Canada: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Canada

After two years of decline, the Canadian market for ribbed or other deformed wire rod of non-alloy steel increased by 5.1% to $X in 2021. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Canada

In value terms, deformed non-alloy steel wire rod production stood at $X in 2021 estimated in export price. In general, the total production indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.6% against 2018 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 69%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports from Canada

In 2021, approx. X tons of ribbed or other deformed wire rod of non-alloy steel were exported from Canada; jumping by 1,702% against 2020 figures. In general, exports, however, faced a sharp descent. The most prominent rate of growth was recorded in 2019 when exports increased by 2,964%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod exports soared to $X in 2021. Overall, exports, however, recorded a sharp decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for deformed non-alloy steel wire rod exports from Canada, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -26.0%.

In value terms, the United States ($X) also remains the key foreign market for ribbed or other deformed wire rod of non-alloy steel exports from Canada.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -21.3%.

Export Prices by Country

The average export price for ribbed or other deformed wire rod of non-alloy steel stood at $X per ton in 2021, surging by 71% against the previous year. Overall, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, deformed non-alloy steel wire rod export price increased by +48.7% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +6.4% per year.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports into Canada

In 2021, purchases abroad of ribbed or other deformed wire rod of non-alloy steel increased by 9.2% to X tons, rising for the third consecutive year after three years of decline. In general, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2020 with an increase of 326%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, deformed non-alloy steel wire rod imports soared to $X in 2021. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 192% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

Turkey (X tons), the United States (X tons) and Thailand (X tons) were the main suppliers of deformed non-alloy steel wire rod imports to Canada, with a combined 96% share of total imports. These countries were followed by Mexico, which accounted for a further 3.9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +120.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United States ($X) and Thailand ($X) appeared to be the largest deformed non-alloy steel wire rod suppliers to Canada, together comprising 95% of total imports. These countries were followed by Mexico, which accounted for a further 4.3%.

Mexico, with a CAGR of +122.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for ribbed or other deformed wire rod of non-alloy steel amounted to $X per ton, picking up by 56% against the previous year. In general, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Mexico ($X per ton), while the price for Thailand ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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