Singapore: Market for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) 2022

Market Size for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Singapore

The Singaporean iron and steel wire market reduced to $X in 2020, dropping by -X% against the previous year. In general, consumption, however, recorded a mild decrease. The pace of growth was the most pronounced in 2011 when the market value increased by X% against the previous year. As a result, consumption attained the peak level of $X. from 2012 to 2020, the growth of the market remained at a somewhat lower figure.

Production of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Singapore

In value terms, iron and steel wire production dropped modestly to $X in 2020 estimated in export prices. Overall, the total production indicated a noticeable increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production decreased by -X% against 2018 indices. The pace of growth was the most pronounced in 2009 when the production volume increased by X% against the previous year. Iron and steel wire production peaked at $X in 2018; however, from 2019 to 2020, production failed to regain the momentum.

Exports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Exports from Singapore

In 2020, the amount of wire of iron or non-alloy steel (stainless steel or other alloy steel) exported from Singapore amounted to X tons, approximately mirroring the previous year's figure. Overall, exports posted a resilient increase. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Exports peaked at X tons in 2009; however, from 2010 to 2020, exports remained at a lower figure.

In value terms, iron and steel wire exports expanded remarkably to $X in 2020. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when exports increased by X% against the previous year. Over the period under review, exports hit record highs at $X in 2012; however, from 2013 to 2020, exports failed to regain the momentum.

Exports by Country

Australia (X tons), Malaysia (X tons) and Indonesia (X tons) were the main destinations of iron and steel wire exports from Singapore, together accounting for X% of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia, while exports for the other leaders experienced mixed trend patterns.

In value terms, Malaysia ($X), Australia ($X) and Indonesia ($X) appeared to be the largest markets for iron and steel wire exported from Singapore worldwide, together accounting for X% of total exports.

Among the main countries of destination, Australia recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2020, the average iron and steel wire export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2010 an increase of X% year-to-year. The export price peaked at $X per ton in 2007; however, from 2008 to 2020, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Indonesia ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia, while the prices for the other major destinations experienced a decline.

Imports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Imports into Singapore

Iron and steel wire imports into Singapore shrank to X tons in 2020, falling by -X% compared with the previous year. In general, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure at X tons in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports declined to $X in 2020. Overall, imports showed a noticeable decrease. The pace of growth appeared the most rapid in 2010 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, China (X tons) constituted the largest iron and steel wire supplier to Singapore, accounting for a X% share of total imports. Moreover, iron and steel wire imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from China stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-X% per year) and Malaysia (-X% per year).

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the largest iron and steel wire suppliers to Singapore, together comprising X% of total imports. Malaysia, Thailand, Indonesia and Taiwan (Chinese) lagged somewhat behind, together comprising a further X the main suppliers, Indonesia recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2020, which is down by -X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2019, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was South Korea ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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