Iron and Steel Wire Prices in the United States

U.S. Iron and Steel Wire Import Price per Ton in June 2022

In June 2022, the iron and steel wire price per ton stood at $2.1K (CIF, US), remaining relatively unchanged against the previous month. Over the period from January 2022 to June 2022, it increased at an average monthly rate of +1.5%. The pace of growth appeared the most rapid in May 2022 when the average import price increased by 5.4% m-o-m. As a result, import price reached the peak level of $2.1K per ton, leveling off in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($6.6K per ton), while the price for Vietnam ($1.7K per ton) was amongst the lowest.

From January 2022 to June 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

U.S. Iron and Steel Wire Import Prices by Type

There were significant differences in the average prices amongst the major supplied products. In July 2022, the product with the highest price was stainless steel wire ($6.1K per ton), while the price for iron or non-alloy steel wire, not plated or coated ($1.6K per ton) was amongst the lowest.

From January 2022 to July 2022, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel wire, plated or coated other than with base metals (+3.1%), while the prices for the other products experienced more modest paces of growth.

U.S. Iron and Steel Wire Imports

In July 2022, approximately 60K tons of iron and steel wire were imported into the United States; approximately equating June 2022 figures. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in March 2022 with an increase of 11% month-to-month. As a result, imports attained the peak of 66K tons. From April 2022 to July 2022, the growth of imports remained at a lower figure.

In value terms, iron and steel wire imports reached $126M (IndexBox estimates) in July 2022. The total import value increased at an average monthly rate of +1.3% over the period from January 2022 to July 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain months. The most prominent rate of growth was recorded in March 2022 when imports increased by 13% m-o-m.

U.S. Iron and Steel Wire Imports by Type

Iron or non-alloy steel wire, not plated or coated (23K tons), iron or non-alloy steel wire, plated or coated with zinc (14K tons) and steel alloy wire of materials other than silico-manganese steel (7.2K tons) were the main products of iron and steel wire imports to the United States, with a combined 74% share of total imports. Steel alloy wire of silico-manganese steel, stainless steel wire, iron or non-alloy steel wire, plated or coated with non-zinc base metals and iron or non-alloy steel wire, plated or coated other than with base metals lagged somewhat behind, together comprising a further 26%.

From January 2022 to July 2022, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by iron or non-alloy steel wire, plated or coated other than with base metals (with a CAGR of +3.6%), while imports for the other products experienced more modest paces of growth.

In value terms, iron or non-alloy steel wire, not plated or coated ($37M), stainless steel wire ($27M) and iron or non-alloy steel wire, plated or coated with zinc ($23M) were the most imported types of iron and steel wire in the United States, with a combined 69% share of total imports. These products were followed by steel alloy wire of materials other than silico-manganese steel, steel alloy wire of silico-manganese steel, iron or non-alloy steel wire, plated or coated with non-zinc base metals and iron or non-alloy steel wire, plated or coated other than with base metals, which together accounted for a further 31%.

U.S. Iron and Steel Wire Imports by Country

Mexico (8.9K tons), Canada (7.9K tons) and China (7.7K tons) were the main suppliers of iron and steel wire imports to the United States, with a combined 41% share of total imports.

From January 2022 to June 2022, the biggest increases were in China (with a CAGR of +6.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire suppliers to the United States were Canada ($27M), Mexico ($27M) and China ($16M), with a combined 56% share of total imports. These countries were followed by South Korea, India, Germany, Japan, Vietnam, Italy, Taiwan (Chinese) and the United Arab Emirates, which together accounted for a further 35%.

Germany, with a CAGR of +5.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform