New Zealand: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in New Zealand

The New Zealand iron and steel wire market surged to $X in 2021, rising by 50% 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). Overall, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Iron and Steel Wire

Exports from New Zealand

In 2021, the amount of iron and steel wire exported from New Zealand surged to X tons, rising by 75% on 2020. Over the period under review, exports, however, faced a precipitous curtailment. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, iron and steel wire exports surged to $X in 2021. In general, exports, however, continue to indicate a drastic downturn. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Japan (X tons) and Australia (X tons) were the main destinations of iron and steel wire exports from New Zealand, with a combined 61% share of total exports. These countries were followed by Fiji, France, the UK, Chile and Samoa, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +45.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Australia ($X), the United States ($X) and Japan ($X) were the largest markets for iron and steel wire exported from New Zealand worldwide, together accounting for 64% of total exports. Fiji, France, the UK, Chile and Samoa lagged somewhat behind, together comprising a further 27%.

Among the main countries of destination, France, with a CAGR of +68.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average iron and steel wire export price amounted to $X per ton, with a decrease of -10.4% against the previous year. In general, the export price, however, posted a remarkable increase. The growth pace was the most rapid in 2017 an increase of 99%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Samoa ($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 Australia (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into New Zealand

In 2021, approx. X tons of iron and steel wire were imported into New Zealand; with an increase of 33% against 2020. The total import volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron and steel wire imports surged to $X in 2021. Over the period under review, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Australia (X tons) and Malaysia (X tons) were the main suppliers of iron and steel wire imports to New Zealand, with a combined 60% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +44.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Australia ($X) and Canada ($X) constituted the largest iron and steel wire suppliers to New Zealand, together comprising 56% of total imports. These countries were followed by South Korea, Malaysia, Indonesia and Spain, which together accounted for a further 33%.

Malaysia, with a CAGR of +40.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average iron and steel wire import price amounted to $X per ton, growing by 16% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Canada ($X per ton) and South Korea ($X per ton), while the price for Malaysia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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