Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States - 2024
Contents:
- Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States (CIF) - 2024
- Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States (FOB) - 2024
- Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States
- Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States
Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States (CIF) - 2024
In August 2023, the average import price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses amounted to $895 per ton, dropping by -5.8% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 12% month-to-month. The import price peaked at $1,025 per ton in June 2023; however, from July 2023 to August 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($1,317 per ton), while the price for Egypt ($566 per ton) was amongst the lowest.
From February 2023 to August 2023, the most notable rate of growth in terms of prices was attained by Algeria (+0.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States (FOB) - 2024
In August 2023, the average export price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses amounted to $1,202 per ton, with an increase of 11% against the previous month. Over the period under review, export price indicated a slight expansion from February 2023 to August 2023: its price increased at an average monthly rate of +1.4% over the last six months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, export price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses decreased by -39.1% against June 2023 indices. The pace of growth was the most pronounced in June 2023 an increase of 62% m-o-m. As a result, the export price attained the peak level of $1,973 per ton. From July 2023 to August 2023, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Mexico ($1,357 per ton), while the average price for exports to Bahamas ($677 per ton) was amongst the lowest.
From February 2023 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (-0.1%), while the prices for the other major destinations experienced a decline.
Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States
In 2022, approx. 1.2M tons of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses were imported into the United States; increasing by 25% on 2021 figures. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 70%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the immediate term.
In value terms, imports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses soared to $1.2B in 2022. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 122% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 165 | 160 | 280 | 302 | 22.3% |
| Japan | 133 | 67.4 | 89.5 | 152 | 4.6% |
| Mexico | 9.1 | 16.9 | 60.7 | 135 | 145.7% |
| Brazil | 86.5 | 55.7 | 81.2 | 127 | 13.7% |
| India | 6.2 | N/A | 27.1 | 109 | 160.0% |
| Malaysia | 24.4 | N/A | N/A | 87.4 | 53.0% |
| Algeria | N/A | N/A | 39.5 | 75.7 | 91.6% |
| Germany | 76.0 | 39.8 | 52.8 | 70.4 | -2.5% |
| South Korea | 22.1 | 17.1 | 40.2 | 52.1 | 33.1% |
| Egypt | 26.0 | 3.2 | 97.3 | 51.8 | 25.8% |
| Others | 119 | 23.4 | 81.5 | 84.8 | -10.7% |
| Total | 667 | 383 | 850 | 1,247 | 23.2% |
Top Suppliers of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils to the United States in 2022:
- Canada (241.3K tons)
- Mexico (143.2K tons)
- Japan (137.5K tons)
- India (134.6K tons)
- Malaysia (114.7K tons)
- Brazil (107.8K tons)
- Algeria (97.7K tons)
- Egypt (59.6K tons)
- Germany (53.8K tons)
- South Korea (51.9K tons)
Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States
In 2022, overseas shipments of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses decreased by -8.3% to 90K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 7.9% against the previous year.
In value terms, exports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses expanded notably to $106M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +11.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 32% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 32.7 | 42.4 | 65.5 | 58.0 | 21.0% |
| Dominican Republic | 19.4 | 15.1 | 8.0 | 16.4 | -5.4% |
| Mexico | 10.9 | 9.5 | 13.9 | 15.8 | 13.2% |
| Bahamas | 4.9 | 3.0 | 4.7 | 4.4 | -3.5% |
| British Virgin Islands | 1.0 | 2.0 | 2.0 | 2.5 | 35.7% |
| Cayman Islands | 0.3 | 0.5 | 0.7 | 2.0 | 88.2% |
| Others | 6.7 | 3.7 | 5.9 | 7.1 | 2.0% |
| Total | 75.9 | 76.2 | 101 | 106 | 11.8% |
Top Export Markets for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils from the United States in 2022:
- Canada (47.8K tons)
- Dominican Republic (17.0K tons)
- Mexico (11.5K tons)
- Bahamas (5.6K tons)
- British Virgin Islands (2.4K tons)
- Cayman Islands (2.3K tons)
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