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U.S. - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

U.S. - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

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Sep 17, 2023

Price of U.S. Steel Bar and Rod Surges 7% Reaching $995 per Ton

U.S. Hot-Rolled Steel Bar and Rod Import Price in July 2023

In July 2023, the hot-rolled steel bar and rod price stood at $995 per ton (CIF, US), surging by 6.7% against the previous month. In general, the import price, however, showed a slight descent. The pace of growth was the most pronounced in May 2023 when the average import price increased by 12% m-o-m. Over the period under review, average import prices reached the maximum at $1,277 per ton in August 2022; however, from September 2022 to July 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Turkey ($1,615 per ton), while the price for Mexico ($596 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Turkey (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

U.S. Hot-Rolled Steel Bar and Rod Import Prices By Country (USD Per Ton)
COUNTRYImport Price of Hot-Rolled Steel Bar and Rod in U.S. (USD per ton)
Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023
Turkey9357036557619647857137611,9287381,8956531,615
Japan1,2001,2341,2521,2061,2731,2571,2481,2811,2451,3131,2421,2271,456
Germany1,3951,6482,4721,4801,4181,6781,5651,5262,4992,7311,7341,6491,305
Canada1,3391,2611,2131,1581,1161,0441,1161,1021,1251,1761,1891,1971,131
Spain1,1441,4041,4849791,5992,2831,0612,3431,6407321,6592,313785
Algeria869726666589540666626603613621666636610
Mexico1,2221,1491,0831,1331,029930900826763719534508596
Average1,1741,2771,1471,2231,2431,1451,1241,0271,0991,0301,150932995

U.S. Hot-Rolled Steel Bar and Rod Import Prices by Type

Prices varied noticeably by the product type; the product with the highest price was steel, stainless ($5,747 per ton), while the price for iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling ($722 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by steel, alloy; bars and rods, hot-rolled, in irregularly wound coils (+0.9%), while the prices for the other products experienced a decline.

U.S. Hot-Rolled Steel Bar and Rod Imports

In July 2023, imports of hot-rolled steel bars and rods into the United States declined markedly to 280K tons, falling by -17.6% against the month before. Overall, imports saw a pronounced reduction. The most prominent rate of growth was recorded in June 2023 with an increase of 49% m-o-m.

In value terms, hot-rolled steel bar and rod imports shrank to $278M (IndexBox estimates) in July 2023. In general, imports recorded a pronounced setback. The most prominent rate of growth was recorded in April 2023 when imports increased by 30% against the previous month.

U.S. Hot-Rolled Steel Bar and Rod Imports by Type

In July 2023, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (155K tons) constituted the largest type of hot-rolled steel bar and rod supplied to the United States, accounting for a 56% share of total imports. Moreover, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling exceeded the figures recorded for the second-largest type, iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (67K tons), twofold. Steel, alloy; bars and rods, hot-rolled, in irregularly wound coils (35K tons) ranked third in terms of total imports with a 12% share.

From July 2022 to July 2023, the average monthly growth rate of the volume of import of iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling was relatively modest. With regard to the other supplied products, the following average monthly rates of growth were recorded: iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (-7.2% per month) and steel, alloy; bars and rods, hot-rolled, in irregularly wound coils (-2.9% per month).

In value terms, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling ($112M), iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($64M) and steel, alloy; bars and rods, hot-rolled, in irregularly wound coils ($51M) were the most imported types of hot-rolled steel bars and rods in the United States, with a combined 81% share of total imports. Hot-rolled bars in bearing steels, hot-rolled wire rod in coil of stainless steel, steel, stainless and hot-rolled round bars of stainless steel lagged somewhat behind, together comprising a further 19%.

U.S. Hot-Rolled Steel Bar and Rod Imports by Country

Canada (65K tons), Egypt (61K tons) and Japan (31K tons) were the main suppliers of hot-rolled steel bar and rod imports to the United States, with a combined 56% share of total imports. These countries were followed by Algeria, Mexico, Spain, Brazil, Germany and Turkey, which together accounted for a further 34%.

From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +12.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel bar and rod suppliers to the United States were Canada ($73M), Japan ($45M) and Egypt ($39M), with a combined 57% share of total imports.

In terms of the main suppliers, Egypt, with a CAGR of +8.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in the U.S.. 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 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
  • Prodcom 24106120 - Wire rod of free-cutting steel
  • Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
  • Prodcom 24106140 - Wire rod for tyre cord
  • Prodcom 24106190 - Other wire rod (of non-alloy steel)
  • Prodcom 24106210 - Hot-rolled concrete reinforcing bars
  • Prodcom 24106230 - Hot-rolled bars in free-cutting steels
  • Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
  • Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
  • Prodcom 24106410 - Hot-rolled round bars, of stainless steel
  • Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
  • Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
  • Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
  • Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
  • Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
  • Prodcom 24106630 - Hot-rolled bars in bearing steels
  • Prodcom 24106640 - Hot-rolled bars in tool steels
  • Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)

Country coverage:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • 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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