Report Update: Apr 1, 2024

China - Iron Or Steel Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends And Insights

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Steel Stranded Wire Price in China - 2023

Steel Stranded Wire Price in China (FOB) - 2023

In August 2023, the average steel stranded wire export price amounted to $1,325 per ton, shrinking by -1.8% against the previous month. Overall, the export price recorded a noticeable descent. The pace of growth was the most pronounced in March 2023 when the average export price increased by 5.6% against the previous month. The export price peaked at $1,690 per ton in September 2022; however, from October 2022 to August 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($2,018 per ton), while the average price for exports to Israel ($734 per ton) was amongst the lowest.

From September 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-0.3%), while the prices for the other major destinations experienced a decline.

Steel Stranded Wire Price in China (CIF) - 2023

In September 2023, the average steel stranded wire import price amounted to $4,611 per ton, increasing by 5.2% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 when the average import price increased by 15% against the previous month. The import price peaked at $5,242 per ton in February 2023; however, from March 2023 to September 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Italy ($12,055 per ton), while the price for Slovakia ($2,751 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Italy (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Steel Stranded Wire Exports in China

In 2022, steel stranded wire exports from China skyrocketed to 1.6M tons, picking up by 20% compared with 2021. The total export volume increased at an average annual rate of +9.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 21%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, steel stranded wire exports surged to $2.7B in 2022. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +14.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 43%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Export of Steel Stranded Wire in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	138	113	204	229	18.4%
Thailand	172	134	189	224	9.2%
United States	174	120	165	207	6.0%
Vietnam	115	133	175	205	21.3%
India	117	109	177	188	17.1%
Japan	99.0	81.6	118	128	8.9%
Brazil	46.3	45.5	71.5	89.2	24.4%
Israel	27.6	44.4	48.9	79.9	42.5%
Canada	57.8	47.7	64.2	75.9	9.5%
Australia	37.4	36.3	54.6	73.5	25.3%
Indonesia	47.5	39.1	49.2	73.1	15.5%
United Arab Emirates	39.4	30.4	38.1	54.9	11.7%
Philippines	32.7	24.8	34.5	47.5	13.3%
Others	697	590	820	1,055	14.8%
Total	1,800	1,547	2,210	2,729	14.9%

Top Export Markets for Steel Stranded Wire from China in 2022:

South Korea (158.2K tons)
Vietnam (150.1K tons)
Thailand (139.7K tons)
India (95.6K tons)
United States (86.8K tons)
Japan (68.9K tons)
Australia (67.9K tons)
Canada (48.1K tons)
United Arab Emirates (46.3K tons)
Brazil (40.3K tons)
Indonesia (40.0K tons)
Israel (34.8K tons)
Philippines (33.7K tons)

Steel Stranded Wire Imports in China

In 2022, approx. 56K tons of iron or steel stranded wire, ropes and cables were imported into China; which is down by -9.5% against 2021 figures. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 13%. As a result, imports attained the peak of 62K tons, and then reduced in the following year.

In value terms, steel stranded wire imports shrank to $239M in 2022. The total import value increased at an average annual rate of +3.3% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 20%. As a result, imports attained the peak of $268M, and then dropped in the following year.

Import of Steel Stranded Wire in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	44.5	65.9	66.1	50.9	4.6%
South Korea	43.0	41.0	51.3	47.8	3.6%
Japan	24.3	22.3	29.0	26.3	2.7%
United Kingdom	11.2	13.7	16.0	18.2	17.6%
Vietnam	12.0	13.7	15.5	12.5	1.4%
Thailand	16.7	11.7	11.4	10.8	-13.5%
Italy	7.9	3.7	9.8	10.7	10.6%
Poland	9.7	13.1	12.2	10.4	2.3%
Malaysia	0.7	0.6	3.0	9.9	141.8%
Switzerland	7.5	6.8	8.0	8.8	5.5%
Others	39.2	30.3	45.2	32.8	-5.8%
Total	217	223	268	239	3.3%

Top Suppliers of Steel Stranded Wire to China in 2022:

South Korea (15.5K tons)
Germany (9.5K tons)
Japan (5.0K tons)
Vietnam (4.6K tons)
Malaysia (4.2K tons)
United Kingdom (3.6K tons)
Thailand (2.5K tons)
Poland (1.8K tons)
Italy (1.6K tons)
Switzerland (1.3K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the steel stranded wire market in China. 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 2030.

Product coverage:

Prodcom 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)

Country coverage:

China

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in China
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023