Canada: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Canada

The Canadian market for hot-rolled non-alloy steel wire rods declined slightly to $X in 2022, reducing by X% against the previous year. Over the period under review, the total consumption indicated tangible growth from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. Hot-rolled non-alloy steel wire rod consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Canada

In value terms, hot-rolled non-alloy steel wire rod production fell to $X in 2022 estimated in export price. Overall, the total production indicated a slight expansion from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Canada

In 2022, after two years of growth, there was significant decline in shipments abroad of hot-rolled non-alloy steel wire rods, when their volume decreased by X% to X tons. In general, exports recorded a pronounced contraction. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports expanded sharply to $X in 2022. Overall, total exports indicated a mild increase from 2012 to 2022: its value 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Canada, with a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%.

In value terms, the United States ($X) also remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Canada.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%.

Export Prices by Country

In 2022, the average export price for hot-rolled non-alloy steel wire rods amounted to $X per ton, growing by X% against the previous year. Overall, export price indicated a perceptible increase 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, hot-rolled non-alloy steel wire rod export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Canada

In 2022, hot-rolled non-alloy steel wire rod imports into Canada was estimated at X tons, surging by X% against the year before. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, hot-rolled non-alloy steel wire rod imports skyrocketed to $X in 2022. Over the period under review, imports posted a mild increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Vietnam (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of hot-rolled non-alloy steel wire rod imports to Canada, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Vietnam ($X) and the United States ($X) were the largest hot-rolled non-alloy steel wire rod suppliers to Canada, with a combined X% share of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of X.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for hot-rolled non-alloy steel wire rods amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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