Australia and Oceania: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Australia and Oceania

The market for hot-rolled non-alloy steel wire rods in Australia and Oceania was finally on the rise to reach $X in 2021, after three years of decline. The total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -26.1% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Australia and Oceania

In value terms, hot-rolled non-alloy steel wire rod production rose slightly to $X in 2021 estimated in export price. In general, production posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 37%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports in Australia and Oceania

For the fourth consecutive year, Australia and Oceania recorded decline in overseas shipments of hot-rolled non-alloy steel wire rods, which decreased by -91.2% to X tons in 2021. In general, exports faced a sharp curtailment. The pace of growth was the most pronounced in 2017 with an increase of 40% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports reduced sharply to $X in 2021. Over the period under review, exports saw a significant curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 43%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

New Zealand (X tons) and Australia (X tons) represented roughly 76% of total exports in 2021. It was distantly followed by New Caledonia (X tons), mixing up a 24% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by New Caledonia (with a CAGR of +31.3%), while the other leaders experienced a decline in the exports figures.

In value terms, Australia ($X), New Zealand ($X) and New Caledonia ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 99.9% of total exports.

In terms of the main exporting countries, New Caledonia, with a CAGR of +35.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per ton, jumping by 146% against the previous year. Over the period under review, the export price recorded a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+8.0%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports in Australia and Oceania

In 2021, supplies from abroad of hot-rolled non-alloy steel wire rods decreased by -20.7% to X tons, falling for the fourth year in a row after four years of growth. Overall, imports recorded a significant curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 41%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports reached $X in 2021. Over the period under review, imports showed a sharp decline. The pace of growth appeared the most rapid in 2017 with an increase of 47%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, New Caledonia (X tons) represented the largest importer of hot-rolled non-alloy steel wire rods, mixing up 48% of total imports. It was distantly followed by New Zealand (X tons), Solomon Islands (X tons), Papua New Guinea (X tons), Australia (X tons) and Guam (X tons), together making up a 41% share of total imports. Palau (X tons) followed a long way behind the leaders.

Imports into New Caledonia decreased at an average annual rate of -14.7% from 2012 to 2021. At the same time, Solomon Islands (+24.9%), Guam (+11.0%) and Palau (+9.2%) displayed positive paces of growth. Moreover, Solomon Islands emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +24.9% from 2012-2021. By contrast, Papua New Guinea (-9.1%), New Zealand (-12.5%) and Australia (-49.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of New Caledonia, New Zealand, Solomon Islands, Guam, Papua New Guinea and Palau increased by +41, +13, +8.7, +5.6, +5.6 and +3.3 percentage points, respectively.

In value terms, New Caledonia ($X) constitutes the largest market for imported hot-rolled non-alloy steel wire rods in Australia and Oceania, comprising 48% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 14% share of total imports. It was followed by Solomon Islands, with a 9.8% share.

In New Caledonia, hot-rolled non-alloy steel wire rod imports declined by an average annual rate of -13.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (-14.8% per year) and Solomon Islands (+26.0% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, surging by 33% against the previous year. Overall, the import price showed a slight expansion. The growth pace was the most rapid in 2018 an increase of 36% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Papua New Guinea ($X per ton), while Palau ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guam (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform