Iran: Market for Iron and Steel Wire 2025

Market Size for Iron and Steel Wire in Iran

The Iranian iron and steel wire market shrank remarkably to $X in 2021, reducing by -35.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a sharp contraction. Iron and steel wire consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Exports of Iron and Steel Wire

Exports from Iran

Iron and steel wire exports from Iran surged to X tons in 2021, increasing by 110% compared with the year before. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 628% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron and steel wire exports soared to $X in 2021. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 383%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Georgia (X tons), Azerbaijan (X tons) and Armenia (X tons) were the main destinations of iron and steel wire exports from Iran, together comprising 81% of total exports. Turkey, Iraq, Oman and Tajikistan lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the biggest increases were recorded for Tajikistan (with a CAGR of +608.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel wire exported from Iran were Azerbaijan ($X), Georgia ($X) and Armenia ($X), together comprising 73% of total exports. Turkey, Tajikistan, Iraq and Oman lagged somewhat behind, together accounting for a further 22%.

Tajikistan, with a CAGR of +625.4%, recorded 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 iron and steel wire export price stood at $X per ton in 2021, declining by -25.4% against the previous year. Overall, the export price continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2020 an increase of 46%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tajikistan ($X per ton), while the average price for exports to Oman ($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 Azerbaijan (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into Iran

In 2021, purchases abroad of iron and steel wire was finally on the rise to reach X tons for the first time since 2014, thus ending a six-year declining trend. In general, imports, however, faced a deep slump. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports expanded modestly to $X in 2021. Over the period under review, imports, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2014 with an increase of 26% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest iron and steel wire supplier to Iran, with a 79% share of total imports. Moreover, iron and steel wire imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-23.2% per year) and Taiwan (Chinese) (-18.6% per year).

In value terms, China ($X) constituted the largest supplier of iron and steel wire to Iran, comprising 74% of total imports. The second position in the ranking was taken by South Korea ($X), with a 6% share of total imports. It was followed by India, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-24.1% per year) and India (-9.8% per year).

Import Prices by Country

In 2021, the average iron and steel wire import price amounted to $X per ton, declining by -3.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 18% against the previous year. The import price peaked at $X per ton in 2020, and then shrank modestly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+23.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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