New Zealand: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in New Zealand

In 2022, the New Zealand market for iron or steel wire products increased by X% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, continues to indicate a noticeable decline. Iron or steel wire product consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Iron or Steel Wire Products in New Zealand

In value terms, iron or steel wire product production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Wire Products

Exports from New Zealand

In 2022, shipments abroad of iron or steel wire products decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel wire product exports plummeted to $X in 2022. Over the period under review, total exports indicated moderate 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, exports decreased by X% against 2019 indices. The growth pace was the most rapid in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Australia (X tons), the UK (X tons) and China (X tons) were the main destinations of iron or steel wire product exports from New Zealand, with a combined X% share of total exports. The United States, Fiji, Japan, India and Singapore lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the UK ($X) and China ($X) appeared to be the largest markets for iron or steel wire product exported from New Zealand worldwide, together comprising X% of total exports. The United States, Fiji, Japan, India and Singapore lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, India, with a CAGR of X%, saw 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 export price for iron or steel wire products stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price posted measured growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per ton) and the United States ($X per ton), while the average price for exports to Singapore ($X per ton) and China ($X per ton) were amongst the lowest.

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

Imports of Iron or Steel Wire Products

Imports into New Zealand

Iron or steel wire product imports into New Zealand expanded rapidly to X tons in 2022, increasing by X% compared with the previous year's figure. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, iron or steel wire product imports soared to $X in 2022. In general, total imports indicated a moderate 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel wire product to New Zealand, accounting for a X% share of total imports. Moreover, iron or steel wire product imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was held by Australia (X tons), with a X% share.

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

In value terms, China ($X) constituted the largest supplier of iron or steel wire products to New Zealand, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms 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 Australia (X% per year).

Import Prices by Country

In 2022, the average import price for iron or steel wire products amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and South Korea ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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