Price for Wire of Other Alloy Steel in Mexico - 2023
Contents:
- Price for Wire of Other Alloy Steel in Mexico (CIF) - 2023
- Price for Wire of Other Alloy Steel in Mexico (FOB) - 2023
- Imports of Wire of Other Alloy Steel in Mexico
- Exports of Wire of Other Alloy Steel in Mexico
Price for Wire of Other Alloy Steel in Mexico (CIF) - 2023
In June 2023, the average import price for wire of other alloy steels amounted to $3,249 per ton, shrinking by -47.3% against the previous month. Overall, the import price faced a deep downturn. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 151% month-to-month. As a result, import price reached the peak level of $9,837 per ton. From February 2023 to June 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($3,479 per ton), while the price for Vietnam ($1,133 per ton) was amongst the lowest.
From November 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Wire of Other Alloy Steel in Mexico (FOB) - 2023
In June 2023, the average export price for wire of other alloy steels amounted to $1,547 per ton, remaining relatively unchanged against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level of $1,614 per ton. From January 2023 to June 2023, the the average export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From December 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to -0.1% per month.
Imports of Wire of Other Alloy Steel in Mexico
In 2022, the amount of wire of other alloy steels imported into Mexico rose notably to 39K tons, growing by 8.8% compared with the previous year's figure. Over the period under review, imports, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 34%.
In value terms, wire of other alloy steel imports surged to $111M in 2022. Overall, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +6.0% 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 +76.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Wire of Other Alloy Steel in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 25.6 | 19.4 | 29.7 | 40.7 | 16.7% |
| South Korea | 28.4 | 18.4 | 26.6 | 28.5 | 0.1% |
| Japan | 14.1 | 11.3 | 14.5 | 18.1 | 8.7% |
| Vietnam | 3.9 | 3.2 | 5.7 | 9.6 | 35.0% |
| China | 1.8 | 2.5 | 3.1 | 5.8 | 47.7% |
| Germany | 8.9 | 2.7 | 1.6 | 3.0 | -30.4% |
| India | 2.3 | 0.5 | 1.2 | 0.5 | -39.9% |
| Sweden | 2.6 | 1.6 | 1.3 | 0.4 | -46.4% |
| Others | 5.8 | 3.9 | 4.5 | 4.7 | -6.8% |
| Total | 93.4 | 63.2 | 88.2 | 111 | 5.9% |
Top Suppliers of Wire of Other Alloy Steel to Mexico in 2022:
- South Korea (11.5K tons)
- United States (11.4K tons)
- Japan (8.1K tons)
- Vietnam (2.4K tons)
- China (2.3K tons)
- Germany (0.6K tons)
- India (0.2K tons)
- Sweden (0.1K tons)
Exports of Wire of Other Alloy Steel in Mexico
In 2022, exports of wire of other alloy steels from Mexico amounted to 55K tons, picking up by 1.9% against 2021 figures. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 219% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, wire of other alloy steel exports amounted to $74M in 2022. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of 217% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.
| Export of Wire of Other Alloy Steel in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 17.7 | 22.3 | 71.7 | 72.9 | 60.3% |
| Others | 0.6 | 0.6 | 0.9 | 0.7 | 5.3% |
| Total | 18.3 | 22.9 | 72.6 | 73.6 | 59.0% |
Top Export Markets for Wire of Other Alloy Steel from Mexico in 2022:
- United States (54.9K tons)
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