Iraq: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2025

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

In 2021, the Iraqi market for hot-rolled non-alloy steel wire rods decreased by -44.2% to $X, falling for the third year in a row after three years of growth. In general, consumption showed a dramatic decrease. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Iraq

In 2021, the amount of hot-rolled non-alloy steel wire rods exported from Iraq soared to X tons, surging by 64% against 2020. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 115%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, hot-rolled non-alloy steel wire rod exports skyrocketed to $X in 2021. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Oman (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Iraq, accounting for a approx. 100% share of total exports.

From 2019 to 2021, the average annual rate of growth in terms of volume to Oman amounted to +121.0%.

In value terms, Oman ($X) also remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Iraq.

From 2019 to 2021, the average annual growth rate of value to Oman amounted to +136.5%.

Export Prices by Country

The average export price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, jumping by 30% against the previous year. Over the last two years, it increased at an average annual rate of +11.4%. As a result, the export price reached 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 Oman.

From 2019 to 2021, the rate of growth in terms of prices for Oman amounted to +7.0% per year.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Iraq

In 2021, supplies from abroad of hot-rolled non-alloy steel wire rods decreased by -10.9% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports faced a abrupt downturn. The pace of growth appeared the most rapid in 2013 when imports increased by 54%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports totaled $X in 2021. In general, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2017 with an increase of 62% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Iran (X tons) constituted the largest hot-rolled non-alloy steel wire rod supplier to Iraq, accounting for a 53% share of total imports. Moreover, hot-rolled non-alloy steel wire rod imports from Iran exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. The third position in this ranking was taken by Turkey (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Iran amounted to +64.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-2.0% per year) and Turkey (-28.9% per year).

In value terms, Iran ($X) constituted the largest supplier of hot-rolled non-alloy steel wire rods to Iraq, comprising 46% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 22% share of total imports. It was followed by Turkey, with an 18% share.

From 2012 to 2021, the average annual growth rate of value from Iran amounted to +56.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-5.3% per year) and Turkey (-27.9% per year).

Import Prices by Country

The average import price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, growing by 14% against the previous year. Overall, the import price, however, saw a slight descent. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 the United Arab Emirates ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform