Australia: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in Australia

In 2022, the Australian free-cutting steel wire rod market increased by X% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, recorded a pronounced decrease. Free-cutting steel wire rod consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Wire Rod Of Free-Cutting Steel in Australia

In value terms, free-cutting steel wire rod production fell rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X,600%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

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Exports of Wire Rod Of Free-Cutting Steel

Exports from Australia

In 2022, shipments abroad of wire rod of free-cutting steel increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, free-cutting steel wire rod exports soared to $X in 2022. Overall, exports, however, recorded a pronounced contraction. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons) and Vanuatu (X tons) were the main destinations of free-cutting steel wire rod exports from Australia.

From 2012 to 2022, the biggest increases were recorded for Vanuatu (with a CAGR of X%).

In value terms, New Zealand ($X) and Vanuatu ($X) were the largest markets for free-cutting steel wire rod exported from Australia worldwide.

Among the main countries of destination, Vanuatu, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average free-cutting steel wire rod export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price showed a strong increase. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to Vanuatu amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wire Rod Of Free-Cutting Steel

Imports into Australia

In 2022, supplies from abroad of wire rod of free-cutting steel increased by X% to X tons, rising for the second year in a row after six years of decline. Over the period under review, imports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, free-cutting steel wire rod imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a perceptible shrinkage. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) was the main supplier of free-cutting steel wire rod to Australia, with a X% share of total imports. Moreover, free-cutting steel wire rod imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Italy (X% per year).

In value terms, Germany ($X) constituted the largest supplier of wire rod of free-cutting steel to Australia, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the average free-cutting steel wire rod import price amounted to $X per ton, growing by X% against the previous year. In general, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, free-cutting steel wire rod import price increased by X% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Italy ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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