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

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

The Brazilian free-cutting steel wire rod market soared to $X in 2022, with an increase of X% against the previous year. In general, consumption, however, recorded a abrupt setback. Free-cutting steel wire rod consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Wire Rod Of Free-Cutting Steel in Brazil

In value terms, free-cutting steel wire rod production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Wire Rod Of Free-Cutting Steel

Exports from Brazil

In 2022, the amount of wire rod of free-cutting steel exported from Brazil expanded markedly to X tons, with an increase of X% on the previous year. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, free-cutting steel wire rod exports surged to $X in 2022. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for free-cutting steel wire rod exports from Brazil, accounting for a X% share of total exports. Moreover, free-cutting steel wire rod exports to the United States exceeded the volume sent to the second major destination, Ecuador (X tons), threefold. The third position in this ranking was held by Colombia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Colombia (X% per year).

In value terms, the United States ($X) remains the key foreign market for wire rod of free-cutting steel exports from Brazil, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Colombia (X% per year).

Export Prices by Country

The average free-cutting steel wire rod export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Colombia ($X per ton) and the United States ($X per ton), while the average price for exports to Ecuador ($X per ton) and Argentina ($X per ton) were amongst the lowest.

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

Imports of Wire Rod Of Free-Cutting Steel

Imports into Brazil

In 2022, overseas purchases of wire rod of free-cutting steel increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, recorded a deep setback. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, free-cutting steel wire rod imports surged to $X in 2022. Overall, imports, however, continue to indicate a deep setback. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Argentina (X tons) was the main supplier of free-cutting steel wire rod to Brazil, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Argentina stood at X%.

In value terms, Argentina ($X) constituted the largest supplier of wire rod of free-cutting steel to Brazil.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina stood at X%.

Import Prices by Country

In 2022, the average free-cutting steel wire rod import price amounted to $X per ton, surging by X% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, free-cutting steel wire rod import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Argentina.

From 2012 to 2022, the rate of growth in terms of prices for Argentina amounted to X% per year.

Source: IndexBox Platform

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