Dominican Republic: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in the Dominican Republic

The Dominican free-cutting steel wire rod market declined modestly to $X in 2022, which is down 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). In general, consumption, however, continues to indicate a buoyant increase. As a result, consumption attained the peak level of $X, and then fell slightly in the following year.

Exports of Wire Rod Of Free-Cutting Steel

Exports from the Dominican Republic

In 2022, overseas shipments of wire rod of free-cutting steel increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, showed a significant contraction. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, free-cutting steel wire rod exports surged to $X in 2022. In general, exports, however, continue to indicate a precipitous decline. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Haiti (X tons) and Suriname (X tons) were the main destinations of free-cutting steel wire rod exports from the Dominican Republic, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for free-cutting steel wire rod exported from the Dominican Republic were the United States ($X), Haiti ($X) and Suriname ($X), with a combined X% share of total exports.

The United States, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average free-cutting steel wire rod export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price recorded a mild descent. The growth pace was the most rapid in 2021 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then fell markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Suriname ($X per ton), while the average price for exports to Haiti ($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 Suriname (X%), while the prices for the other major destinations experienced a decline.

Imports of Wire Rod Of Free-Cutting Steel

Imports into the Dominican Republic

In 2022, free-cutting steel wire rod imports into the Dominican Republic shrank to X tons, reducing by X% compared with the previous year. Overall, imports, however, posted a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, free-cutting steel wire rod imports contracted slightly to $X in 2022. Over the period under review, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then contracted modestly in the following year.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of free-cutting steel wire rod to the Dominican Republic, with a X% share of total imports. Moreover, free-cutting steel wire rod imports from Brazil exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. China (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 Brazil amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and China (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of wire rod of free-cutting steel to the Dominican Republic, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and China (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. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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