U.S.: Expanded Metal Market 2024

Expanded Metal Market Size in the U.S.

After six years of growth, the U.S. expanded metal market decreased by -16.8% to $X in 2022. Over the period under review, consumption, however, recorded a remarkable increase. Expanded metal consumption peaked at $X in 2021, and then declined notably in the following year.

Expanded Metal Production in the U.S.

In value terms, expanded metal production declined to $X in 2022. In general, production, however, saw resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 33% against the previous year. Expanded metal production peaked at $X in 2021, and then declined in the following year.

Expanded Metal Exports

Exports from the U.S.

In 2022, overseas shipments of iron or steel expanded metal increased by 113% to X tons, rising for the second year in a row after three years of decline. In general, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, expanded metal exports surged to $X in 2022. Over the period under review, exports showed buoyant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 55%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Mexico (X tons), South Africa (X tons) and Canada (X tons) were the main destinations of expanded metal exports from the United States, together accounting for 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +102.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for expanded metal exported from the United States were Mexico ($X), South Africa ($X) and Canada ($X), together comprising 96% of total exports.

South Africa, with a CAGR of +113.6%, recorded the highest growth rate of the value of exports, in terms of 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

The average expanded metal export price stood at $X per ton in 2022, dropping by -33.7% against the previous year. In general, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 77%. The export price peaked at $X per ton in 2021, and then shrank remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Expanded Metal Imports

Imports into the U.S.

After two years of growth, purchases abroad of iron or steel expanded metal decreased by -20.8% to X tons in 2022. In general, total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 40%. Imports peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, expanded metal imports shrank to $X in 2022. Over the period under review, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 61%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Mexico (X tons) constituted the largest supplier of expanded metal to the United States, with a 52% share of total imports. Moreover, expanded metal imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Canada (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Mexico totaled +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.7% per year) and Canada (-1.8% per year).

In value terms, Mexico ($X) constituted the largest supplier of iron or steel expanded metal to the United States, comprising 46% of total imports. The second position in the ranking was held by China ($X), with a 23% share of total imports. It was followed by Canada, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico amounted to +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.3% per year) and Canada (+5.6% per year).

Import Prices by Country

In 2022, the average expanded metal import price amounted to $X per ton, increasing by 8.8% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, expanded metal import price increased by +100.7% against 2015 indices. The growth pace was the most rapid in 2021 when the average import price increased by 25%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Canada ($X per ton) and Italy ($X per ton), while the price for Mexico ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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