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Stainless steel ingots and semi-finished products: top exporters and importers (2024)

In 2024, world trade in stainless steel ingots and semi-finished products totaled $4.5 billion (1.9 million tonnes). Indonesia accounted for 58% of exports, followed by the United Kingdom (11%) and Sweden (5%); the top importers were India (26%), China (20%) and Taiwan (13%). Compared with 2019, the value rose 121%.

Summary

World trade
$4.5billion
Tonnes
1.9million tonnes
Price per tonne
$2,404
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. Indonesia$2.6 billion · 57.6%
  2. United Kingdom$480 million · 10.7%
  3. Sweden$231 million · 5.2%
  4. Italy$219 million · 4.9%
  5. France$171 million · 3.8%
  6. Germany$123 million · 2.7%
  7. Austria$120 million · 2.7%
  8. Spain$84 million · 1.9%
  9. United States$59 million · 1.3%
  10. Belgium$54 million · 1.2%
    re-exports
  11. Canada$47 million · 1%
  12. India$45 million · 1%
  13. China$33 million · 0.73%
  14. Netherlands$30 million · 0.66%
    re-exports
  15. Mexico$29 million · 0.65%
  16. Taiwan$27 million · 0.6%
  17. South Korea$13 million · 0.3%
  18. Vietnam$13 million · 0.3%
  19. Japan$11 million · 0.25%
  20. Finland$11 million · 0.25%

Top importers

  1. India$1.1 billion · 25.5%
  2. China$879 million · 19.6%
  3. Taiwan$572 million · 12.8%
  4. Sweden$302 million · 6.7%
  5. Italy$267 million · 5.9%
  6. United States$262 million · 5.8%
  7. France$179 million · 4%
  8. Belgium$162 million · 3.6%
    re-exports
  9. Germany$130 million · 2.9%
  10. Spain$84 million · 1.9%
  11. Austria$75 million · 1.7%
  12. Portugal$60 million · 1.3%
  13. United Kingdom$52 million · 1.2%
  14. Ukraine$40 million · 0.89%
  15. Netherlands$26 million · 0.57%
    re-exports
  16. Vietnam$25 million · 0.56%
  17. Canada$19 million · 0.42%
  18. Indonesia$17 million · 0.38%
  19. Poland$14 million · 0.32%
  20. Czechia$14 million · 0.31%

Trend

Who sells it

Indonesia has been the top exporter since 2020

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

  • Indonesia 2.6
  • United Kingdom 0.48
  • Sweden 0.23
  • Italy 0.22
  • France 0.17

Source: CEPII BACI

Show the numbers
Country19952024
Indonesia< 0.012.6
United Kingdom0.590.48
Sweden0.210.23
Italy0.110.22
France0.30.17

Price

Implied price

The price per tonne rose 47% since 1995

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

  • 2024: $2,404

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$1,635
1996$1,365
1997$1,360
1998$1,345
1999$1,139
2000$1,213
2001$1,133
2002$1,048
2003$1,324
2004$1,841
2005$2,052
2006$2,353
2007$4,594
2008$4,076
2009$2,997
2010$3,530
2011$4,092
2012$3,567
2013$3,238
2014$3,611
2015$2,827
2016$2,383
2017$2,149
2018$2,305
2019$2,388
2020$1,861
2021$2,342
2022$2,967
2023$2,549
2024$2,404

What it includes

  • 7218 · Stainless steel ingots and semi-finished products

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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