Belarus: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Belarus

The Belarusian market for hot-rolled non-alloy steel wire rods soared to $X in 2021, surging by 35% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Belarus

In value terms, hot-rolled non-alloy steel wire rod production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production posted a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 50%. Over the period under review, production attained the maximum 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 from Belarus

After two years of growth, shipments abroad of hot-rolled non-alloy steel wire rods decreased by -22% to X tons in 2021. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,688% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020, and then fell rapidly in the following year.

In value terms, hot-rolled non-alloy steel wire rod exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 1,011%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X tons), Poland (X tons) and Germany (X tons) were the main destinations of hot-rolled non-alloy steel wire rod exports from Belarus, together accounting for 50% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +99.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled non-alloy steel wire rod exported from Belarus were the Netherlands ($X), Poland ($X) and Lithuania ($X), together comprising 54% of total exports.

Among the main countries of destination, Poland, with a CAGR of +95.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for hot-rolled non-alloy steel wire rods amounted to $X per ton, picking up by 71% against the previous year. In general, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Belarus

In 2021, overseas purchases of hot-rolled non-alloy steel wire rods decreased by -20.4% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports saw a noticeable decrease. The pace of growth was the most pronounced in 2017 with an increase of 30%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, hot-rolled non-alloy steel wire rod imports soared to $X in 2021. In general, imports saw a perceptible curtailment. The growth pace was the most rapid in 2017 with an increase of 82% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of hot-rolled non-alloy steel wire rod to Belarus, with a 88% share of total imports. Moreover, hot-rolled non-alloy steel wire rod imports from Russia exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. Moldova (X tons) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+125.7% per year) and Moldova (+43.2% per year).

In value terms, Russia ($X) constituted the largest supplier of hot-rolled non-alloy steel wire rods to Belarus, comprising 88% of total imports. The second position in the ranking was taken by China ($X), with a 5.9% share of total imports. It was followed by Moldova, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+140.6% per year) and Moldova (+71.2% per year).

Import Prices by Country

In 2021, the average import price for hot-rolled non-alloy steel wire rods amounted to $X per ton, jumping by 72% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Moldova (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform