United Kingdom: Market for Iron and Steel Wire 2025

Market Size for Iron and Steel Wire in the UK

The UK iron and steel wire market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Iron and Steel Wire in the UK

In value terms, iron and steel wire production soared to $X in 2021 estimated in export price. Overall, production, however, saw a mild descent. The pace of growth appeared the most rapid in 2018 when the production volume increased by 69%. Iron and steel wire production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Iron and Steel Wire

Exports from the UK

In 2021, shipments abroad of iron and steel wire increased by 18% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a deep slump. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, iron and steel wire exports skyrocketed to $X in 2021. Overall, exports, however, recorded a abrupt downturn. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Denmark (X tons), the Netherlands (X tons) and Brazil (X tons) were the main destinations of iron and steel wire exports from the UK, together comprising 41% of total exports. Germany, Ireland, the United States, Poland, France, Canada, Libya, Spain, Italy and Turkey lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Libya (with a CAGR of +73.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel wire exported from the UK were Libya ($X), Denmark ($X) and the Netherlands ($X), with a combined 36% share of total exports.

Among the main countries of destination, Libya, with a CAGR of +79.8%, recorded the highest growth rate of the value of exports, 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 34% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron and steel wire export price increased by +94.1% against 2016 indices. 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 foreign markets. In 2021, amid the top suppliers, the country with the highest price was Libya ($X per ton), while the average price for exports to Turkey ($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 Spain (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into the UK

In 2021, overseas purchases of iron and steel wire were finally on the rise to reach X tons after three years of decline. Over the period under review, total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern 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

Turkey (X tons), Spain (X tons) and the Czech Republic (X tons) were the main suppliers of iron and steel wire imports to the UK, together accounting for 46% of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +31.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire suppliers to the UK were Spain ($X), the Czech Republic ($X) and Turkey ($X), with a combined 36% share of total imports. China, Germany, Italy, India, Luxembourg, Slovakia, the Netherlands, South Africa, Tunisia and Portugal lagged somewhat behind, together comprising a further 46%.

In terms of the main suppliers, Tunisia, with a CAGR of +32.8%, recorded the highest growth rate of the value of imports, 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, growing by 13% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Turkey ($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 Netherlands (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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