Myanmar: Market for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) 2022

Market Size for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Myanmar

The Myanmar's iron and steel wire market was finally on the rise to reach $X in 2020, after two years of decline. Overall, consumption showed significant growth. The most prominent rate of growth was recorded in 2009 with an increase of X% year-to-year. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2020, consumption failed to regain the momentum.

Exports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Exports from Myanmar

In 2020, shipments abroad of wire of iron or non-alloy steel (stainless steel or other alloy steel) was finally on the rise to reach X tons after three years of decline. Overall, exports saw a significant increase. As a result, exports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron and steel wire exports soared to $X in 2020. In general, exports showed a relatively flat trend pattern. Exports peaked at $X in 2011; however, from 2012 to 2020, exports remained at a lower figure.

Exports by Country

The U.S. (X tons) was the main destination for iron and steel wire exports from Myanmar, accounting for a X% share of total exports. It was followed by Vietnam (X tons), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of volume to the U.S. was relatively modest.

In value terms, the U.S. ($X) emerged as the key foreign market for iron and steel wire exports from Myanmar, comprising X% of total exports. The second position in the ranking was occupied by Vietnam ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to the U.S. was relatively modest.

Export Prices by Country

In 2020, the average iron and steel wire export price amounted to $X per ton, declining by -X% against the previous year. Over the period under review, the export price recorded a significant decrease. The most prominent rate of growth was recorded in 2019 an increase of X% y-o-y. As a result, export price reached the peak level of $X per ton, and then dropped markedly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was Vietnam ($X per ton), while the average price for exports to the U.S. stood at $X per ton.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S..

Imports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Imports into Myanmar

In 2020, overseas purchases of wire of iron or non-alloy steel (stainless steel or other alloy steel) were finally on the rise to reach X tons after two years of decline. In general, imports showed a significant expansion. The pace of growth appeared the most rapid in 2009 with an increase of X% year-to-year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2020, imports remained at a lower figure.

In value terms, iron and steel wire imports soared to $X in 2020. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2009 when imports increased by X% year-to-year. Imports peaked at $X in 2017; however, from 2018 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, China (X tons) constituted the largest iron and steel wire supplier to Myanmar, with a X% share of total imports. Moreover, iron and steel wire imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold.

From 2007 to 2020, the average annual growth rate of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and the United Arab Emirates (+X% per year).

In value terms, China ($X) constituted the largest supplier of iron and steel wire to Myanmar, comprising X% of total imports. The second position in the ranking was occupied by Thailand ($X), with a X% share of total imports.

From 2007 to 2020, the average annual growth rate of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and the United Arab Emirates (+X% per year).

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2020, increasing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% year-to-year. As a result, import price reached the peak level of $X per ton. from 2009 to 2020, the growth in terms of the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Thailand ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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