.4 | 5.1 | 5.2 | 7.1 | -14.6% |
| Denmark | 4.9 | 6.8 | N/A | 5.0 | 0.7% |
| Malaysia | 0.8 | 7.0 | 3.7 | 5.0 | 84.2% |
| Vietnam | 8.8 | 10.9 | 3.0 | 4.1 | -22.5% |
| Others | 70.3 | 50.4 | 264 | 12.8 | -43.3% |
| Total | 458 | 382 | 615 | 499 | 2.9% |
Top Suppliers of Stainless Steel Wire to Sri Lanka in 2022:
- India (63.5 tons)
- China (32.2 tons)
- Taiwan (Chinese) (11.4 tons)
- Malaysia (9.4 tons)
- Belgium (9.3 tons)
- Denmark (3.3 tons)
- Vietnam (2.5 tons)
Stainless Steel Wire Exports in Sri Lanka
In 2022, shipments abroad of stainless steel wire decreased by -49.5% to 50 kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a precipitous contraction.
In value terms, stainless steel wire exports fell sharply to $206 in 2022. In general, exports continue to indicate a dramatic slump.
| Export of Stainless Steel Wire in Sri Lanka (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 3,867 | N/A | 145 | 136 | -67.2% |
| China | 73.0 | N/A | 35.0 | 32.0 | -24.0% |
| Thailand | 1,731 | N/A | 19.0 | 18.0 | -78.2% |
| Maldives | 2,605 | N/A | 1.0 | 13.0 | -82.9% |
| India | 550 | N/A | 4.0 | 3.0 | -82.4% |
| Seychelles | 281 | N/A | 3.0 | 3.0 | -78.0% |
| Australia | 125 | N/A | 1.0 | 1.0 | -80.0% |
| Oman | N/A | N/A | 29.0 | N/A | 0% |
| Others | 44.0 | N/A | 174 | N/A | 98.9% |
| Total | 9,276 | N/A | 411 | 206 | -71.9% |
Top Export Markets for Stainless Steel Wire from Sri Lanka in 2022:
- Indonesia (34.0 kg)
- Thailand (10.0 kg)
- Maldives (9.0 kg)
- India (2.0 kg)
- China (2.0 kg)
- Australia (1.0 kg)
- Seychelles (1.0 kg)
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