Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States - 2024

Contents:

1. Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States (CIF) - 2024
2. Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States (FOB) - 2024
3. Imports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States
4. Exports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States

Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States (CIF) - 2024

The average import price for steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses stood at $1,320 per ton in September 2023, waning by -2.8% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average import price increased by 11% against the previous month. Over the period under review, average import prices hit record highs at $1,459 per ton in July 2023; however, from August 2023 to September 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In September 2023, the countries with the highest prices were Germany ($1,437 per ton) and Japan ($1,413 per ton), while the price for South Korea ($1,107 per ton) and Canada ($1,241 per ton) were amongst the lowest.

From February 2023 to September 2023, the most notable rate of growth in terms of prices was attained by Canada (+0.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States (FOB) - 2024

In September 2023, the average export price for steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses amounted to $1,359 per ton, with a decrease of -13.8% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in May 2023 when the average export price increased by 16% month-to-month. As a result, the export price reached the peak level of $1,769 per ton. From June 2023 to September 2023, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In September 2023, the country with the highest price was India ($4,404 per ton), while the average price for exports to Oman ($1,108 per ton) was amongst the lowest.

From February 2023 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+1.1%), while the prices for the other major destinations experienced a decline.

Imports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States

In 2022, the amount of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses imported into the United States amounted to 440K tons, picking up by 2.1% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, imports of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses skyrocketed to $557M in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +9.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +90.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 58% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils to the United States in 2022:

1. Canada (202.1K tons)
2. Japan (134.6K tons)
3. Germany (80.3K tons)
4. South Korea (11.7K tons)
5. Mexico (8.4K tons)

Exports of Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in the United States

Exports of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses from the United States stood at 33K tons in 2022, almost unchanged from 2021. In general, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 69%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of steel, alloy; bars and rods, hot-rolled, in irregularly wound coilses skyrocketed to $51M in 2022. Over the period under review, exports showed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 80% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Top Export Markets for Steel, Alloy; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils from the United States in 2022:

1. Canada (21.0K tons)
2. Oman (6.2K tons)
3. Mexico (3.7K tons)
4. China (0.5K tons)
5. India (0.3K tons)
6. Japan (0.3K tons)

Source: IndexBox Market Intelligence Platform