China: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2025

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

In 2021, the Chinese market for ribbed or other deformed wire rod of non-alloy steel increased by 1.2% to $X, rising for the fifth year in a row after three years of decline. In general, consumption, however, saw a relatively flat trend pattern. Deformed non-alloy steel wire rod consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, deformed non-alloy steel wire rod production declined modestly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 19%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

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

Exports from China

In 2021, overseas shipments of ribbed or other deformed wire rod of non-alloy steel decreased by -27% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 190% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod exports fell to $X in 2021. In general, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 208%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Myanmar (X tons) was the main destination for deformed non-alloy steel wire rod exports from China, accounting for a 61% share of total exports. Moreover, deformed non-alloy steel wire rod exports to Myanmar exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), ninefold. The third position in this ranking was held by Mongolia (X tons), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume to Myanmar amounted to +19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+49.4% per year) and Mongolia (+47.5% per year).

In value terms, Myanmar ($X) remains the key foreign market for ribbed or other deformed wire rod of non-alloy steel exports from China, comprising 56% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 7.3% share of total exports. It was followed by Malaysia, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Myanmar stood at +17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+47.3% per year) and Malaysia (+159.1% per year).

Export Prices by Country

In 2021, the average export price for ribbed or other deformed wire rod of non-alloy steel amounted to $X per ton, increasing by 27% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 39% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belarus (+38.6%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into China

For the third year in a row, China recorded growth in purchases abroad of ribbed or other deformed wire rod of non-alloy steel, which increased by 250% to X tons in 2021. Over the period under review, imports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 26,192% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, deformed non-alloy steel wire rod imports soared to $X in 2021. Overall, imports showed a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 12,688% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Malaysia (X tons) was the main deformed non-alloy steel wire rod supplier to China, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Malaysia stood at +251.2%.

In value terms, Malaysia ($X) constituted the largest supplier of ribbed or other deformed wire rod of non-alloy steel to China.

From 2012 to 2021, the average annual growth rate of value from Malaysia amounted to +121.4%.

Import Prices by Country

The average import price for ribbed or other deformed wire rod of non-alloy steel stood at $X per ton in 2021, with a decrease of -37% against the previous year. In general, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 56%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Malaysia amounted to -37.0% per year.

Source: IndexBox Platform

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