Pakistan: Steel Stranded Wire Market 2024

Steel Stranded Wire Market Size in Pakistan

In 2022, the Pakistani steel stranded wire market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a temperate expansion. Steel stranded wire consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Steel Stranded Wire Exports

Exports from Pakistan

In 2022, shipments abroad of iron or steel stranded wire, ropes and cables increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, recorded a sharp shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel stranded wire exports expanded significantly to $X in 2022. Over the period under review, exports, however, faced a significant decrease. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and Djibouti (X tons) were the main destinations of steel stranded wire exports from Pakistan, with a combined X% share of total exports. China, Germany and New Zealand lagged somewhat behind, together accounting for 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 China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for iron or steel stranded wire, ropes and cables exports from Pakistan, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by Djibouti, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Djibouti (X% per year).

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price, however, posted a mild expansion. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to New Zealand ($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 Afghanistan (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Steel Stranded Wire Imports

Imports into Pakistan

In 2022, the amount of iron or steel stranded wire, ropes and cables imported into Pakistan dropped notably to X tons, which is down by X% compared with 2021. Overall, imports, however, continue to indicate a moderate increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, steel stranded wire imports skyrocketed to $X in 2022. In general, imports, however, recorded a temperate increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel stranded wire to Pakistan, with a X% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sixfold. The third position in this ranking was taken by Malaysia (X tons), with a X% share.

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

In value terms, China ($X) constituted the largest supplier of iron or steel stranded wire, ropes and cables to Pakistan, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average steel stranded wire import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2016; however, from 2017 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 South Korea ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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