U.S.: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in the U.S.

The U.S. iron and steel wire market contracted to $X in 2022, shrinking by X% against the previous year. In general, the total consumption indicated resilient 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. Iron and steel wire consumption peaked at $X in 2021, and then fell in the following year.

Production of Iron and Steel Wire in the U.S.

In value terms, iron and steel wire production reduced modestly to $X in 2022. Over the period under review, the total production indicated a remarkable 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, production increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Iron and steel wire production peaked at $X in 2021, and then reduced slightly in the following year.

Exports of Iron and Steel Wire

Exports from the U.S.

In 2022, shipments abroad of iron and steel wire increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, iron and steel wire exports skyrocketed to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X tons), Mexico (X tons) and Brazil (X tons) were the main destinations of iron and steel wire exports from the United States, with a combined X% share of total exports. The UK, Belgium, China and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for iron and steel wire exported from the United States were Mexico ($X), Canada ($X) and China ($X), together comprising X% of total exports.

Among the main countries of destination, China, with a CAGR of X%, recorded the highest growth rate of 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 2022, picking up by X% against the previous year. Over the period under review, export price indicated prominent growth 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, iron and steel wire export price increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Belgium ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into the U.S.

In 2022, the amount of iron and steel wire imported into the United States contracted to X tons, falling by X% compared with 2021. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, iron and steel wire imports soared to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Mexico (X tons), Canada (X tons) and China (X tons) were the main suppliers of iron and steel wire imports to the United States, together comprising X% of total imports. South Korea, Vietnam, India, Japan, Germany and Italy lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Canada ($X) and China ($X) were the largest iron and steel wire suppliers to the United States, together comprising X% of total imports. South Korea, India, Japan, Germany, Vietnam and Italy lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to 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 iron and steel wire import price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :