China: Steel Plaited Band Market 2024

Steel Plaited Band Market Size in China

The Chinese steel plaited band market fell to $X in 2022, declining by -9.8% against the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, consumption reached the peak level of $X, and then fell in the following year.

Steel Plaited Band Production in China

In value terms, steel plaited band production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by 24% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Steel Plaited Band Exports

Exports from China

In 2022, steel plaited band exports from China surged to X tons, with an increase of 44% on the previous year. Overall, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 66%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, steel plaited band exports surged to $X in 2022. Over the period under review, exports recorded a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Dominican Republic (X tons), the United States (X tons) and Japan (X tons) were the main destinations of steel plaited band exports from China, together comprising 26% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +145.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel plaited band exported from China were the United States ($X), the Dominican Republic ($X) and Japan ($X), together comprising 29% of total exports.

The Dominican Republic, with a CAGR of +149.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steel plaited band export price stood at $X per ton in 2022, with an increase of 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 an increase of 33% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Madagascar ($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 the Philippines (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Plaited Band Imports

Imports into China

In 2022, the amount of iron or steel plaited bands and slings imported into China reduced dramatically to X tons, which is down by -42.9% against the previous year's figure. Overall, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2021 when imports increased by 53%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, steel plaited band imports contracted rapidly to $X in 2022. In general, imports showed a pronounced curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 48%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest steel plaited band supplier to China, accounting for a 28% share of total imports. Moreover, steel plaited band imports from France exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume from France amounted to +35.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+21.4% per year) and South Korea (-19.9% per year).

In value terms, the largest steel plaited band suppliers to China were France ($X), the United States ($X) and Canada ($X), with a combined 52% share of total imports.

Among the main suppliers, Canada, with a CAGR of +31.2%, 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

The average steel plaited band import price stood at $X per ton in 2022, surging by 38% against the previous year. In general, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+44.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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