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India - Iron Or Steel Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

India - Iron Or Steel Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends And Insights

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Aug 24, 2023

India's Steel Stranded Wire Price Plummets to $1,652 per Ton

India Steel Stranded Wire Import Price in May 2023

In May 2023, the steel stranded wire price stood at $1,652 per ton (CIF, India), dropping by -11.4% against the previous month. In general, the import price showed a noticeable downturn. The most prominent rate of growth was recorded in January 2023 an increase of 8% m-o-m. The import price peaked at $2,391 per ton in July 2022; however, from August 2022 to May 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($2,117 per ton), while the price for Thailand ($1,172 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+0.2%), while the prices for the other major suppliers experienced a decline.

India Steel Stranded Wire Import Prices By Country (USD Per Ton)
COUNTRYImport Price of Steel Stranded Wire in India (USD per ton)
May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023
Malaysia2,0682,3082,0042,0392,2612,2322,0181,9912,0822,0571,9482,0162,117
Vietnam2,1022,3102,3002,2262,2852,2102,3101,9212,1171,7701,7991,7231,975
Indonesia2,1122,0522,1192,1762,1842,2372,0322,0011,9451,7391,7171,8281,715
China2,2002,1712,1362,1902,0652,0321,8321,6931,7571,7231,7661,7181,670
Thailand2,8342,9862,9923,0353,0102,8341,6651,0191,1961,2661,2152,0961,172
Average2,2822,3782,3912,2882,2242,2682,0881,6621,7961,7151,8401,8651,652

India Steel Stranded Wire Imports

In May 2023, imports of iron or steel stranded wire, ropes and cables into India surged to 15K tons, with an increase of 52% against the previous month. In general, total imports indicated strong growth from May 2022 to May 2023: its volume increased at an average monthly rate of +5.2% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on May 2023 figures, imports increased by +52.4% against April 2023 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, steel stranded wire imports soared to $24M (IndexBox estimates) in May 2023. The total import value increased at an average monthly rate of +2.4% over the period from May 2022 to May 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months.

India Steel Stranded Wire Imports by Country

China (7.5K tons), Thailand (4.3K tons) and Malaysia (1K tons) were the main suppliers of steel stranded wire imports to India, together accounting for 88% of total imports.

From May 2022 to May 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +21.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($12M) constituted the largest supplier of steel stranded wire to India, comprising 52% of total imports. The second position in the ranking was taken by Thailand ($5.1M), with a 21% share of total imports. It was followed by Malaysia, with an 8.8% share.

From May 2022 to May 2023, the average monthly growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Thailand (+12.5% per month) and Malaysia (-1.3% per month).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the steel stranded wire market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)

Country coverage:

  • India

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in India
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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