U.S. - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingIron and Steel Price in the United States - 2023
Contents:
- Iron and Steel Price in the United States (CIF) - 2023
- Iron and Steel Price in the United States (FOB) - 2022
- Iron and Steel Imports in the United States
- Iron and Steel Exports in the United States
Iron and Steel Price in the United States (CIF) - 2023
In September 2023, the average iron and steel import price amounted to $443 per ton, with a decrease of -8.1% against the previous month. Over the period under review, the import price showed a noticeable setback. The pace of growth was the most pronounced in March 2023 an increase of 14% month-to-month. Over the period under review, average import prices hit record highs at $760 per ton in October 2022; however, from November 2022 to September 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was South Africa ($697 per ton), while the price for Ukraine ($401 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Canada (-1.1%), while the prices for the other major suppliers experienced a decline.
Iron and Steel Price in the United States (FOB) - 2022
The average iron and steel export price stood at $1,914 per ton in 2022, jumping by 94% against the previous year. In general, the export price showed prominent growth. The pace of growth appeared the most rapid in 2021 an increase of 383% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($10,180 per ton), while the average price for exports to Mexico ($844 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.
Iron and Steel Imports in the United States
Iron and steel imports into the United States contracted markedly to 4.6M tons in 2022, with a decrease of -24% against the previous year. Over the period under review, imports continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 34% against the previous year. As a result, imports attained the peak of 6M tons, and then dropped rapidly in the following year.
In value terms, iron and steel imports contracted to $3B in 2022. In general, imports, however, saw a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by 122%. As a result, imports reached the peak of $3.3B, and then shrank in the following year.
| Import of Iron and Steel in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 423 | 252 | 872 | 1,317 | 46.0% |
| Russia | 821 | 540 | 1,156 | 351 | -24.7% |
| Ukraine | 524 | 607 | 939 | 318 | -15.3% |
| India | N/A | N/A | 226 | 274 | 21.2% |
| Canada | 25.1 | 29.6 | 46.9 | 85.3 | 50.3% |
| South Africa | 48.5 | 34.5 | 44.9 | 71.4 | 13.8% |
| China | N/A | N/A | 0.2 | 65.6 | 32700.0% |
| Others | 24.7 | 21.1 | 6.2 | 564 | 183.7% |
| Total | 1,867 | 1,484 | 3,291 | 3,045 | 17.7% |
Top Suppliers of Iron and Steel to the United States in 2022:
- Brazil (1865.9K tons)
- Russia (638.0K tons)
- Ukraine (546.7K tons)
- India (345.4K tons)
- Canada (124.8K tons)
- South Africa (99.3K tons)
- China (70.5K tons)
Iron and Steel Exports in the United States
In 2022, the amount of iron and steel exported from the United States reached 38K tons, stabilizing at 2021. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 442% against the previous year. As a result, the exports attained the peak of 105K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, iron and steel exports surged to $72M in 2022. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Iron and Steel in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 4.4 | 4.4 | 18.3 | 25.3 | 79.2% |
| United Arab Emirates | N/A | N/A | N/A | 9.3 | 0% |
| Mexico | 2.5 | 4.4 | 1.5 | 3.4 | 10.8% |
| Taiwan (Chinese) | 0.6 | 0.2 | 3.6 | 2.2 | 54.2% |
| India | 1.7 | 0.4 | 1.0 | 1.2 | -11.0% |
| Chile | 2.9 | 1.5 | N/A | 0.9 | -32.3% |
| Others | 7.6 | 10.6 | 12.5 | 29.5 | 57.2% |
| Total | 19.7 | 21.5 | 36.8 | 72.0 | 54.0% |
Top Export Markets for Iron and Steel from the United States in 2022:
- Canada (26.1K tons)
- Mexico (4.1K tons)
- Taiwan (Chinese) (0.9K tons)
- United Arab Emirates (0.9K tons)
- India (0.4K tons)
- Chile (0.4K tons)
This report provides an in-depth analysis of the iron and steel 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.
Product coverage:
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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