U.S. Steel Wire Market. Analysis And Forecast to 2030
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View PricingAmerican Steel Wire Price Experiences Slight Decrease to $1,830 per Ton
U.S. Steel Wire Import Price in December 2022
In December 2022, the steel wire price amounted to $1,830 per ton (CIF, US), declining by -7.9% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in May 2022 an increase of 5.2% m-o-m. Over the period under review, average import prices hit record highs at $2,053 per ton in September 2022; however, from October 2022 to December 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was India ($2,376 per ton), while the price for China ($1,247 per ton) was amongst the lowest.
From January 2022 to December 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Steel Wire Imports
In December 2022, approximately 109K tons of steel wire were imported into the United States; which is down by -7.3% against November 2022 figures. In general, imports continue to indicate a pronounced setback. The pace of growth was the most pronounced in March 2022 when imports increased by 13% against the previous month. Over the period under review, imports hit record highs at 157K tons in May 2022; however, from June 2022 to December 2022, imports remained at a lower figure.
In value terms, steel wire imports shrank to $200M (IndexBox estimates) in December 2022. Overall, imports recorded a noticeable downturn. The growth pace was the most rapid in March 2022 with an increase of 18% month-to-month. Imports peaked at 303K tons in May 2022; however, from June 2022 to December 2022, imports stood at a somewhat lower figure.
U.S. Steel Wire Imports by Country
China (26K tons), Mexico (21K tons) and Canada (11K tons) were the main suppliers of steel wire imports to the United States, with a combined 53% share of total imports. India, Thailand, Taiwan (Chinese), South Korea, Malaysia, Vietnam, Lithuania, Sri Lanka, Turkey and the United Arab Emirates lagged somewhat behind, together comprising a further 34%.
From January 2022 to December 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +3.5%), while imports for the other leaders experienced mixed trend patterns.
In value terms, China ($33M), Mexico ($28M) and Canada ($24M) constituted the largest steel wire suppliers to the United States, together comprising 43% of total imports. India, South Korea, Taiwan (Chinese), Thailand, Lithuania, Malaysia, Vietnam, Sri Lanka, the United Arab Emirates and Turkey lagged somewhat behind, together accounting for a further 35%.
Among the main suppliers, Lithuania, with a CAGR of +6.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Key Factors Influencing the American Steel Wire Price Fluctuations
Global economic conditions: A slowdown in the global economy has led to reduced demand for steel wire, particularly in the construction and automotive sectors. This decrease in demand has, in turn, contributed to the price reduction.
Trade policies: The relaxation of tariffs and trade restrictions, as well as international trade agreements, have played a role in the price adjustment. These changes have allowed for increased competition in the market and contributed to the downward pressure on prices.
Production costs: Advancements in technology and manufacturing processes have led to more efficient and cost-effective production methods, reducing overall production costs for steel wire manufacturers. This has allowed for a decrease in the selling price while maintaining profitability.
Market competition: The American steel wire market has become increasingly competitive, with domestic and international players vying for a share of the market. This heightened competition has contributed to the slight price reduction as companies strive to attract customers.
Currency fluctuations: Changes in currency exchange rates can also impact the price of steel wire. As the US dollar strengthens or weakens against other currencies, this can directly affect the cost of raw materials and subsequently influence the price of steel wire.
This report provides an in-depth analysis of the steel wire market 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:
- NAICS 3311109 - Steel wire, including galvanized and other coated wire, made in steel mills producing wire rods or hot rolled bars
- NAICS 331222 - Steel wire drawing
Companies mentioned:
- Fort Wayne Metals Research Products Corp
- Bekaert Corporation
- Master-Halco, Gafp
- Insteel Industries
- Taubensee Steel & Wire Company
- The Heico Companies L L C
- Suncoast Post-Tension
- Southwestern Wire
- Draka Elevator Products
- Zapp Precision Wire
- Tappan Wire & Cable Inc.
- Tokusen U.S.A., Hamrock
- Davis Wire Corporation
- Laclede Chain Manufacturing Company
- National-Standard
- Owl Wire & Cable
- Barrette Outdoor Living
- Loos & Co.
- Mount Joy Wire Corporation
- Central Wire
- Tree Island Wire (usa)
- American Manufacturing
- United Wire Hanger Corp
- Bekaert North America Management Corporation
- Insteel Wire Products Company
- National Material Company
- The Gehr Group
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
