Romania: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in Romania

In 2021, the Romanian iron and steel wire market increased by 23% to $X, rising for the second year in a row after three years of decline. Over the period under review, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +90.6% against 2019 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Production of Iron and Steel Wire in Romania

In value terms, iron and steel wire production soared to $X in 2021 estimated in export price. Over the period under review, production enjoyed a tangible expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Iron and Steel Wire

Exports from Romania

In 2021, after three years of decline, there was significant growth in overseas shipments of iron and steel wire, when their volume increased by 28% to X tons. Overall, exports, however, saw a pronounced decline. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron and steel wire exports skyrocketed to $X in 2021. Over the period under review, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Poland (X tons) and Hungary (X tons) were the main destinations of iron and steel wire exports from Romania, together accounting for 56% of total exports. The Czech Republic, Luxembourg, Germany, Slovakia, the Netherlands, Italy, Serbia, Canada, Spain and the United States lagged somewhat behind, together comprising a further 60%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +314.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) emerged as the key foreign market for iron and steel wire exports from Romania, comprising 62% of total exports. The second position in the ranking was held by Germany ($X), with a 5.7% share of total exports. It was followed by Poland, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +161.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+22.9% per year) and Poland (+0.5% per year).

Export Prices by Country

The average iron and steel wire export price stood at $X per ton in 2021, jumping by 281% against the previous year. In general, the export price posted prominent growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United States ($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 Luxembourg (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into Romania

In 2021, approx. X tons of iron and steel wire were imported into Romania; reducing by -4.9% compared with the previous year. Overall, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +66.1% against 2017 indices. The growth pace was the most rapid in 2020 with an increase of 36%. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, iron and steel wire imports soared to $X in 2021. In general, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +98.7% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Greece (X tons) and Turkey (X tons) were the main suppliers of iron and steel wire imports to Romania, together comprising 54% of total imports.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +51.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of iron and steel wire to Romania, comprising 29% of total imports. The second position in the ranking was held by Greece ($X), with a 10% share of total imports. It was followed by China, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value from France stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+46.5% per year) and China (+36.9% per year).

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2021, with an increase of 46% against the previous year. Overall, the import price, however, showed a slight descent. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+40.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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