U.S. Steel Wire Market. Analysis And Forecast to 2025
Update: COVID-19 Impact
China is the Key Steel Wire Supplier to the U.S.
China was the main supplier of steel wire into the U.S., with a X% share of total U.S. imports in 2014. However, the fastest growing suppliers were Mexico (+X% per year) and Japan (+X% per year) in total imports from 2007 to 2014.
In 2014, the main destinations of U.S. steel wire exports were Canada (X%) and Mexico (X%). The share exported to Mexico increased (+X percentage points), while the share sent to Canada illustrated negative dynamics (-X percentage points). The shares of the other countries remained relatively stable throughout the analyzed period.
The technology utilized by U.S. steel mills these days is highly sophisticated. Computers play a critical role in almost every step of the manufacturing process, from production scheduling to machinery control to metallurgical analysis.
The steel industry has significantly benefited from a country-wide demand in the automotive, construction and petrochemicals sectors. It has also been uplifted by investments made in high-tech equipment, and in training those responsible for overseeing it.
Facing international competition, the U.S. steel industry continues to modernize its production processes and consolidate businesses to boost productivity. However, despite successful efforts to reduce costs and an improving competitive position, steel manufacturing companies are still up against fierce competition.
The situation on the U.S. steel market is currently complicated by overseas manufacturers, whose low costs of production have enabled them to sell their products at cheaper prices, triggering an industry-wide price drop, which, in turn, negatively affects the margins of U.S. steel makers.
China, for example, has built up a massive excess steel capacity, and poses a serious threat to the U.S. steel industry. To compound this, China's move to devaluate its currency has provoked even greater fears. U.S. steel makers, meanwhile, actively lobby Congress to enforce new trade laws to secure a solid future for the American steel industry.
Source: IndexBox AI Platform
This report provides an in-depth analysis of the steel wire market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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