Sri Lanka: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Sri Lanka

The Sri Lankan market for ribbed or other deformed wire rod of non-alloy steel dropped slightly to $X in 2021, with a decrease of -2.7% against the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Sri Lanka

In value terms, deformed non-alloy steel wire rod production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 44%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports from Sri Lanka

In 2021, shipments abroad of ribbed or other deformed wire rod of non-alloy steel decreased by -94.5% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 468%. The exports peaked at X tons in 2020, and then dropped remarkably in the following year.

In value terms, deformed non-alloy steel wire rod exports shrank sharply to $X in 2021. Over the period under review, exports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 317%. The exports peaked at $X in 2020, and then fell rapidly in the following year.

Exports by Country

Maldives (X tons) was the main destination for deformed non-alloy steel wire rod exports from Sri Lanka, with a approx. 99.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives stood at +18.7%.

In value terms, Maldives ($X) also remains the key foreign market for ribbed or other deformed wire rod of non-alloy steel exports from Sri Lanka.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives amounted to +13.6%.

Export Prices by Country

In 2021, the average export price for ribbed or other deformed wire rod of non-alloy steel amounted to $X per ton, reducing by -7% against the previous year. Overall, the export price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 39% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Maldives amounted to -4.3% per year.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports into Sri Lanka

For the third consecutive year, Sri Lanka recorded decline in purchases abroad of ribbed or other deformed wire rod of non-alloy steel, which decreased by -47.5% to X tons in 2021. In general, imports faced a precipitous decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 248% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod imports declined sharply to $X in 2021. Over the period under review, imports faced a precipitous setback. The pace of growth was the most pronounced in 2018 with an increase of 407%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest deformed non-alloy steel wire rod supplier to Sri Lanka, accounting for a 74% share of total imports. Moreover, deformed non-alloy steel wire rod imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sevenfold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -27.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+10.0% per year) and the United Arab Emirates (+10.1% per year).

In value terms, China ($X) constituted the largest supplier of ribbed or other deformed wire rod of non-alloy steel to Sri Lanka, comprising 67% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total imports. It was followed by India, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+7.0% per year) and India (+8.5% per year).

Import Prices by Country

In 2021, the average import price for ribbed or other deformed wire rod of non-alloy steel amounted to $X per ton, falling by -19.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 77% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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