Kazakhstan: Steel Stranded Wire Market 2024

Steel Stranded Wire Market Size in Kazakhstan

The Kazakh steel stranded wire market was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption continues to indicate a noticeable contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Steel Stranded Wire Exports

Exports from Kazakhstan

For the third year in a row, Kazakhstan recorded growth in overseas shipments of iron or steel stranded wire, ropes and cables, which increased by 30% to X tons in 2022. Over the period under review, exports saw a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 1,187%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, steel stranded wire exports soared to $X in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 689% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for steel stranded wire exports from Kazakhstan, accounting for a 75% share of total exports. Moreover, steel stranded wire exports to Russia exceeded the volume sent to the second major destination, Uzbekistan (X tons), sixfold. The third position in this ranking was held by Belarus (X tons), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled +139.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+47.1% per year) and Belarus (+249.9% per year).

In value terms, Russia ($X) remains the key foreign market for iron or steel stranded wire, ropes and cables exports from Kazakhstan, comprising 78% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 12% share of total exports. It was followed by Belarus, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to +128.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+35.8% per year) and Belarus (+286.6% per year).

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, with an increase of 16% against the previous year. In general, the export price saw a noticeable increase. The pace of growth appeared the most rapid in 2013 an increase of 66% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Afghanistan ($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 Belarus (+10.5%), while the prices for the other major destinations experienced mixed trend patterns.

Steel Stranded Wire Imports

Imports into Kazakhstan

In 2022, steel stranded wire imports into Kazakhstan stood at X tons, rising by 4.5% against the previous year's figure. In general, imports, however, recorded a pronounced descent. The pace of growth was the most pronounced in 2017 when imports increased by 63%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, steel stranded wire imports expanded significantly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 51% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of steel stranded wire to Kazakhstan, with a 84% share of total imports. Moreover, steel stranded wire imports from Russia exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.4% per year) and Ukraine (-29.6% per year).

In value terms, Russia ($X) constituted the largest supplier of iron or steel stranded wire, ropes and cables to Kazakhstan, comprising 72% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.3% per year) and Ukraine (-25.4% per year).

Import Prices by Country

The average steel stranded wire import price stood at $X per ton in 2022, increasing by 9.5% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel stranded wire import price increased by +73.6% against 2015 indices. The growth pace was the most rapid in 2019 an increase of 20% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :