Uzbekistan: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Uzbekistan

The Uzbek market for hot-rolled non-alloy steel wire rods soared to $X in 2021, picking up by 57% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Uzbekistan

In 2021, approx. X tons of hot-rolled non-alloy steel wire rods were exported from Uzbekistan; reducing by -92.1% compared with the year before. Overall, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2020 when exports increased by 202,328% against the previous year. As a result, the exports attained the peak of X tons, and then reduced rapidly in the following year.

In value terms, hot-rolled non-alloy steel wire rod exports reduced markedly to $X in 2021. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 101,101%. As a result, the exports reached the peak of $X, and then shrank dramatically in the following year.

Exports by Country

Tajikistan (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Uzbekistan, with a 76% share of total exports. Moreover, hot-rolled non-alloy steel wire rod exports to Tajikistan exceeded the volume sent to the second major destination, Singapore (X tons), fivefold.

From 2017 to 2021, the average annual rate of growth in terms of volume to Tajikistan amounted to -93.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+40.0% per year) and Italy (0.0% per year).

In value terms, Tajikistan ($X) remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Uzbekistan, comprising 73% of total exports. The second position in the ranking was held by Singapore ($X), with an 11% share of total exports.

From 2017 to 2021, the average annual rate of growth in terms of value to Tajikistan stood at -89.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+35.3% per year) and Italy (0.0% per year).

Export Prices by Country

In 2021, the average export price for hot-rolled non-alloy steel wire rods amounted to $X per ton, increasing by 67% against the previous year. Overall, export price indicated moderate growth from 2017 to 2021: its price increased at an average annual rate of +3.0% over the last four-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled non-alloy steel wire rod export price decreased by -16.5% against 2019 indices. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

From 2017 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tajikistan (+61.8%).

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Uzbekistan

In 2021, hot-rolled non-alloy steel wire rod imports into Uzbekistan soared to X tons, surging by 25% compared with the year before. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2019 when imports increased by 29% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, hot-rolled non-alloy steel wire rod imports skyrocketed to $X in 2021. Over the period under review, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons), Tajikistan (X tons) and Iran (X tons) were the main suppliers of hot-rolled non-alloy steel wire rod imports to Uzbekistan, together comprising 98% of total imports.

From 2014 to 2021, the biggest increases were recorded for Iran (with a CAGR of +771.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Russia ($X) constituted the largest supplier of hot-rolled non-alloy steel wire rods to Uzbekistan, comprising 62% of total imports. The second position in the ranking was taken by Iran ($X), with a 19% share of total imports.

From 2014 to 2021, the average annual rate of growth in terms of value from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+843.0% per year) and Tajikistan (+237.8% per year).

Import Prices by Country

In 2021, the average import price for hot-rolled non-alloy steel wire rods amounted to $X per ton, increasing by 24% against the previous year. Over the period under review, the import price, however, faced a dramatic slump. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2014 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform