Iran: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Iran

The Iranian market for hot-rolled non-alloy steel wire rods rose slightly to $X in 2021, growing by 3.5% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2021.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Iran

In value terms, hot-rolled non-alloy steel wire rod production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 23% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Iran

In 2021, overseas shipments of hot-rolled non-alloy steel wire rods increased by 216% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports enjoyed significant growth. The growth pace was the most rapid in 2016 when exports increased by 466% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports soared to $X in 2021. Over the period under review, exports saw a significant increase. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Uzbekistan (X tons), Armenia (X tons) and Georgia (X tons) were the main destinations of hot-rolled non-alloy steel wire rod exports from Iran, with a combined 52% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uzbekistan (with a CAGR of +861.5%), while the other leaders experienced more modest paces of growth.

In value terms, Armenia ($X), Uzbekistan ($X) and Georgia ($X) appeared to be the largest markets for hot-rolled non-alloy steel wire rod exported from Iran worldwide, together accounting for 51% of total exports.

In terms of the main countries of destination, Uzbekistan, with a CAGR of +946.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, rising by 52% against the previous year. Overall, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Uzbekistan ($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 Germany (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Iran

In 2021, approx. X tons of hot-rolled non-alloy steel wire rods were imported into Iran; dropping by -14% compared with the previous year's figure. In general, imports recorded a significant contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 161%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports declined to $X in 2021. Overall, imports recorded a dramatic slump. The pace of growth was the most pronounced in 2015 with an increase of 90%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Ukraine (X tons) constituted the largest supplier of hot-rolled non-alloy steel wire rod to Iran, with a 51% share of total imports. Moreover, hot-rolled non-alloy steel wire rod imports from Ukraine exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from Ukraine stood at -23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-23.4% per year) and Germany (-11.9% per year).

In value terms, the largest hot-rolled non-alloy steel wire rod suppliers to Iran were Turkey ($X), Ukraine ($X) and Germany ($X), together comprising 84% of total imports.

Germany, with a CAGR of -10.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, surging by 10% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 70% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average 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 South Korea ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform