Stainless Steel Wire Price in the United States - 2023
Contents:
- Stainless Steel Wire Price in the United States (CIF) - 2023
- Stainless Steel Wire Price in the United States (FOB) - 2022
- Stainless Steel Wire Imports in the United States
- Stainless Steel Wire Exports in the United States
Stainless Steel Wire Price in the United States (CIF) - 2023
The average stainless steel wire import price stood at $5,308 per ton in October 2023, surging by 5.9% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 an increase of 8.3% month-to-month. As a result, import price reached the peak level of $6,689 per ton. From February 2023 to October 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($10,758 per ton), while the price for the United Arab Emirates ($2,617 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Italy (-0.3%), while the prices for the other major suppliers experienced a decline.
Stainless Steel Wire Price in the United States (FOB) - 2022
The average stainless steel wire export price stood at $18,138 per ton in 2022, picking up by 27% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, stainless steel wire export price increased by +79.7% against 2017 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 37% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.
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 Ireland ($45,018 per ton), while the average price for exports to Brazil ($6,702 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 Ireland (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
Stainless Steel Wire Imports in the United States
Stainless steel wire imports into the United States soared to 54K tons in 2022, rising by 16% against the year before. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +8.2% 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 +59.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 38% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, stainless steel wire imports skyrocketed to $310M in 2022. In general, imports recorded a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Stainless Steel Wire in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 56.4 | 39.5 | 74.0 | 112 | 25.7% |
| South Korea | 33.8 | 30.9 | 32.2 | 43.3 | 8.6% |
| China | 26.6 | 11.1 | 17.4 | 25.5 | -1.4% |
| Taiwan (Chinese) | 10.7 | 9.0 | 15.5 | 24.7 | 32.2% |
| Canada | 10.7 | 10.3 | 14.5 | 17.2 | 17.1% |
| Germany | 13.7 | 7.1 | 8.9 | 15.9 | 5.1% |
| Japan | 12.0 | 11.5 | 9.9 | 14.3 | 6.0% |
| Sweden | 5.6 | 6.5 | 6.3 | 10.2 | 22.1% |
| Italy | 4.7 | 3.3 | 5.3 | 9.8 | 27.8% |
| United Arab Emirates | 2.8 | 1.6 | 3.4 | 7.5 | 38.9% |
| Vietnam | 1.4 | 3.6 | 4.9 | 4.8 | 50.8% |
| Others | 20.7 | 10.8 | 11.6 | 24.4 | 5.6% |
| Total | 199 | 145 | 204 | 310 | 15.9% |
Top Suppliers of Stainless Steel Wire to the United States in 2022:
- India (25.3K tons)
- China (5.4K tons)
- South Korea (5.4K tons)
- Taiwan (Chinese) (3.9K tons)
- Canada (2.6K tons)
- United Arab Emirates (1.9K tons)
- Italy (1.4K tons)
- Germany (1.4K tons)
- Japan (1.3K tons)
- Vietnam (1.3K tons)
- Sweden (1.0K tons)
Stainless Steel Wire Exports in the United States
In 2022, stainless steel wire exports from the United States reduced to 9.6K tons, with a decrease of -8.4% on the previous year. Overall, exports showed a perceptible setback. The most prominent rate of growth was recorded in 2021 with an increase of 25%.
In value terms, stainless steel wire exports soared to $174M in 2022. The total export value increased at an average annual rate of +8.9% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 26%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.
| Export of Stainless Steel Wire in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 53.9 | 43.7 | 46.9 | 51.4 | -1.6% |
| Canada | 15.4 | 16.3 | 27.7 | 25.8 | 18.8% |
| Ireland | 10.4 | 9.8 | 14.1 | 14.7 | 12.2% |
| China | 6.5 | 8.6 | 9.6 | 10.1 | 15.8% |
| Brazil | 1.5 | 1.7 | 1.0 | 3.9 | 37.5% |
| Germany | 1.2 | 1.0 | 3.5 | 1.8 | 14.5% |
| Others | 46.1 | 38.1 | 47.4 | 66.5 | 13.0% |
| Total | 135 | 119 | 150 | 174 | 8.8% |
Top Export Markets for Stainless Steel Wire from the United States in 2022:
- Mexico (3.9K tons)
- Canada (3.1K tons)
- Brazil (0.6K tons)
- China (0.4K tons)
- Ireland (0.3K tons)
- Germany (0.2K tons)
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