Iron, Steel Or Aluminium Reservoir Prices in the United States

U.S. Iron, Steel Or Aluminium Reservoir Import Price per Ton in August 2022

In August 2022, the iron, steel or aluminium reservoir price per ton stood at $84.0K (CIF, US), surging by 12% against the previous month. Overall, import price indicated a buoyant expansion from January 2022 to August 2022: its price increased at an average monthly rate of +6.6% over the last seven-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2022 figures, iron, steel or aluminium reservoir import price increased by +85.7% against April 2022 indices. The pace of growth appeared the most rapid in June 2022 an increase of 38% month-to-month. Over the period under review, average import prices attained the maximum in August 2022.

There were significant differences in the average prices amongst the major supplying countries. In August 2022, the country with the highest price was Germany ($616.7K per ton), while the price for Vietnam ($26.8K per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by Germany (+72.1%), while the prices for the other major suppliers experienced more modest paces of growth.

U.S. Iron, Steel Or Aluminium Reservoir Import Prices by Type

Prices varied noticeably by the product type; the product with the highest price was reservoirs, tanks, vats and similar containers, of iron or steel, capacity exceeding 300l, whether or not lined or heat insulated ($401.7K per ton), while the price for containers for compressed or liquefied gas, of iron or steel amounted to $54.3K per ton.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by containers for compressed or liquefied gas, of aluminium (+7.9%), while the prices for the other product experienced more modest paces of growth.

U.S. Iron, Steel Or Aluminium Reservoir Imports

In August 2022, overseas purchases of iron, steel or aluminium reservoirs, tanks, vats and similar containers increased by 0.5% to 1.3K tons, rising for the second consecutive month after two months of decline. Over the period under review, imports, however, saw a slight slump. The pace of growth appeared the most rapid in March 2022 with an increase of 41% m-o-m.

In value terms, iron, steel or aluminium reservoir imports expanded markedly to $112M (IndexBox estimates) in August 2022. The total import value increased at an average monthly rate of +5.5% from January 2022 to August 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The pace of growth was the most pronounced in March 2022 with an increase of 29% against the previous month. As a result, imports attained the peak of $127M. From April 2022 to August 2022, the growth of imports remained at a lower figure.

U.S. Iron, Steel Or Aluminium Reservoir Imports by Type

In August 2022, containers for compressed or liquefied gas, of iron or steel (988 tons) constituted the largest type of iron, steel or aluminium reservoir supplied to the United States, accounting for a 88% share of total imports. Moreover, containers for compressed or liquefied gas, of iron or steel exceeded the figures recorded for the second-largest type, reservoirs, tanks, vats and similar containers, of iron or steel, capacity exceeding 300l, whether or not lined or heat insulated (133 tons), sevenfold.

From January 2022 to August 2022, the average monthly rate of growth in terms of the volume of import of containers for compressed or liquefied gas, of iron or steel was relatively modest.

In value terms, the most traded types of iron, steel or aluminium reservoirs, tanks, vats and similar containers in the United States were containers for compressed or liquefied gas, of iron or steel ($54M) and reservoirs, tanks, vats and similar containers, of iron or steel, capacity exceeding 300l, whether or not lined or heat insulated ($53M).

U.S. Iron, Steel Or Aluminium Reservoir Imports by Country

China (386 tons), Thailand (207 tons) and India (179 tons) were the main suppliers of iron, steel or aluminium reservoir imports to the United States, together accounting for 58% of total imports. Vietnam, Taiwan (Chinese), Canada, Italy, Portugal and Germany lagged somewhat behind, together comprising a further 34%.

From January 2022 to August 2022, the biggest increases were in Canada (with a CAGR of +20.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Canada ($21M), China ($15M) and India ($6.4M) were the largest iron, steel or aluminium reservoir suppliers to the United States, with a combined 38% share of total imports. These countries were followed by Thailand, Italy, Germany, Portugal, Vietnam and Taiwan (Chinese), which together accounted for a further 24%.

In terms of the main suppliers, Portugal, with a CAGR of +19.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform