Report Update: May 1, 2024

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

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Steel Stranded Wire Price in India - 2023

Steel Stranded Wire Price in India (CIF) - 2023

In July 2023, the average steel stranded wire import price amounted to $1,701 per ton, stabilizing at the previous month. Over the period under review, the import price, however, showed a perceptible slump. The pace of growth was the most pronounced in January 2023 when the average import price increased by 8% m-o-m. Over the period under review, average import prices reached the peak figure at $2,391 per ton in July 2022; however, from August 2022 to July 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($1,957 per ton), while the price for Thailand ($1,135 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Malaysia (-0.2%), while the prices for the other major suppliers experienced a decline.

Steel Stranded Wire Price in India (FOB) - 2023

In July 2023, the average steel stranded wire export price amounted to $1,910 per ton, shrinking by -2% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 30% against the previous month. As a result, the export price reached the peak level of $2,470 per ton. From March 2023 to July 2023, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In July 2023, the country with the highest price was the UK ($2,518 per ton), while the average price for exports to Bangladesh ($982 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports in India

For the fourth consecutive year, India recorded growth in purchases abroad of iron or steel stranded wire, ropes and cables, which increased by 15% to 112K tons in 2022. Over the period under review, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +22.4% 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 +83.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 45% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, steel stranded wire imports skyrocketed to $256M in 2022. In general, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 61%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Import of Steel Stranded Wire in India (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	76.3	80.0	125	159	27.7%
Malaysia	5.1	6.7	10.9	19.6	56.6%
Thailand	12.3	8.7	21.8	18.7	15.0%
Vietnam	1.9	4.4	9.1	11.8	83.8%
Indonesia	7.2	5.8	11.2	8.1	4.0%
Slovakia	0.4	0.7	3.0	6.9	158.4%
Austria	2.9	3.3	2.4	0.6	-40.9%
Others	22.8	16.4	19.2	31.3	11.1%
Total	129	126	203	256	25.7%

Top Suppliers of Steel Stranded Wire to India in 2022:

China (75.2K tons)
Malaysia (9.4K tons)
Thailand (8.9K tons)
Vietnam (5.2K tons)
Indonesia (3.7K tons)
Slovakia (3.3K tons)
Austria (0.2K tons)

Steel Stranded Wire Exports in India

In 2022, the amount of iron or steel stranded wire, ropes and cables exported from India skyrocketed to 101K tons, picking up by 20% compared with 2021. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +10.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.7% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 28% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, steel stranded wire exports surged to $177M in 2022. In general, exports showed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. 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 India (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Arab Emirates	11.4	12.7	8.9	27.4	34.0%
Netherlands	10.7	9.0	15.4	22.7	28.5%
United States	6.4	4.1	8.0	17.5	39.8%
Singapore	5.3	3.5	9.9	12.5	33.1%
Nepal	6.9	6.3	11.4	11.8	19.6%
United Kingdom	8.6	8.2	8.0	9.8	4.5%
Germany	6.4	4.9	7.8	6.8	2.0%
Australia	2.6	2.7	3.6	5.1	25.2%
Belgium	2.2	0.9	0.9	4.2	24.1%
Denmark	1.6	1.5	4.1	4.1	36.8%
Greece	2.0	3.1	2.7	3.5	20.5%
Mozambique	0.9	1.3	2.9	3.4	55.7%
Qatar	2.8	2.8	3.6	3.0	2.3%
Others	37.2	29.8	40.4	44.7	6.3%
Total	105	90.8	128	177	19.0%

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

United Arab Emirates (17.4K tons)
Netherlands (12.6K tons)
Nepal (9.3K tons)
United States (8.6K tons)
Singapore (6.6K tons)
United Kingdom (4.5K tons)
Germany (3.4K tons)
Qatar (2.8K tons)
Belgium (2.4K tons)
Mozambique (2.4K tons)
Denmark (2.3K tons)
Greece (2.2K tons)
Australia (2.0K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the steel stranded wire market in India. 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:

India

Data coverage:

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