Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama - 2024
Contents:
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama (CIF) - 2022
- Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama (FOB) - 2022
- Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama
- Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama (CIF) - 2022
In 2022, the average import price for iron or non-alloy steel wire, not plated or coateds amounted to $1,443 per ton, rising by 28% against the previous year. Overall, the import price, however, showed a drastic downturn. The growth pace was the most rapid in 2015 when the average import price increased by 107%. Over the period under review, average import prices hit record highs at $4,012 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 El Salvador ($2,010 per ton), while the price for Belgium ($396 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (-5.7%), while the prices for the other major suppliers experienced a decline.
Price for Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama (FOB) - 2022
The average export price for iron or non-alloy steel wire, not plated or coateds stood at $882 per ton in 2022, leveling off at the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 514%. As a result, the export price attained the peak level of $5,320 per ton. From 2014 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($2,140 per ton), while the average price for exports to El Salvador ($53 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 Guatemala (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama
Imports of iron or non-alloy steel wire, not plated or coateds into Panama shrank sharply to 1.6K tons in 2022, reducing by -39.1% compared with the year before. In general, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 98% against the previous year. As a result, imports reached the peak of 2.6K tons, and then contracted rapidly in the following year.
In value terms, imports of iron or non-alloy steel wire, not plated or coateds fell markedly to $2.3M in 2022. Over the period under review, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 148%. As a result, imports attained the peak of $2.9M, and then dropped remarkably in the following year.
| Import of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Portugal | 341 | 178 | 552 | 662 | 24.7% |
| Turkey | 58.3 | 66.7 | 261 | 440 | 96.2% |
| Spain | 609 | 192 | 1,252 | 263 | -24.4% |
| Colombia | 84.6 | 56.0 | 40.1 | 201 | 33.4% |
| Peru | 43.0 | 57.8 | 148 | 152 | 52.3% |
| China | 9.4 | 9.3 | 72.2 | 135 | 143.1% |
| El Salvador | 403 | 308 | 173 | 97.2 | -37.8% |
| Guatemala | 1.9 | 21.9 | 55.2 | 94.2 | 267.4% |
| Belgium | 64.9 | 58.9 | 71.9 | 69.8 | 2.5% |
| Luxembourg | 51.9 | 44.5 | 51.4 | 47.1 | -3.2% |
| Brazil | 102 | 39.3 | 25.2 | 26.8 | -36.0% |
| Costa Rica | 46.2 | 79.1 | 147 | 19.3 | -25.2% |
| Others | 92.5 | 68.4 | 84.2 | 78.4 | -5.4% |
| Total | 1,909 | 1,180 | 2,933 | 2,286 | 6.2% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Not Plated or Coated to Panama in 2022:
- Portugal (386.0 tons)
- Turkey (312.6 tons)
- Belgium (176.3 tons)
- Spain (133.1 tons)
- Peru (122.0 tons)
- Colombia (112.3 tons)
- China (95.6 tons)
- Guatemala (63.1 tons)
- El Salvador (48.3 tons)
- Luxembourg (38.5 tons)
- Brazil (24.9 tons)
- Costa Rica (11.6 tons)
Exports of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama
In 2022, shipments abroad of iron or non-alloy steel wire, not plated or coateds decreased by 0% to 10 tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 144% against the previous year. As a result, the exports attained the peak of 21 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of iron or non-alloy steel wire, not plated or coateds totaled $9.1K in 2022. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 146%. As a result, the exports reached the peak of $18K. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Iron or Non-Alloy Steel Wire, Not Plated or Coated in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Guatemala | 3.9 | 10.4 | N/A | 3.3 | -5.4% |
| Dominican Republic | 1.5 | 1.9 | N/A | 2.2 | 13.6% |
| Costa Rica | 0.2 | 2.3 | N/A | 1.1 | 76.5% |
| Trinidad and Tobago | 0.3 | 1.0 | N/A | 0.9 | 44.2% |
| Honduras | 0.6 | 1.2 | N/A | 0.7 | 5.3% |
| Cuba | 0.1 | 0.3 | N/A | 0.3 | 44.2% |
| Venezuela | 0.2 | 0.3 | N/A | 0.2 | 0.0% |
| El Salvador | 0.1 | 0.3 | N/A | 0.1 | 0.0% |
| Others | 0.4 | 0.5 | N/A | 0.4 | 0.0% |
| Total | 7.4 | 18.2 | N/A | 9.1 | 7.1% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Not Plated or Coated from Panama in 2022:
- Dominican Republic (2.5 tons)
- El Salvador (2.0 tons)
- Guatemala (1.5 tons)
- Honduras (1.3 tons)
- Costa Rica (1.2 tons)
- Trinidad and Tobago (1.0 tons)
- Cuba (0.4 tons)
- Venezuela (0.2 tons)
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This report provides an in-depth analysis of the market for iron and steel wire in Panama.
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