Steel ingots trade by country: top importers, exporters and prices
World trade in steel ingots was worth $600.0 million in 2024, about 839.3 thousand tonnes. That is a fall of 67% since 2017, and down 15% on 2023.
Public statistics, latest complete year (2024). Values in US dollars. Page updated .
World trade by year, 2017-2024
Hover or tap a year for detail.
Year by year
| Year | Value | Quantity |
|---|---|---|
| 2024 | $600.0M | 839.3K t |
| 2023 | $706.6M | 777.2K t |
| 2022 | $2.47B | 3.96M t |
| 2021 | $2.23B | 3.49M t |
| 2020 | $1.29B | 2.92M t |
| 2019 | $1.11B | 2.46M t |
| 2018 | $1.36B | 2.90M t |
| 2017 | $1.81B | 4.31M t |
Top steel ingots exporting countries
Exports are led by India (36%), the United States (7%) and China (6%). 106 countries reported exports, and the top three account for 49%.
| Exporter | Value | Share |
|---|---|---|
| India | $215.8M | 36% |
| United States | $42.0M | 7% |
| China | $38.6M | 6.4% |
| Italy | $38.5M | 6.4% |
| Indonesia | $34.8M | 5.8% |
| Angola | $19.7M | 3.3% |
| Sweden | $17.9M | 3% |
| Slovenia | $16.5M | 2.8% |
| Germany | $14.4M | 2.4% |
| Belgium | $12.3M | 2.1% |
| Zimbabwe | $11.9M | 2% |
| France | $11.9M | 2% |
Top importing countries and buyer markets
Italy is the biggest buyer with 37% of world imports, ahead of Germany and El Salvador. Demand is concentrated: the top three take 51% across 163 importing countries.
| Importer | Value | Share |
|---|---|---|
| Italy | $222.2M | 37% |
| Germany | $46.5M | 7.8% |
| El Salvador | $39.5M | 6.6% |
| Spain | $29.7M | 5% |
| DR Congo | $16.4M | 2.7% |
| India | $15.5M | 2.6% |
| Egypt | $15.1M | 2.5% |
| Latvia | $14.6M | 2.4% |
| Saudi Arabia | $13.6M | 2.3% |
| South Africa | $11.4M | 1.9% |
| Netherlands | $11.0M | 1.8% |
| Vietnam | $10.0M | 1.7% |
Average price per kg
The world average declared value was about $0.71 per kg in 2024. Among the main exporters, the United States averaged $5.23 per kg and China $0.25 per kg, so grade and origin matter.
Declared value divided by weight, all 2024 shipments worldwide. Prices per shipment and per company are in EximDataX.
Who is behind these numbers in this market?
Public statistics stop at country totals and the last published year. EximDataX shows the shipment records underneath: the companies, dates, quantities and declared values, updated weekly.
Shipment records are in the platform
Tell us what you trade and we will show you the latest records on a live call.
Source: CEPII BACI (reconciled UN Comtrade data), HS 2017 edition, release 202601, Etalab Open Licence 2.0. Annual values in US dollars at the customs border; quantities in tonnes where reported. HS 7206: Iron and non-alloy steel in ingots or other primary forms (excluding iron of heading no. 7203). HS 7206 codes.
Common questions
Which countries export the most steel ingots?
India exported $215.8 million in 2024, 36% of the world total, followed by the United States (7%) and China (6%). In all, 106 countries reported exports of this product. The full ranking and map are on this page.
Which countries import the most steel ingots?
Italy imported $222.2 million in 2024, 37% of world imports, ahead of Germany (8%) and El Salvador (7%). The top three importers together take 51%. Each country with its own page is linked from the table.
How big is the world trade in steel ingots?
It was worth $600.0 million in 2024, about 839.3 thousand tonnes. That is a fall of 67% since 2017. The peak year was 2022 at $2.47 billion. 106 countries reported exports and 163 reported imports.
What is the average price of steel ingots per kg?
The world average declared value was about $0.71 per kg in 2024. Among the main exporters, the United States averaged $5.23 per kg and China $0.25 per kg, so grade and origin matter. It is total declared value divided by total weight, so treat it as a benchmark, not a quote.
What is the HS code for steel ingots?
The HS code for steel ingots is heading 7206, in chapter 72 (iron and steel). Customs uses this code worldwide at the six-digit level; national tariffs add more digits. The full list of codes is on the HS 7206 page.
How can I find steel ingots buyers and suppliers?
Public statistics stop at country totals. EximDataX shows the importers and exporters behind this trade from shipment-level customs records, updated weekly, with direct customs feeds and mirror data. Tell us your product and we will show you the latest records on a live call.
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