Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States - 2024
Contents:
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States (CIF) - 2024
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States (FOB) - 2022
- Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States
- Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States (CIF) - 2024
The average import price for iron or non-alloy steel wire, not plated or coateds stood at $1,341 per ton in December 2023, remaining constant against the previous month. In general, the import price, however, continues to indicate a slight slump. The growth pace was the most rapid in November 2023 when the average import price increased by 6.6% against the previous month. Over the period under review, average import prices hit record highs at $1,486 per ton in March 2023; however, from April 2023 to December 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($2,118 per ton), while the price for China ($844 per ton) was amongst the lowest.
From March 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Canada (+0.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States (FOB) - 2022
The average export price for iron or non-alloy steel wire, not plated or coateds stood at $2,268 per ton in 2022, rising by 16% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for iron or non-alloy steel wire, not plated or coateds increased by +84.7% against 2012 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($7,220 per ton), while the average price for exports to Vietnam ($610 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States
In 2022, the amount of iron or non-alloy steel wire, not plated or coateds imported into the United States contracted slightly to 256K tons, with a decrease of -3.4% compared with the previous year. In general, imports recorded a mild decrease. The growth pace was the most rapid in 2021 when imports increased by 12% against the previous year.
In value terms, imports of iron or non-alloy steel wire, not plated or coateds surged to $399M in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 44% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 77.4 | 83.6 | 120 | 164 | 28.4% |
| Canada | 85.0 | 66.3 | 97.5 | 92.4 | 2.8% |
| China | 33.6 | 21.8 | 26.9 | 36.5 | 2.8% |
| South Korea | 24.9 | 13.5 | 18.7 | 28.0 | 4.0% |
| Germany | 13.9 | 7.9 | 15.7 | 27.7 | 25.8% |
| Japan | 26.1 | 12.4 | 21.0 | 20.1 | -8.3% |
| Others | 28.0 | 19.6 | 23.7 | 29.6 | 1.9% |
| Total | 289 | 225 | 324 | 399 | 11.4% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Not Plated or Coated to the United States in 2022:
- Mexico (129.9K tons)
- Canada (47.0K tons)
- China (31.5K tons)
- Germany (12.2K tons)
- Japan (10.8K tons)
- South Korea (10.6K tons)
Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States
In 2022, shipments abroad of iron or non-alloy steel wire, not plated or coateds decreased by -6.5% to 23K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +7.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 23% against the previous year.
In value terms, exports of iron or non-alloy steel wire, not plated or coateds rose sharply to $52M in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +14.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 19% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Iron or Non-Alloy Steel Wire, Not Plated or Coated in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 11.4 | 12.2 | 15.0 | 17.8 | 16.0% |
| Mexico | 13.1 | 11.3 | 15.2 | 13.4 | 0.8% |
| Brazil | 0.7 | 7.1 | 5.9 | 8.4 | 128.9% |
| United Kingdom | 0.4 | 1.6 | 3.6 | 5.0 | 132.1% |
| Belgium | 2.5 | 1.1 | 1.3 | 1.4 | -17.6% |
| Taiwan (Chinese) | 1.5 | 1.2 | 1.0 | 0.7 | -22.4% |
| Vietnam | 0.2 | 0.5 | 0.4 | 0.4 | 26.0% |
| Others | 5.3 | 5.5 | 5.8 | 5.1 | -1.3% |
| Total | 35.0 | 40.4 | 48.1 | 52.3 | 14.3% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Not Plated or Coated from the United States in 2022:
- Canada (7.8K tons)
- Mexico (5.8K tons)
- Brazil (3.2K tons)
- United Kingdom (1.8K tons)
- Belgium (1.3K tons)
- Taiwan (Chinese) (1.2K tons)
- Vietnam (0.6K tons)
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