U.S.: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in the U.S.

In 2021, the U.S. market for hot-rolled non-alloy steel wire rods was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption saw a relatively flat trend pattern. Hot-rolled non-alloy steel wire rod consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from the U.S.

In 2021, shipments abroad of hot-rolled non-alloy steel wire rods increased by 3.2% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 26%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled non-alloy steel wire rod exports soared to $X in 2021. Over the period under review, exports, however, showed a abrupt descent. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from the United States, with a 63% share of total exports. Moreover, hot-rolled non-alloy steel wire rod exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), fourfold. The third position in this ranking was taken by the Dominican Republic (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Canada totaled -9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-3.7% per year) and the Dominican Republic (+5.3% per year).

In value terms, Canada ($X) remains the key foreign market for hot-rolled non-alloy steel wire rods exports from the United States, comprising 65% of total exports. The second position in the ranking was held by Mexico ($X), with a 14% share of total exports. It was followed by the Dominican Republic, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value to Canada stood at -8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-2.7% per year) and the Dominican Republic (+3.7% 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 28% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Canada ($X per ton) and Mexico ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) and British Virgin Islands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1.8%), 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 U.S.

In 2021, purchases abroad of hot-rolled non-alloy steel wire rods was finally on the rise to reach X tons after five years of decline. Over the period under review, imports, however, showed a slight slump. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a mild downturn. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Canada (X tons) constituted the largest hot-rolled non-alloy steel wire rod supplier to the United States, with a 28% share of total imports. Moreover, hot-rolled non-alloy steel wire rod imports from Canada exceeded the figures recorded by the second-largest supplier, Egypt (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+25.3% per year) and Japan (-2.6% per year).

In value terms, Canada ($X) constituted the largest supplier of hot-rolled non-alloy steel wire rods to the United States, comprising 33% of total imports. The second position in the ranking was held by Egypt ($X), with an 11% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+29.1% per year) and Japan (-5.4% per year).

Import Prices by Country

The average import price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, jumping by 31% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Canada ($X per ton) and Germany ($X per ton), while the price for India ($X per ton) and Algeria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform