Russian Federation: Market for Iron and Steel Wire 2025

Market Size for Iron and Steel Wire in the Russian Federation

After three years of decline, the Russian iron and steel wire market increased by 22% to $X in 2021. Over the period under review, consumption showed a perceptible decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Iron and Steel Wire in the Russian Federation

In value terms, iron and steel wire production surged to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. Iron and steel wire production peaked at $X in 2012; afterwards, it flattened through to 2021.

Exports of Iron and Steel Wire

Exports from the Russian Federation

In 2021, the amount of iron and steel wire exported from Russia was estimated at X tons, increasing by 11% against the year before. Over the period under review, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 30%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, iron and steel wire exports soared to $X in 2021. In general, exports recorded a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Kazakhstan (X tons), Poland (X tons) and Lithuania (X tons) were the main destinations of iron and steel wire exports from Russia, with a combined 49% share of total exports. Belarus, Germany, Kyrgyzstan, Luxembourg, Latvia, Uzbekistan, France, the Czech Republic and Turkmenistan lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the biggest increases were recorded for Luxembourg (with a CAGR of +90.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel wire exported from Russia were Kazakhstan ($X), Poland ($X) and Belarus ($X), together comprising 53% of total exports. These countries were followed by Lithuania, Germany, Kyrgyzstan, Uzbekistan, Latvia, Luxembourg, France, the Czech Republic and Turkmenistan, which together accounted for a further 32%.

Luxembourg, with a CAGR of +94.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average iron and steel wire export price amounted to $X per ton, with an increase of 62% against the previous year. Overall, the export price recorded 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 overseas markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Kyrgyzstan ($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 Poland (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into the Russian Federation

In 2021, after two years of decline, there was significant growth in purchases abroad of iron and steel wire, when their volume increased by 7% to X tons. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 32% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports soared to $X in 2021. In general, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Belarus (X tons), China (X tons) and the Czech Republic (X tons) were the main suppliers of iron and steel wire imports to Russia, together accounting for 81% of total imports. These countries were followed by India, Italy, Turkey, Vietnam, South Korea and Ukraine, which together accounted for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +72.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire suppliers to Russia were China ($X), Belarus ($X) and India ($X), with a combined 70% share of total imports. The Czech Republic, Italy, Vietnam, Turkey, South Korea and Ukraine lagged somewhat behind, together accounting for a further 17%.

Vietnam, with a CAGR of +75.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2021, with an increase of 29% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 India ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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