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Iron and nonalloy steel ingots: top exporters and importers (2024)

In 2024, world trade in iron and nonalloy steel ingots totaled $583 million (846 thousand tonnes). The top exporters were India (37%), the United States (7%) and China (7%); the top importers were Italy (39%), El Salvador (7%) and Germany (6%). Compared with 2019, the value fell 50%.

Summary

World trade
$583million
Tonnes
846thousand tonnes
Price per tonne
$664
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. India$218 million · 37.4%
  2. United States$39 million · 6.7%
  3. China$39 million · 6.6%
  4. Italy$37 million · 6.4%
  5. Indonesia$34 million · 5.9%
  6. Angola$20 million · 3.4%
  7. Slovenia$16 million · 2.8%
  8. Germany$13 million · 2.3%
  9. Zimbabwe$13 million · 2.2%
  10. Belgium$12 million · 2.1%
    re-exports
  11. France$11 million · 1.9%
  12. United Kingdom$10 million · 1.7%
  13. Lithuania$9 million · 1.5%
  14. Libya$8 million · 1.4%
  15. Jordan$8 million · 1.4%
  16. Sweden$8 million · 1.3%
  17. Japan$7 million · 1.3%
  18. Malaysia$6 million · 0.99%
  19. Denmark$6 million · 0.95%
  20. Iran$6 million · 0.94%

Top importers

  1. Italy$226 million · 38.7%
  2. El Salvador$40 million · 6.8%
  3. Germany$34 million · 5.9%
  4. Spain$30 million · 5.2%
  5. Egypt$19 million · 3.3%
  6. Democratic Republic of the Congo$16 million · 2.8%
  7. India$16 million · 2.7%
  8. Latvia$15 million · 2.5%
  9. Saudi Arabia$14 million · 2.3%
  10. South Africa$12 million · 2.1%
  11. Vietnam$10 million · 1.7%
  12. Netherlands$9 million · 1.6%
    re-exports
  13. United Arab Emirates$9 million · 1.6%
  14. France$7 million · 1.2%
  15. China$7 million · 1.2%
  16. United States$6 million · 1.1%
  17. Greece$6 million · 1.1%
  18. Brazil$6 million · 1.1%
  19. Canada$6 million · 1%
  20. United Kingdom$6 million · 1%

Trend

Who sells it

India has been the top exporter since 2022

Value in USD millions. The five largest exporters in 2024.

  • India 218
  • United States 39.1
  • China 38.6
  • Italy 37.1
  • Indonesia 34.4

Source: CEPII BACI

Show the numbers
Country19952024
India2.6218
United States20.939.1
China38.138.6
Italy3737.1
Indonesia0.1334.4

Price

Implied price

The price per tonne rose 129% since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $664

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$290
1996$300
1997$273
1998$273
1999$240
2000$224
2001$283
2002$208
2003$301
2004$417
2005$465
2006$526
2007$668
2008$1,118
2009$806
2010$596
2011$704
2012$1,853
2013$915
2014$616
2015$518
2016$432
2017$422
2018$479
2019$443
2020$444
2021$634
2022$618
2023$873
2024$664

What it includes

  • 7206 · Iron and nonalloy steel ingots

Products in the same chapter

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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