New Zealand: Steel Railway Material Market 2024

Steel Railway Material Market Size in New Zealand

In 2022, after three years of growth, there was significant decline in the New Zealand steel railway material market, when its value decreased by -27.6% to $X. Over the period under review, consumption, however, enjoyed buoyant growth. Over the period under review, the market attained the peak level at $X in 2021, and then fell markedly in the following year.

Steel Railway Material Exports

Exports from New Zealand

In 2022, shipments abroad of railway material of steel decreased by -51% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2015 when exports increased by 516% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then shrank notably in the following year.

In value terms, steel railway material exports soared to $X in 2022. In general, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 354%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Australia (X tons) was the main destination for steel railway material exports from New Zealand, with a 76% share of total exports. Moreover, steel railway material exports to Australia exceeded the volume sent to the second major destination, Indonesia (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia amounted to +15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+16.0% per year) and Niue (0.0% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for railway material of steel exports from New Zealand, comprising 76% of total exports. The second position in the ranking was held by Australia ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia totaled +36.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-0.3% per year) and Niue (0.0% per year).

Export Prices by Country

The average steel railway material export price stood at $X per ton in 2022, jumping by 498% against the previous year. Over the period under review, the export price enjoyed measured growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Niue ($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 Indonesia (+17.4%), while the prices for the other major destinations experienced mixed trend patterns.

Steel Railway Material Imports

Imports into New Zealand

In 2022, the amount of railway material of steel imported into New Zealand reduced remarkably to X tons, waning by -25.1% on the year before. Overall, imports, however, saw a perceptible increase. The pace of growth appeared the most rapid in 2015 when imports increased by 259% against the previous year. Imports peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, steel railway material imports contracted rapidly to $X in 2022. In general, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2015 when imports increased by 150%. Over the period under review, imports hit record highs at $X in 2021, and then declined notably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest steel railway material supplier to New Zealand, with a 68% share of total imports. Moreover, steel railway material imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+9.9% per year) and Italy (+53.4% per year).

In value terms, China ($X) constituted the largest supplier of railway material of steel to New Zealand, comprising 61% of total imports. The second position in the ranking was held by Australia ($X), with a 28% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+8.0% per year) and Italy (+65.6% per year).

Import Prices by Country

The average steel railway material import price stood at $X per ton in 2022, shrinking by -4.8% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel railway material import price increased by +72.9% against 2019 indices. The growth pace was the most rapid in 2016 when the average import price increased by 55%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :