Australia: Market for Base Metal Flexible Tubing, Iron Or Steel 2024

Market Size for Base Metal Flexible Tubing, Iron Or Steel in Australia

The Australian base metal flexible tubing market reduced notably to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a mild expansion. Over the period under review, the market reached the peak level at $X in 2021, and then reduced notably in the following year.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports from Australia

In 2022, overseas shipments of base metal flexible tubing, iron or steel increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, base metal flexible tubing exports surged to $X in 2022. Overall, exports posted strong growth. The pace of growth appeared the most rapid in 2015 when exports increased by X%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

New Zealand (X tons) was the main destination for base metal flexible tubing exports from Australia, with a X% share of total exports. Moreover, base metal flexible tubing exports to New Zealand exceeded the volume sent to the second major destination, Nauru (X tons), eightfold. The third position in this ranking was taken by Papua New Guinea (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nauru (X% per year) and Papua New Guinea (X% per year).

In value terms, New Zealand ($X) remains the key foreign market for base metal flexible tubing, iron or steel exports from Australia, comprising X% of total exports. The second position in the ranking was taken by Papua New Guinea ($X), with a X% share of total exports. It was followed by Nauru, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (X% per year) and Nauru (X% per year).

Export Prices by Country

In 2022, the average base metal flexible tubing export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price recorded a deep setback. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Papua New Guinea ($X per ton), while the average price for exports to Nauru ($X 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 Thailand (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports into Australia

After two years of decline, overseas purchases of base metal flexible tubing, iron or steel increased by X% to X tons in 2022. In general, imports enjoyed a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, base metal flexible tubing imports skyrocketed to $X in 2022. Overall, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of base metal flexible tubing to Australia, with a X% share of total imports. Moreover, base metal flexible tubing imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Canada (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Canada (X% per year).

In value terms, China ($X) constituted the largest supplier of base metal flexible tubing, iron or steel to Australia, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with an X% share of total imports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Canada (X% per year).

Import Prices by Country

The average base metal flexible tubing import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and China ($X per ton), while the price for Canada ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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