Northern America: Market for Hot-Rolled Bars Of Silico-Manganese Steel 2024

Market Size for Hot-Rolled Bars Of Silico-Manganese Steel in Northern America

The North American hot-rolled silico-manganese steel bar market reduced to $X in 2021, shrinking by -6.9% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Hot-Rolled Bars Of Silico-Manganese Steel in Northern America

In value terms, hot-rolled silico-manganese steel bar production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Exports of Hot-Rolled Bars Of Silico-Manganese Steel

Exports in Northern America

In 2021, exports of hot-rolled bars of silico-manganese steel in Northern America contracted significantly to X tons, declining by -45% compared with the year before. Overall, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of 218%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled silico-manganese steel bar exports shrank markedly to $X in 2021. Over the period under review, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2019 when exports increased by 72%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, the United States (X tons) was the largest exporter of hot-rolled bars of silico-manganese steel in Northern America, comprising 99% of total export.

The United States was also the fastest-growing in terms of the hot-rolled bars of silico-manganese steel exports, with a CAGR of -12.0% from 2012 to 2021. While the share of the United States (+27 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) also remains the largest hot-rolled silico-manganese steel bar supplier in Northern America.

From 2012 to 2021, the average annual growth rate of value in the United States amounted to -10.2%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, with an increase of 36% against the previous year. Export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled silico-manganese steel bar export price increased by +101.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 48% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +2.0% per year.

Imports of Hot-Rolled Bars Of Silico-Manganese Steel

Imports in Northern America

In 2021, purchases abroad of hot-rolled bars of silico-manganese steel decreased by -31.4% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when imports increased by 113%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled silico-manganese steel bar imports declined remarkably to $X in 2021. Overall, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 120% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Canada was the largest importing country with an import of about X tons, which reached 63% of total imports. It was distantly followed by the United States (X tons), comprising a 32% share of total imports. Greenland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Greenland (with a CAGR of +90.3%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Canada ($X) constitutes the largest market for imported hot-rolled bars of silico-manganese steel in Northern America, comprising 68% of total imports. The second position in the ranking was taken by the United States ($X), with a 28% share of total imports.

In Canada, hot-rolled silico-manganese steel bar imports decreased by an average annual rate of -5.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United States (-13.4% per year) and Greenland (+100.0% per year).

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, reducing by -4.3% against the previous year. Over the period under review, the import price, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 an increase of 163% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined slightly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while Greenland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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