Pakistan: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Pakistan

In 2022, the Pakistani steel stranded wire market increased by 13% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a temperate expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Steel Stranded Wire Exports

Exports from Pakistan

In 2022, overseas shipments of iron or steel stranded wire, ropes and cables increased by 117% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, saw a dramatic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 415% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel stranded wire exports reached $X in 2022. Over the period under review, exports, however, showed a significant contraction. The most prominent rate of growth was recorded in 2018 with an increase of 134%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Tanzania (X tons) was the main destination for steel stranded wire exports from Pakistan, accounting for a 96% share of total exports. It was followed by the UK (X kg), with a 2.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Tanzania amounted to +59.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-28.1% per year) and the United Arab Emirates (-14.3% per year).

In value terms, Tanzania ($X) remains the key foreign market for iron or steel stranded wire, ropes and cables exports from Pakistan, comprising 90% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 8.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Tanzania stood at +59.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-1.9% per year) and the UK (-30.7% per year).

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, dropping by -49.6% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 67%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to the UK ($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 the United Arab Emirates (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Pakistan

In 2022, the amount of iron or steel stranded wire, ropes and cables imported into Pakistan fell to X tons, shrinking by -9.8% against the year before. In general, imports, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2017 with an increase of 88%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, steel stranded wire imports soared to $X in 2022. Over the period under review, imports, however, posted a notable expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 67%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest steel stranded wire supplier to Pakistan, accounting for a 69% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fivefold. The third position in this ranking was held by Hong Kong SAR (X tons), with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+7.1% per year) and Hong Kong SAR (+30.5% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel stranded wire, ropes and cables to Pakistan, comprising 70% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.4% share of total imports. It was followed by Hong Kong SAR, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.7% per year) and Hong Kong SAR (+33.5% per year).

Import Prices by Country

The average steel stranded wire import price stood at $X per ton in 2022, growing by 42% against the previous year. Over the period under review, the import price, however, showed a slight decrease. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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