China: Market for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) 2022

Market Size for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in China

In 2020, the Chinese iron and steel wire market increased by X% to $X, rising for the fourth year in a row after three years of decline. The market value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. Over the period under review, the market hit record highs in 2020 and is likely to continue growth in years to come.

Production of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in China

In value terms, iron and steel wire production totaled $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. Iron and steel wire production peaked in 2020 and is likely to see gradual growth in the near future.

Exports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Exports from China

In 2020, exports of wire of iron or non-alloy steel (stainless steel or other alloy steel) from China contracted slightly to X tons, which is down by -X% on the previous year. Over the period under review, total exports indicated a pronounced expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports decreased by -X% against 2018 indices. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. Over the period under review, exports attained the peak figure at X tons in 2018; however, from 2019 to 2020, exports failed to regain the momentum.

In value terms, iron and steel wire exports stood at $X in 2020. Overall, total exports indicated strong growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2008 when exports increased by X% y-o-y. Over the period under review, exports reached the peak figure in 2020 and are likely to continue growth in the near future.

Exports by Country

South Korea (X tons), Vietnam (X tons) and Thailand (X tons) were the main destinations of iron and steel wire exports from China, with a combined X% share of total exports. These countries were followed by the Philippines, the U.S., the United Arab Emirates, Malaysia, Japan, Saudi Arabia, Australia, Brazil, India and Myanmar, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel wire exported from China were Vietnam ($X), the Philippines ($X) and South Korea ($X), together accounting for X% of total exports.

Among the main countries of destination, the Philippines recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iron and steel wire export price stood at $X per ton in 2020, surging by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 when the average export price increased by X% year-to-year. The export price peaked in 2020 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Imports into China

In 2020, overseas purchases of wire of iron or non-alloy steel (stainless steel or other alloy steel) decreased by -X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports saw a noticeable decline. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. Imports peaked at X tons in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, iron and steel wire imports dropped to $X in 2020. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 when imports increased by X% y-o-y. Over the period under review, imports reached the maximum at $X in 2011; however, from 2012 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, South Korea (X tons) constituted the largest supplier of iron and steel wire to China, with a X% share of total imports. Moreover, iron and steel wire imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was occupied by Taiwan (Chinese) (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from South Korea stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-X% per year) and Taiwan (Chinese) (-X% per year).

In value terms, the largest iron and steel wire suppliers to China were Japan ($X), South Korea ($X) and Germany ($X), together accounting for X% of total imports. Taiwan (Chinese), Malaysia, Austria, Indonesia and Vietnam lagged somewhat behind, together comprising a further X Nam recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average iron and steel wire import price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2008 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per ton in 2011; however, from 2012 to 2020, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Japan, while the prices for the other major suppliers experienced more modest paces of growth.

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Source: IndexBox Platform

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