Argentina: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in Argentina

In 2022, the Argentinian free-cutting steel wire rod market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded a modest increase. As a result, consumption reached the peak level of $X, and then shrank significantly in the following year.

Production of Wire Rod Of Free-Cutting Steel in Argentina

In value terms, free-cutting steel wire rod production stood at $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Wire Rod Of Free-Cutting Steel

Exports from Argentina

In 2022, shipments abroad of wire rod of free-cutting steel was finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, free-cutting steel wire rod exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons), Brazil (X tons) and China (X tons) were the main destinations of free-cutting steel wire rod exports from Argentina.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the Dominican Republic ($X) remains the key foreign market for wire rod of free-cutting steel exports from Argentina, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Dominican Republic stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and China (X% per year).

Export Prices by Country

The average free-cutting steel wire rod export price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced a decline.

Imports of Wire Rod Of Free-Cutting Steel

Imports into Argentina

In 2022, the amount of wire rod of free-cutting steel imported into Argentina skyrocketed to X tons, picking up by X% against 2021. In general, imports enjoyed a significant increase. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, free-cutting steel wire rod imports soared to $X in 2022. Over the period under review, imports recorded significant growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of free-cutting steel wire rod to Argentina, accounting for a X% share of total imports. Moreover, free-cutting steel wire rod imports from India exceeded the figures recorded by the second-largest supplier, Brazil (X tons), ninefold.

From 2013 to 2022, the average annual growth rate of volume from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Germany (X% per year).

In value terms, India ($X) constituted the largest supplier of wire rod of free-cutting steel to Argentina, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of value from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the average free-cutting steel wire rod import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price showed a temperate expansion. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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