Venezuela: Market for Wire Rod Of Free-Cutting Steel 2025

Market Size for Wire Rod Of Free-Cutting Steel in Venezuela

In 2022, the Venezuelan free-cutting steel wire rod market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption recorded a abrupt contraction. Free-cutting steel wire rod consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Wire Rod Of Free-Cutting Steel in Venezuela

In value terms, free-cutting steel wire rod production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Wire Rod Of Free-Cutting Steel

Exports from Venezuela

After three years of decline, overseas shipments of wire rod of free-cutting steel increased by X% to X tons in 2022. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, free-cutting steel wire rod exports expanded to $X in 2022. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for free-cutting steel wire rod exports from Venezuela, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the Dominican Republic totaled X%.

In value terms, the Dominican Republic ($X) also remains the key foreign market for wire rod of free-cutting steel exports from Venezuela.

From 2012 to 2022, the average annual growth rate of value to the Dominican Republic totaled X%.

Export Prices by Country

The average free-cutting steel wire rod export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the Dominican Republic.

From 2012 to 2022, the rate of growth in terms of prices for the Dominican Republic amounted to X% per year.

Imports of Wire Rod Of Free-Cutting Steel

Imports into Venezuela

After seven years of growth, overseas purchases of wire rod of free-cutting steel decreased by X% to X tons in 2022. Overall, imports, however, recorded a resilient expansion. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, free-cutting steel wire rod imports shrank modestly to $X in 2022. In general, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of free-cutting steel wire rod to Venezuela, accounting for a X% share of total imports. Moreover, free-cutting steel wire rod imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%.

In value terms, China ($X) constituted the largest supplier of wire rod of free-cutting steel to Venezuela, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%.

Import Prices by Country

The average free-cutting steel wire rod import price stood at $X per ton in 2022, almost unchanged from the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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