Price for Steel, Alloy; Ingots and Other Primary Forms in Italy - 2023
Contents:
- Price for Steel, Alloy; Ingots and Other Primary Forms in Italy (CIF) - 2023
- Price for Steel, Alloy; Ingots and Other Primary Forms in Italy (FOB) - 2023
- Imports of Steel, Alloy; Ingots and Other Primary Forms in Italy
- Exports of Steel, Alloy; Ingots and Other Primary Forms in Italy
Price for Steel, Alloy; Ingots and Other Primary Forms in Italy (CIF) - 2023
The average import price for steel, alloy; ingots and other primary formses stood at $625 per ton in August 2023, declining by -3.1% against the previous month. Over the last eight months, it increased at an average monthly rate of +3.3%. The pace of growth appeared the most rapid in February 2023 when the average import price increased by 14% month-to-month. Over the period under review, average import prices hit record highs at $711 per ton in June 2023; however, from July 2023 to August 2023, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From December 2022 to August 2023, the rate of growth in terms of prices for Germany amounted to +15.8% per month.
Price for Steel, Alloy; Ingots and Other Primary Forms in Italy (FOB) - 2023
In August 2023, the average export price for steel, alloy; ingots and other primary formses amounted to $1,919 per ton, declining by -8.6% against the previous month. Overall, the export price continues to indicate a mild reduction. The most prominent rate of growth was recorded in July 2023 when the average export price increased by 10% against the previous month. Over the period under review, the average export prices hit record highs at $2,219 per ton in December 2022; however, from January 2023 to August 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major overseas markets. In August 2023, the countries with the highest prices were the UK ($2,213 per ton) and South Africa ($2,132 per ton), while the average price for exports to India ($1,888 per ton) and Turkey ($2,062 per ton) were amongst the lowest.
From December 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Alloy; Ingots and Other Primary Forms in Italy
In 2022, overseas purchases of steel, alloy; ingots and other primary formses were finally on the rise to reach 120K tons after two years of decline. Overall, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +7.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of steel, alloy; ingots and other primary formses skyrocketed to $134M in 2022. In general, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +8.1% 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 +52.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Steel, Alloy; Ingots and Other Primary Forms in Italy (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Austria | 83.8 | 73.8 | 92.4 | 116 | 11.4% |
| Germany | 3.4 | 4.9 | 5.8 | 9.5 | 40.8% |
| France | 0.6 | 0.9 | 2.0 | 4.7 | 98.6% |
| Luxembourg | 11.5 | 4.9 | 2.5 | 2.0 | -44.2% |
| Others | 6.4 | 3.1 | 2.6 | 1.9 | -33.3% |
| Total | 106 | 87.7 | 105 | 134 | 8.1% |
Top Suppliers of Steel, Alloy; Ingots and Other Primary Forms to Italy in 2022:
- Austria (95.4K tons)
- Germany (18.3K tons)
- France (4.1K tons)
- Luxembourg (1.2K tons)
Exports of Steel, Alloy; Ingots and Other Primary Forms in Italy
In 2022, exports of steel, alloy; ingots and other primary formses from Italy contracted sharply to 33K tons, waning by -16.8% on 2021 figures. In general, exports showed a mild shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 50%. As a result, the exports reached the peak of 40K tons, and then reduced remarkably in the following year.
In value terms, exports of steel, alloy; ingots and other primary formses soared to $70M in 2022. Over the period under review, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 74% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Steel, Alloy; Ingots and Other Primary Forms in Italy (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 17.6 | 15.0 | 19.6 | 29.3 | 18.5% |
| Spain | 7.1 | 6.3 | 11.7 | 10.8 | 15.0% |
| France | 6.9 | 2.0 | 3.7 | 10.0 | 13.2% |
| Turkey | 0.1 | 0.1 | N/A | 3.4 | 224.0% |
| South Africa | 0.6 | 1.3 | 2.5 | 3.3 | 76.5% |
| Brazil | 1.0 | 0.8 | 0.8 | 3.0 | 44.2% |
| Switzerland | 0.4 | 0.7 | 2.0 | 2.4 | 81.7% |
| India | 5.7 | 1.3 | 9.1 | 0.6 | -52.8% |
| Romania | 1.2 | 2.5 | 2.8 | 0.5 | -25.3% |
| Others | 4.9 | 2.8 | 4.6 | 6.5 | 9.9% |
| Total | 45.7 | 32.7 | 56.9 | 69.8 | 15.2% |
Top Export Markets for Steel, Alloy; Ingots and Other Primary Forms from Italy in 2022:
- Germany (14.3K tons)
- Spain (5.1K tons)
- France (3.5K tons)
- Turkey (2.2K tons)
- South Africa (2.0K tons)
- Brazil (1.7K tons)
- Switzerland (1.0K tons)
- India (0.6K tons)
- Romania (0.2K tons)
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