Which Country Imports the Most Wire Of Iron Or Non-Alloy Steel in the World?

Basic Iron And Steel May 28, 2018
Author: Anna Sergeeva
Market Analyst

Which Country Imports the Most Wire Of Iron Or Non-Alloy Steel in the World?

IndexBox has just published a new report "World: Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) - Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

Global iron and steel wire imports stood at 11M tonnes in 2016, approximately equating the previous year figure. Overall, iron and steel wire imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2010, when import increased by 11% y-o-y. Over the period under review, global iron and steel wire imports attained its maximum volume in 2016, and are likely to continue its growth in the near future.

In value terms, iron and steel wire imports stood at $5.8B in 2016. In general, iron and steel wire imports continue to indicate a mild descent. Global iron and steel wire import peaked of $7.7B in 2008- however, from 2009 to 2016, it stood at a somewhat lower level.

Top Iron And Steel Wire Importing Countries in the World

1. USA (617.2 million USD)

2. Germany (409.6 million USD)

3. France (246.1 million USD)

4. Poland (209.1 million USD)

5. South Korea (131.6 million USD)

6. China (120.4 million USD)

7. Slovakia (60.8 million USD)

8. Russia (55.0 million USD)

9. Malaysia (49.0 million USD)

10. Belarus (23.9 million USD)

11. Luxembourg (16.3 million USD)

12. Ukraine (5.7 million USD)

Iron And Steel Wire Imports By Country

In 2016, China (1.8M tonnes), distantly followed by the U.S. (635K tonnes), Slovakia (521K tonnes), and Germany (510K tonnes) were the main importers of iron and steel wire, together creating 32% of total imports. The following importers - South Korea (376K tonnes), Poland (307K tonnes), France (274K tonnes), Russia (274K tonnes), Belarus (265K tonnes), Ukraine (210K tonnes), Malaysia (210K tonnes), and Luxembourg (208K tonnes) together made up 20% of total imports.

China experienced a relatively flat trend pattern. At the same time, Slovakia (+14.7%), South Korea (+3.2%), Luxembourg (+2.3%), Poland (+1.8%), and Malaysia (+1.2%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest growing importer/exporter in the world, with a CAGR of +14.7% from 2007-2016. The U.S., Belarus, and Germany experienced a relatively flat trend pattern. By contrast, Russia (-1.8%), Ukraine (-2.0%), and France (-4.6%) illustrated a downward trend over the same period. While the share of Slovakia (-3.5%) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest iron and steel wire markets worldwide were the U.S. ($617M), Germany ($410M) and France ($246M), together accounting for 22% of global imports.Poland, South Korea, China, Slovakia, Russia, Malaysia, Belarus, Luxembourg and Ukraine lagged somewhat behind, together comprising a further 12%.

South Korea (+4.2% per year) experienced the highest growth rate of iron and steel wire imports, among the main importing countries, over the last 9 years, while the other global leaders experienced a decline in the imports figures.

Iron And Steel Wire Import Prices By Country

In 2016, the average import price for iron and steel wire amounted to $551 per tonne, waning by -7.9% against the previous year. Overall, iron and steel wire import price continues to indicate a slight deduction. The most prominent rate of growth was recorded in 2008, when import increased by 17% year-to-year. In that year, average iron and steel wire import price attained its maximum level of $766 per tonne. From 2009 to 2016, growth of average iron and steel wire import price failed to regain its strength.

Import prices varied noticeably by country of destination. the country with the highest import prices was the U.S. ($972 per tonne), while Ukraine ($27 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of iron and steel wire import prices was attained by South Korea (+1.0% per year), while the other global leaders experienced a decline in the import price figures.

Do you want to know more about global iron and steel wire market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • iron and steel wire market share
  • iron and steel wire prices
  • iron and steel wire industry
  • iron and steel wire sales
  • iron and steel wire import
  • iron and steel wire export
  • iron and steel wire market forecast
  • iron and steel wire price forecast
  • key iron and steel wire producers

All data provided in this article covers the following product: HS Code 7217 - Wire of iron or non-alloy steel.

Source: World: Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) - Market Report. Analysis and Forecast to 2025