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

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

The New Zealand market for hot-rolled non-alloy steel wire rods stood at $X in 2021, surging by 4.4% against the previous year. Overall, consumption recorded a strong increase. Hot-rolled non-alloy steel wire rod consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in New Zealand

In value terms, hot-rolled non-alloy steel wire rod production rose modestly to $X in 2021 estimated in export price. Overall, production saw a remarkable increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by 37%. Hot-rolled non-alloy steel wire rod production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from New Zealand

For the fourth consecutive year, New Zealand recorded decline in shipments abroad of hot-rolled non-alloy steel wire rods, which decreased by -96.4% to X tons in 2021. Overall, exports recorded a dramatic setback. The pace of growth appeared the most rapid in 2017 when exports increased by 100%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports declined remarkably to $X in 2021. Over the period under review, exports faced a sharp reduction. The pace of growth appeared the most rapid in 2017 with an increase of 123%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Australia (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from New Zealand, with a 61% share of total exports. Moreover, hot-rolled non-alloy steel wire rod exports to Australia exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), sixfold. The third position in this ranking was held by Tonga (X tons), with a 9% share.

From 2012 to 2021, the average annual growth rate of volume to Australia totaled -49.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+530.3% per year) and Tonga (+3.4% per year).

In value terms, Saudi Arabia ($X), Australia ($X) and Tonga ($X) were the largest markets for hot-rolled non-alloy steel wire rod exported from New Zealand worldwide, with a combined 78% share of total exports.

Tonga, with a CAGR of +12.7%, recorded the highest rates of growth with regard to 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 export price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, rising by 138% against the previous year. Overall, the export price saw a buoyant expansion. 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 Saudi Arabia ($X per ton), while the average price for exports to Hong Kong SAR ($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 New Caledonia (+23.3%), 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 New Zealand

In 2021, overseas purchases of hot-rolled non-alloy steel wire rods decreased by -75.6% to X tons, falling for the fourth year in a row after four years of growth. Over the period under review, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 339% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports dropped notably to $X in 2021. Overall, imports saw a deep setback. The pace of growth was the most pronounced in 2015 when imports increased by 213%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Singapore (X tons), Taiwan (Chinese) (X tons) and Spain (X tons) were the main suppliers of hot-rolled non-alloy steel wire rod imports to New Zealand, together comprising 67% of total imports. The UK, Vietnam, Malaysia, Indonesia and Australia lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +69.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled non-alloy steel wire rod suppliers to New Zealand were Taiwan (Chinese) ($X), the UK ($X) and Singapore ($X), with a combined 66% share of total imports.

In terms of the main suppliers, the UK, with a CAGR of +76.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, jumping by 37% against the previous year. Over the period under review, the import price, however, showed a noticeable shrinkage. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform