Canada: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Canada

In 2022, the Canadian steel stranded wire market increased by 15% to $X, rising for the third year in a row after two years of decline. Overall, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +52.9% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Steel Stranded Wire Production in Canada

In value terms, steel stranded wire production rose remarkably to $X in 2022 estimated in export price. In general, production, however, saw a slight downturn. The pace of growth was the most pronounced in 2015 when the production volume increased by 120%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Steel Stranded Wire Exports

Exports from Canada

In 2022, overseas shipments of iron or steel stranded wire, ropes and cables decreased by -27.2% to X tons, falling for the fourth year in a row after two years of growth. In general, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2017 when exports increased by 14%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, steel stranded wire exports shrank significantly to $X in 2022. Overall, exports recorded a abrupt contraction. The growth pace was the most rapid in 2018 when exports increased by 21% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for steel stranded wire exports from Canada, with a 93% share of total exports. It was followed by China (X tons), with a 2.2% share of total exports. Chile (X tons) ranked third in terms of total exports with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-0.4% per year) and Chile (-35.3% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel stranded wire, ropes and cables exports from Canada, comprising 88% of total exports. The second position in the ranking was held by China ($X), with a 4.8% share of total exports. It was followed by Chile, with a 0.3% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+6.2% per year) and Chile (-30.8% per year).

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, rising by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United States ($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 Chile (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Canada

In 2022, supplies from abroad of iron or steel stranded wire, ropes and cables increased by 5.2% to X tons, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate a mild increase. The most prominent rate of growth was recorded in 2018 when imports increased by 356%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, steel stranded wire imports skyrocketed to $X in 2022. In general, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 34%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and Turkey (X tons) were the main suppliers of steel stranded wire imports to Canada, together accounting for 78% of total imports. South Korea, Romania, Thailand, Portugal, Germany, France and Chile lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +244.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steel stranded wire suppliers to Canada were the United States ($X), China ($X) and South Korea ($X), together comprising 72% of total imports. Germany, Thailand, Romania, Turkey, Portugal, France and Chile lagged somewhat behind, together comprising a further 13%.

Among the main suppliers, Romania, with a CAGR of +248.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average steel stranded wire import price amounted to $X per ton, jumping by 19% against the previous year. Overall, the import price saw modest growth. The pace of growth appeared the most rapid in 2015 when the average import price increased by 344%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :