New Zealand: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in New Zealand

In 2022, after four years of growth, there was significant decline in the New Zealand steel stranded wire market, when its value decreased by -14.4% to $X. Overall, consumption, however, recorded a resilient expansion. Steel stranded wire consumption peaked at $X in 2021, and then dropped in the following year.

Steel Stranded Wire Exports

Exports from New Zealand

In 2022, steel stranded wire exports from New Zealand surged to X tons, increasing by 41% against the previous year. In general, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 109% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, steel stranded wire exports surged to $X in 2022. Over the period under review, exports, however, faced a abrupt setback. The pace of growth was the most pronounced in 2014 when exports increased by 101% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Australia (X tons), Fiji (X tons) and Papua New Guinea (X tons) were the main destinations of steel stranded wire exports from New Zealand, together comprising 76% of total exports. Uruguay, Denmark, Germany, American Samoa and Solomon Islands lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +69.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel stranded wire exported from New Zealand were Australia ($X), Fiji ($X) and Papua New Guinea ($X), with a combined 62% share of total exports. Uruguay, Denmark, Germany, American Samoa and Solomon Islands lagged somewhat behind, together accounting for a further 13%.

Germany, with a CAGR of +71.6%, recorded the highest growth rate of the value of exports, among 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

In 2022, the average steel stranded wire export price amounted to $X per ton, shrinking by -12.9% against the previous year. In general, export price indicated mild growth 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 export price increased by +40.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 62%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat 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 Solomon Islands ($X per ton), while the average price for exports to Germany ($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 Micronesia (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into New Zealand

In 2022, supplies from abroad of iron or steel stranded wire, ropes and cables decreased by -27.8% to X tons, falling for the second year in a row after three years of growth. In general, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 90%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, steel stranded wire imports reduced to $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.6% against 2017 indices. The growth pace was the most rapid in 2014 when imports increased by 28% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

China (X tons), Indonesia (X tons) and Australia (X tons) were the main suppliers of steel stranded wire imports to New Zealand, with a combined 62% share of total imports. Malaysia, South Korea, India and Vietnam lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +59.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Indonesia ($X) and South Korea ($X) were the largest steel stranded wire suppliers to New Zealand, together accounting for 58% of total imports. Australia, India, Malaysia and Vietnam lagged somewhat behind, together comprising a further 25%.

Vietnam, with a CAGR of +51.1%, 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

The average steel stranded wire import price stood at $X per ton in 2022, growing by 29% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 47% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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