Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Canada - 2024

Contents:

1. Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Canada (FOB) - 2024
2. Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Canada (CIF) - 2022
3. Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Canada
4. Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Canada

Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Canada (FOB) - 2024

The average export price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses stood at $1,176 per ton in June 2023, increasing by 2.3% against the previous month. Over the period from January 2023 to June 2023, it increased at an average monthly rate of +1.3%. The pace of growth was the most pronounced in April 2023 when the average export price increased by 3.6% m-o-m. The export price peaked in June 2023.

As there is only one major export destination, the average price level is determined by prices for the United States.

From January 2023 to June 2023, the rate of growth in terms of prices for India amounted to +1.6% per month.

Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Canada (CIF) - 2022

In 2022, the average import price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses amounted to $970 per ton, rising by 14% against the previous year. In general, the import price posted mild growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 444% against the previous year. As a result, import price reached the peak level of $3,929 per ton. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($1,415 per ton), while the price for Vietnam ($783 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Canada

For the fourth consecutive year, Canada recorded growth in shipments abroad of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses, which increased by 12% to 312K tons in 2022. The total export volume increased at an average annual rate of +13.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 16%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, exports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses expanded rapidly to $315M in 2022. Over the period under review, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 74%. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils from Canada in 2022:

1. United States (308.4K tons)

Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Canada

In 2022, imports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses into Canada expanded slightly to 324K tons, picking up by 4.4% compared with the previous year's figure. 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 +77.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 33% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses surged to $314M in 2022. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 80% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils to Canada in 2022:

1. Vietnam (79.7K tons)
2. Germany (74.0K tons)
3. Turkey (43.2K tons)
4. United States (37.8K tons)
5. Mexico (26.7K tons)
6. Egypt (26.1K tons)
7. China (22.8K tons)

Source: IndexBox Market Intelligence Platform