Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China - 2024
Contents:
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China (FOB) - 2024
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China (CIF) - 2022
- Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China
- Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China (FOB) - 2024
In December 2023, the average export price for iron or non-alloy steel wire, plated or coated with zincs amounted to $822 per ton, growing by 4% against the previous month. Overall, the export price, however, faced a abrupt descent. The pace of growth was the most pronounced in March 2023 an increase of 19% m-o-m. As a result, the export price reached the peak level of $3,835 per ton. From April 2023 to December 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was Australia ($1,016 per ton), while the average price for exports to the Philippines ($593 per ton) was amongst the lowest.
From February 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-0.0%), while the prices for the other major destinations experienced a decline.
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China (CIF) - 2022
The average import price for iron or non-alloy steel wire, plated or coated with zincs stood at $2,585 per ton in 2022, surging by 11% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for iron or non-alloy steel wire, plated or coated with zincs increased by +16.5% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by 150%. The import price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($5,551 per ton), while the price for Turkey ($1,653 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China
In 2022, overseas shipments of iron or non-alloy steel wire, plated or coated with zincs decreased by -4.3% to 821K tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 6.1%. As a result, the exports reached the peak of 987K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of iron or non-alloy steel wire, plated or coated with zincs soared to $3.1B in 2022. Overall, exports, however, posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 85.9 | 153 | 200 | 531 | 83.5% |
| Saudi Arabia | 99.3 | 51.5 | 74.0 | 359 | 53.5% |
| Malaysia | 39.6 | 49.3 | 51.4 | 207 | 73.6% |
| Iraq | 37.2 | 39.8 | 31.7 | 146 | 57.7% |
| Thailand | 30.2 | 46.1 | 39.0 | 142 | 67.5% |
| South Korea | 74.9 | 80.8 | 90.8 | 118 | 16.4% |
| Vietnam | 45.3 | 75.3 | 54.5 | 113 | 35.6% |
| Brazil | 20.0 | 24.5 | 38.8 | 92.0 | 66.3% |
| United States | 42.6 | 35.9 | 30.2 | 61.5 | 13.0% |
| Myanmar | 31.2 | 35.5 | 18.1 | 59.0 | 23.7% |
| Australia | 14.0 | 27.1 | 17.3 | 44.0 | 46.5% |
| Libya | 6.6 | 5.1 | 4.6 | 41.4 | 84.4% |
| Haiti | 4.9 | 6.0 | 7.4 | 31.6 | 86.1% |
| Others | 550 | 600 | 462 | 1,185 | 29.2% |
| Total | 1,082 | 1,230 | 1,120 | 3,131 | 42.5% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc from China in 2022:
- Saudi Arabia (177.4K tons)
- Philippines (52.6K tons)
- Myanmar (43.7K tons)
- South Korea (38.7K tons)
- Brazil (31.2K tons)
- Iraq (30.2K tons)
- Haiti (26.3K tons)
- Malaysia (23.8K tons)
- Vietnam (20.4K tons)
- United States (19.0K tons)
- Libya (18.5K tons)
- Thailand (18.4K tons)
- Australia (16.4K tons)
Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China
In 2022, purchases abroad of iron or non-alloy steel wire, plated or coated with zincs decreased by -27.5% to 2.3K tons, falling for the second year in a row after two years of growth. Overall, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 12%. As a result, imports reached the peak of 3.9K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of iron or non-alloy steel wire, plated or coated with zincs dropped dramatically to $5.9M in 2022. Over the period under review, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 3.9%. As a result, imports reached the peak of $8.6M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 3,229 | 3,168 | 3,649 | 2,754 | -5.2% |
| Japan | 1,780 | 1,355 | 1,577 | 1,475 | -6.1% |
| Germany | 617 | 613 | 469 | 527 | -5.1% |
| Belgium | 873 | 501 | 530 | 252 | -33.9% |
| Thailand | 69.7 | 0.1 | 0.4 | 245 | 52.0% |
| Slovakia | 627 | 574 | 29.8 | 112 | -43.7% |
| Malaysia | 219 | 139 | 118 | 82.6 | -27.7% |
| Turkey | 149 | 0.4 | 64.1 | 75.9 | -20.1% |
| Indonesia | 160 | 1,094 | 249 | N/A | 24.7% |
| Others | 520 | 1,121 | 677 | 419 | -6.9% |
| Total | 8,244 | 8,565 | 7,363 | 5,941 | -10.3% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc to China in 2022:
- South Korea (1131.2 tons)
- Japan (585.9 tons)
- Germany (139.5 tons)
- Thailand (51.6 tons)
- Malaysia (48.1 tons)
- Turkey (45.9 tons)
- Belgium (45.4 tons)
- Slovakia (27.3 tons)
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This report provides an in-depth analysis of the market for iron and steel wire in China.
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