Canada - Hot-Rolled Wire Rod - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Hot-Rolled Wire Rod in Coils in Canada - 2024
Contents:
- Price for Hot-Rolled Wire Rod in Coils in Canada (CIF) - 2024
- Price for Hot-Rolled Wire Rod in Coils in Canada (FOB) - 2024
- Imports of Hot-Rolled Wire Rod in Coils in Canada
- Exports of Hot-Rolled Wire Rod in Coils in Canada
Price for Hot-Rolled Wire Rod in Coils in Canada (CIF) - 2024
The average import price for hot-rolled wire rods in coils stood at $1,078 per ton in January 2024, falling by -3.8% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2023 when the average import price increased by 95% m-o-m. The import price peaked at $1,186 per ton in October 2023; however, from November 2023 to January 2024, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was China ($2,201 per ton), while the price for Vietnam ($770 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Vietnam (+1.8%), while the prices for the other major suppliers experienced a decline.
Price for Hot-Rolled Wire Rod in Coils in Canada (FOB) - 2024
The average export price for hot-rolled wire rods in coils stood at $1,108 per ton in January 2024, picking up by 19% against the previous month. In general, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $1,201 per ton in April 2023; however, from May 2023 to January 2024, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From January 2023 to January 2024, the rate of growth in terms of prices for the United States amounted to -0.1% per month.
Imports of Hot-Rolled Wire Rod in Coils in Canada
In 2022, the amount of hot-rolled wire rods in coils imported into Canada was estimated at 331K tons, increasing by 5% on the previous year. Overall, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +21.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.0% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 33% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, hot-rolled wire rod in coils imports soared to $337M in 2022. In general, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 79%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.
Import of Hot-Rolled Wire Rod in Coils in Canada (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Germany | 55.3 | 33.3 | 49.4 | 87.5 | 16.5% |
Vietnam | N/A | 12.3 | 70.6 | 62.6 | 125.6% |
United States | 30.8 | 39.5 | 64.4 | 56.5 | 22.4% |
Turkey | 0.8 | 2.2 | 31.6 | 36.1 | 256.0% |
Mexico | 12.8 | 38.7 | 16.6 | 25.6 | 26.0% |
China | 11.8 | 2.0 | 15.7 | 24.0 | 26.7% |
Egypt | 5.7 | N/A | 8.4 | 21.4 | 55.4% |
Malaysia | 22.5 | 9.5 | N/A | N/A | -57.8% |
Others | 16.6 | 20.3 | 25.3 | 23.6 | 12.4% |
Total | 156 | 158 | 282 | 337 | 29.3% |
Top Suppliers of Hot-Rolled Wire Rod in Coils to Canada in 2022:
- Vietnam (80.0K tons)
- Germany (74.3K tons)
- Turkey (43.4K tons)
- United States (39.4K tons)
- Mexico (26.8K tons)
- Egypt (26.2K tons)
- China (24.4K tons)
Exports of Hot-Rolled Wire Rod in Coils in Canada
After three years of growth, overseas shipments of hot-rolled wire rods in coils decreased by -10.2% to 250K tons in 2022. The total export volume increased at an average annual rate of +5.4% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 16% against the previous year. As a result, the exports reached the peak of 278K tons, and then fell in the following year.
In value terms, hot-rolled wire rod in coils exports expanded markedly to $323M in 2022. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 74% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
Export of Hot-Rolled Wire Rod in Coils in Canada (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 169 | 167 | 291 | 322 | 24.0% |
Others | 0.3 | 0.2 | 0.5 | 1.1 | 54.2% |
Total | 169 | 167 | 291 | 323 | 24.1% |
Top Export Markets for Hot-Rolled Wire Rod in Coils from Canada in 2022:
- United States (247.4K tons)
This report provides an in-depth analysis of the hot-rolled wire rod market in Canada. 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.
Product coverage:
- Prodcom 2410T231 - Hot-rolled wire rod
Country coverage:
- Canada
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Canada
- 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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