Price for Hot-Rolled Wire Rod in Coils in the Dominican Republic - 2023
Contents:
- Price for Hot-Rolled Wire Rod in Coils in the Dominican Republic (CIF) - 2023
- Price for Hot-Rolled Wire Rod in Coils in the Dominican Republic (FOB) - 2022
- Imports of Hot-Rolled Wire Rod in Coils in the Dominican Republic
- Exports of Hot-Rolled Wire Rod in Coils in the Dominican Republic
Price for Hot-Rolled Wire Rod in Coils in the Dominican Republic (CIF) - 2023
In March 2023, the average import price for hot-rolled wire rods in coils amounted to $744 per ton, growing by 8.6% against the previous month. In general, the import price, however, saw a pronounced shrinkage. The pace of growth appeared the most rapid in June 2022 an increase of 27% m-o-m. The import price peaked at $1,195 per ton in March 2022; however, from April 2022 to March 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In March 2023, the country with the highest price was Brazil ($753 per ton), while the price for China totaled $683 per ton.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Mexico (+0.9%), while the prices for the other major suppliers experienced a decline.
Price for Hot-Rolled Wire Rod in Coils in the Dominican Republic (FOB) - 2022
The average export price for hot-rolled wire rods in coils stood at $1,022 per ton in 2022, with an increase of 21% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 40%. The export price peaked at $1,083 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Antigua and Barbuda ($1,424 per ton), while the average price for exports to Guyana ($862 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 Jamaica (+9.1%), while the prices for the other major destinations experienced a decline.
Imports of Hot-Rolled Wire Rod in Coils in the Dominican Republic
Hot-rolled wire rod in coils imports into the Dominican Republic reduced markedly to 88K tons in 2022, dropping by -22.2% against the previous year. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +6.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 75% against the previous year. As a result, imports reached the peak of 113K tons, and then declined remarkably in the following year.
In value terms, hot-rolled wire rod in coils imports contracted to $87M in 2022. Overall, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 155%. As a result, imports attained the peak of $87M, leveling off in the following year.
| Import of Hot-Rolled Wire Rod in Coils in the Dominican Republic (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 7.6 | 14.9 | 13.0 | 37.9 | 70.8% |
| Turkey | 17.5 | 7.9 | 15.7 | 18.8 | 2.4% |
| China | 4.0 | 1.4 | 10.6 | 11.2 | 40.9% |
| Mexico | 1.6 | 0.1 | 1.8 | 6.5 | 59.6% |
| Argentina | 9.9 | 8.2 | N/A | 5.6 | -17.3% |
| United States | 0.4 | 1.6 | 1.9 | 4.5 | 124.1% |
| Russia | N/A | N/A | 16.4 | 2.0 | -87.8% |
| Ukraine | N/A | N/A | 25.4 | N/A | 0% |
| Others | 0.2 | N/A | 1.9 | N/A | 208.2% |
| Total | 41.2 | 34.0 | 86.7 | 86.6 | 28.1% |
Top Suppliers of Hot-Rolled Wire Rod in Coils to the Dominican Republic in 2022:
- Brazil (36.7K tons)
- Turkey (18.0K tons)
- China (10.2K tons)
- Argentina (9.3K tons)
- Mexico (7.3K tons)
- United States (3.8K tons)
- Russia (2.3K tons)
Exports of Hot-Rolled Wire Rod in Coils in the Dominican Republic
For the fourth consecutive year, the Dominican Republic recorded growth in shipments abroad of hot-rolled wire rods in coils, which increased by 15% to 5.3K tons in 2022. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 1,113%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, hot-rolled wire rod in coils exports surged to $5.4M in 2022. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 1,603% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.
| Export of Hot-Rolled Wire Rod in Coils in the Dominican Republic (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | N/A | N/A | 1,540 | 3,185 | 106.8% |
| Antigua and Barbuda | N/A | N/A | 667 | 1,091 | 63.6% |
| Poland | N/A | N/A | N/A | 516 | 0% |
| Panama | N/A | N/A | N/A | 338 | 0% |
| Guyana | N/A | N/A | 1,570 | 225 | -85.7% |
| Dominica | 44.9 | 117 | 47.5 | N/A | 2.9% |
| Saint Lucia | 140 | 88.3 | N/A | N/A | -36.9% |
| Others | 2.0 | 24.6 | 85.0 | 80.1 | 242.1% |
| Total | 187 | 230 | 3,910 | 5,435 | 207.5% |
Top Export Markets for Hot-Rolled Wire Rod in Coils from the Dominican Republic in 2022:
- United States (3306.8 tons)
- Antigua and Barbuda (766.4 tons)
- Poland (576.9 tons)
- Panama (317.1 tons)
- Guyana (260.9 tons)
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