United Kingdom: 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 the UK

The UK market for ribbed or other deformed wire rod of non-alloy steel fell to $X in 2021, shrinking by -11.2% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Deformed non-alloy steel wire rod consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in the UK

In value terms, deformed non-alloy steel wire rod production shrank to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 19% against the previous year. Deformed non-alloy steel wire rod production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

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

Exports from the UK

In 2021, shipments abroad of ribbed or other deformed wire rod of non-alloy steel was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports saw a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 287% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod exports surged to $X in 2021. In general, exports posted resilient growth. The pace of growth appeared the most rapid in 2015 when exports increased by 159% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ireland (X tons) was the main destination for deformed non-alloy steel wire rod exports from the UK, accounting for a 66% share of total exports. Moreover, deformed non-alloy steel wire rod exports to Ireland exceeded the volume sent to the second major destination, India (X tons), sixfold. Spain (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ireland stood at +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+94.0% per year) and Spain (+9.6% per year).

In value terms, Ireland ($X) remains the key foreign market for ribbed or other deformed wire rod of non-alloy steel exports from the UK, comprising 58% of total exports. The second position in the ranking was held by India ($X), with a 19% share of total exports. It was followed by Hong Kong SAR, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ireland totaled +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+102.0% per year) and Hong Kong SAR (-5.8% per year).

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, rising by 34% against the previous year. In general, the export price, however, recorded a slight curtailment. The growth pace was the most rapid in 2014 an increase of 39% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

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 China ($X per ton), while the average price for exports to Spain ($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 India (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into the UK

In 2021, supplies from abroad of ribbed or other deformed wire rod of non-alloy steel decreased by -21.9% to X tons, falling for the third consecutive year after three years of growth. Overall, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 785%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, deformed non-alloy steel wire rod imports surged to $X in 2021. In general, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 670%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Portugal (X tons) constituted the largest supplier of deformed non-alloy steel wire rod to the UK, with a 68% share of total imports. Moreover, deformed non-alloy steel wire rod imports from Portugal exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold. France (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Portugal stood at +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+5.4% per year) and France (+184.6% per year).

In value terms, Portugal ($X) constituted the largest supplier of ribbed or other deformed wire rod of non-alloy steel to the UK, comprising 65% of total imports. The second position in the ranking was taken by Turkey ($X), with a 10% share of total imports. It was followed by Spain, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Portugal amounted to +24.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+73.2% per year) and Spain (+6.8% per year).

Import Prices by Country

The average import price for ribbed or other deformed wire rod of non-alloy steel stood at $X per ton in 2021, increasing by 69% against the previous year. In general, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+19.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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