U.S. Fabricated Structural Metal Market. Analysis And Forecast to 2030
Fabricated Structural Metal Price in America Grows 3%, Averaging $3,161 per Ton
U.S. Fabricated Structural Metal Import Price in November 2022
In November 2022, the fabricated structural metal price stood at $3,161 per ton (CIF, US), with an increase of 2.7% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2022 when the average import price increased by 10% m-o-m. The import price peaked in November 2022.
Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($5,113 per ton), while the price for Thailand ($1,605 per ton) was amongst the lowest.
From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by India (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Fabricated Structural Metal Imports
In November 2022, imports of fabricated structural metal into the United States shrank modestly to 200K tons, which is down by -1.9% against October 2022 figures. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in March 2022 when imports increased by 27% m-o-m. As a result, imports reached the peak of 248K tons. From April 2022 to November 2022, the growth of imports remained at a somewhat lower figure.
In value terms, fabricated structural metal imports stood at $633M (IndexBox estimates) in November 2022. The total import value increased at an average monthly rate of +1.4% from January 2022 to November 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain months. The growth pace was the most rapid in March 2022 with an increase of 24% m-o-m. Imports peaked at 701K tons in May 2022; however, from June 2022 to November 2022, imports failed to regain momentum.
U.S. Fabricated Structural Metal Imports by Country
Mexico (49K tons), Canada (27K tons) and China (24K tons) were the main suppliers of fabricated structural metal imports to the United States, together accounting for 50% of total imports. These countries were followed by Turkey, Thailand, India, Vietnam, Portugal, Taiwan (Chinese), South Korea, the United Arab Emirates, Spain and Malaysia, which together accounted for a further 43%.
From January 2022 to November 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +25.1%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Mexico ($176M), Canada ($131M) and China ($59M) constituted the largest fabricated structural metal suppliers to the United States, together comprising 58% of total imports. India, Turkey, Thailand, South Korea, Vietnam, Taiwan (Chinese), Spain, Portugal, the United Arab Emirates and Malaysia lagged somewhat behind, together comprising a further 30%.
Among the main suppliers, Portugal, with a CAGR of +20.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Fabricated Structural Metal Market Overview
The fabricated structural metal market in the United States is expected to grow significantly in the next few years. The construction sector is expected to grow in the next few years, due to the rebound in housing starts and the increasing number of commercial and infrastructure projects. This will lead to an increase in demand for fabricated structural metals, as they are used extensively in construction applications. In addition, the growing automotive and aerospace industries are also driving the growth of this market.
However, there are some factors that could restraint the growth of this market. The rising cost of raw materials, labor costs, and environmental regulations are some of the major challenges faced by manufacturers in this market. Additionally, the volatile nature of the global economy can also impact the demand for fabricated structural metal products.
This report provides an in-depth analysis of the fabricated structural metal 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 2030.
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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