Stainless Steel Wire Price in Thailand - 2023
Contents:
- Stainless Steel Wire Price in Thailand (CIF) - 2023
- Stainless Steel Wire Price in Thailand (FOB) - 2023
- Stainless Steel Wire Imports in Thailand
- Stainless Steel Wire Exports in Thailand
Stainless Steel Wire Price in Thailand (CIF) - 2023
In September 2023, the average stainless steel wire import price amounted to $6,381 per ton, increasing by 5% against the previous month. Overall, the import price saw a slight increase. The pace of growth was the most pronounced in October 2022 an increase of 13% month-to-month. The import price peaked at $7,057 per ton in March 2023; however, from April 2023 to September 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($11,234 per ton), while the price for Taiwan (Chinese) ($1,951 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 Japan (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Stainless Steel Wire Price in Thailand (FOB) - 2023
The average stainless steel wire export price stood at $5,590 per ton in September 2023, remaining relatively unchanged against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 when the average export price increased by 11% against the previous month. Over the period under review, the average export prices attained the peak figure at $6,394 per ton in December 2022; however, from January 2023 to September 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($39,371 per ton), while the average price for exports to Vietnam ($3,524 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 (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.
Stainless Steel Wire Imports in Thailand
In 2022, supplies from abroad of stainless steel wire decreased by -16.6% to 9.7K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +6.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 25%. As a result, imports reached the peak of 12K tons, and then reduced remarkably in the following year.
In value terms, stainless steel wire imports dropped to $56M in 2022. In general, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +14.0% 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 +48.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. As a result, imports attained the peak of $57M, and then shrank in the following year.
| Import of Stainless Steel Wire in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 18.5 | 18.9 | 25.8 | 24.6 | 10.0% |
| China | 9.6 | 10.9 | 16.2 | 15.9 | 18.3% |
| South Korea | 3.4 | 3.6 | 4.6 | 4.8 | 12.2% |
| Vietnam | 1.4 | 3.2 | 3.8 | 3.8 | 39.5% |
| India | 1.9 | 1.5 | 2.1 | 3.2 | 19.0% |
| Taiwan (Chinese) | 1.4 | 1.0 | 1.5 | 1.6 | 4.6% |
| Others | 1.6 | 1.6 | 3.4 | 2.2 | 11.2% |
| Total | 37.9 | 40.8 | 57.3 | 56.2 | 14.0% |
Top Suppliers of Stainless Steel Wire to Thailand in 2022:
- China (3.7K tons)
- Japan (3.0K tons)
- Vietnam (0.9K tons)
- South Korea (0.7K tons)
- India (0.6K tons)
- Taiwan (Chinese) (0.5K tons)
Stainless Steel Wire Exports in Thailand
In 2022, approx. 8.4K tons of stainless steel wire were exported from Thailand; growing by 3.4% on 2021 figures. The total export volume increased at an average annual rate of +11.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 22%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, stainless steel wire exports skyrocketed to $44M in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +10.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 28% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.
| Export of Stainless Steel Wire in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 14.7 | 12.3 | 16.5 | 17.7 | 6.4% |
| Indonesia | 5.1 | 5.0 | 6.9 | 7.7 | 14.7% |
| Taiwan (Chinese) | 1.1 | 0.7 | 2.8 | 4.3 | 57.5% |
| Vietnam | 1.2 | 1.2 | 1.7 | 2.4 | 26.0% |
| Germany | 1.7 | 1.5 | 0.8 | 2.3 | 10.6% |
| United States | 1.3 | 0.8 | 0.5 | 1.3 | 0.0% |
| Turkey | N/A | 0.4 | 0.5 | 1.1 | 65.8% |
| Singapore | 1.0 | 1.8 | 2.0 | 1.1 | 3.2% |
| South Africa | N/A | 0.2 | N/A | 1.0 | 123.6% |
| Malaysia | 1.6 | 1.5 | 1.0 | 0.8 | -20.6% |
| China | 1.3 | 0.9 | 1.4 | 0.8 | -14.9% |
| Hong Kong SAR | 1.0 | 0.6 | 0.9 | 0.6 | -15.7% |
| United Kingdom | 0.5 | 0.4 | 0.7 | 0.5 | 0.0% |
| Others | 2.1 | 2.6 | 2.4 | 2.9 | 11.4% |
| Total | 32.5 | 29.8 | 38.1 | 44.4 | 11.0% |
Top Export Markets for Stainless Steel Wire from Thailand in 2022:
- Japan (3246.7 tons)
- Indonesia (1630.3 tons)
- Taiwan (Chinese) (1219.5 tons)
- Vietnam (457.0 tons)
- Germany (228.1 tons)
- United States (222.6 tons)
- South Africa (177.8 tons)
- Turkey (144.5 tons)
- Hong Kong SAR (113.8 tons)
- Singapore (113.0 tons)
- Malaysia (111.2 tons)
- China (101.5 tons)
- United Kingdom (90.3 tons)
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