Report Update Nov 1, 2024

Canada - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

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Canada: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Canada

In 2021, the Canadian market for hot-rolled steel bars and rods was finally on the rise to reach $X after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2021.

Production of Hot-Rolled Steel Bars and Rods in Canada

In value terms, hot-rolled steel bar and rod production reached $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 41%. Hot-rolled steel bar and rod production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Canada

In 2021, shipments abroad of hot-rolled steel bars and rods was finally on the rise to reach X tons after three years of decline. Over the period under review, exports saw a relatively flat trend pattern. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled steel bar and rod exports surged to $X in 2021. Overall, total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for hot-rolled steel bar and rod exports from Canada, with a 83% share of total exports. Moreover, hot-rolled steel bar and rod exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Canada, comprising 83% of total exports. The second position in the ranking was held by Mexico ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

In 2021, the average export price for hot-rolled steel bars and rods amounted to $X per ton, rising by 40% against the previous year. In general, the export price showed a slight expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.1%).

Imports of Hot-Rolled Steel Bars and Rods

Imports into Canada

After two years of decline, overseas purchases of hot-rolled steel bars and rods increased by 59% to X tons in 2021. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel bar and rod imports surged to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Turkey (X tons) and Vietnam (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Canada, together comprising 71% of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +409.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of hot-rolled steel bars and rods to Canada, comprising 37% of total imports. The second position in the ranking was held by Turkey ($X), with an 18% share of total imports. It was followed by Vietnam, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.2% per year) and Vietnam (+309.2% per year).

Import Prices by Country

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2021, picking up by 6.5% against the previous year. Overall, the import price, however, saw a mild decrease. The most prominent rate of growth was recorded in 2017 an increase of 21% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for bars and rods of iron or steel (hot-rolled) in the world?

China remains the largest iron bar consuming country worldwide, accounting for 72% of total volume. Moreover, iron bar consumption in China exceeded the figures recorded by the second-largest consumer, India, more than tenfold.

What are the largest producers of bars and rods of iron or steel (hot-rolled) in the world?

China remains the largest iron bar producing country worldwide, accounting for 73% of total volume. Moreover, iron bar production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. South Korea ranked third in terms of total production with a 2.6% share.

What are the leading suppliers of bars and rods of iron or steel (hot-rolled) to Canada?

In value terms, the largest iron bar suppliers to Canada were the United States, Italy and Vietnam, with a combined 61% share of total imports. China, Mexico, Germany, Algeria, Turkey, Singapore, Oman and Malaysia lagged somewhat behind, together accounting for a further 28%.

What are the leading importers of bars and rods of iron or steel (hot-rolled) from Canada?

In value terms, the United States remains the key foreign market for iron bar exports from Canada, comprising 84% of total exports. The second position in the ranking was occupied by Mexico, with a 15% share of total exports.

What is the average export price for bars and rods of iron or steel (hot-rolled) in Canada?

In 2020, the average iron bar export price amounted to $752 per ton, shrinking by -9% against the previous year.

What is the average import price for bars and rods of iron or steel (hot-rolled) in Canada?

In 2020, the average iron bar import price amounted to $681 per ton, declining by -20.7% against the previous year.

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
Prodcom 24106120 - Wire rod of free-cutting steel
Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
Prodcom 24106140 - Wire rod for tyre cord
Prodcom 24106190 - Other wire rod (of non-alloy steel)
Prodcom 24106210 - Hot-rolled concrete reinforcing bars
Prodcom 24106230 - Hot-rolled bars in free-cutting steels
Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
Prodcom 24106410 - Hot-rolled round bars, of stainless steel
Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
Prodcom 24106630 - Hot-rolled bars in bearing steels
Prodcom 24106640 - Hot-rolled bars in tool steels
Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)

Country coverage:

Canada

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Canada
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023