Russian Federation: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in the Russian Federation

In 2021, the Russian market for hot-rolled non-alloy steel wire rods decreased by -6.9% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in the Russian Federation

In value terms, hot-rolled non-alloy steel wire rod production stood at $X in 2021 estimated in export price. In general, production continues to indicate a modest expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 45%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from the Russian Federation

In 2021, approx. X tons of hot-rolled non-alloy steel wire rods were exported from Russia; growing by 65% on 2020 figures. Overall, exports enjoyed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled non-alloy steel wire rod exports soared to $X in 2021. In general, exports continue to indicate a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Israel (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Russia, accounting for a 25% share of total exports. Moreover, hot-rolled non-alloy steel wire rod exports to Israel exceeded the volume sent to the second major destination, Turkey (X tons), fourfold. The third position in this ranking was taken by Kazakhstan (X tons), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Israel totaled +59.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+69.1% per year) and Kazakhstan (+5.9% per year).

In value terms, Israel ($X) remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Russia, comprising 25% of total exports. The second position in the ranking was taken by Turkey ($X), with a 6.7% share of total exports. It was followed by Kazakhstan, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Israel amounted to +62.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+65.9% per year) and Kazakhstan (+6.9% per year).

Export Prices by Country

The average export price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, growing by 55% against the previous year. In general, the export price showed a relatively flat trend pattern. 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 2021, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Italy ($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 the Netherlands (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into the Russian Federation

In 2021, after two years of growth, there was significant decline in overseas purchases of hot-rolled non-alloy steel wire rods, when their volume decreased by -62.7% to X tons. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 1,641% against the previous year. As a result, imports attained the peak of X tons, and then shrank dramatically in the following year.

In value terms, hot-rolled non-alloy steel wire rod imports declined notably to $X in 2021. Over the period under review, imports saw a slight reduction. The most prominent rate of growth was recorded in 2020 with an increase of 1,181%. As a result, imports attained the peak of $X, and then contracted notably in the following year.

Imports by Country

In 2021, Ukraine (X tons) constituted the largest hot-rolled non-alloy steel wire rod supplier to Russia, accounting for a 71% share of total imports. Moreover, hot-rolled non-alloy steel wire rod imports from Ukraine exceeded the figures recorded by the second-largest supplier, Moldova (X tons), eightfold. The third position in this ranking was taken by Belarus (X tons), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ukraine stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Moldova (+8.7% per year) and Belarus (+144.3% per year).

In value terms, Ukraine ($X) constituted the largest supplier of hot-rolled non-alloy steel wire rods to Russia, comprising 61% of total imports. The second position in the ranking was held by Moldova ($X), with a 12% share of total imports. It was followed by Belarus, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ukraine amounted to -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Moldova (+10.8% per year) and Belarus (+141.2% per year).

Import Prices by Country

In 2021, the average import price for hot-rolled non-alloy steel wire rods amounted to $X per ton, with an increase of 67% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform