U.S.: Overview of the Market for Iron, Steel And Ferroalloy 2020

Market Size for Iron, Steel And Ferroalloy in the U.S.

In 2019, after two years of growth, there was significant decline in the U.S. iron, steel and ferroalloy market, when its value decreased by -X% to $X. Overall, consumption recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2019, consumption remained at a lower figure.

Production of Iron, Steel And Ferroalloy in the U.S.

In value terms, iron, steel and ferroalloy production reduced to $X in 2019. Overall, production recorded a deep contraction. The growth pace was the most rapid in 2014 when the production volume increased by X% year-to-year. As a result, production reached the peak level of $X. From 2015 to 2019, production growth remained at a lower figure.

Exports of Iron, Steel And Ferroalloy

Exports from the U.S.

In 2019, approx. X tonnes of iron, steel and ferroalloy were exported from the U.S.; reducing by -X% on 2018 figures. In general, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Exports peaked at X tonnes in 2013; however, from 2014 to 2019, exports failed to regain the momentum.

In value terms, iron, steel and ferroalloy exports fell markedly to $X in 2019. Overall, exports recorded a abrupt slump. The pace of growth appeared the most rapid in 2017 when exports increased by X% y-o-y. Over the period under review, exports reached the peak figure at $X in 2013; however, from 2014 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tonnes), Canada (X tonnes) and Austria (X tonnes) were the main destinations of iron, steel and ferroalloy exports from the U.S., together comprising X% of total exports.

From 2013 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (+X% per year), while exports for the other leaders experienced mixed trend patterns.

In value terms, Mexico ($X), Canada ($X) and Austria ($X) were the largest markets for iron, steel and ferroalloy exported from the U.S. worldwide, together comprising X% of total exports.

Among the main countries of destination, Austria recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average iron, steel and ferroalloy export price stood at $X per tonne in 2019, growing by X% against the previous year. Overall, the export price, however, recorded a mild downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the maximum at $X per tonne in 2014; however, from 2015 to 2019, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per tonne), while the average price for exports to Austria ($X per tonne) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Canada, while the prices for the other major destinations experienced a decline.

Imports of Iron, Steel And Ferroalloy

Imports into the U.S.

In 2019, approx. X tonnes of iron, steel and ferroalloy were imported into the U.S.; declining by -X% compared with the previous year. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tonnes. From 2015 to 2019, the growth imports remained at a lower figure.

In value terms, iron, steel and ferroalloy imports declined remarkably to $X in 2019. Over the period under review, imports saw a noticeable contraction. The most prominent rate of growth was recorded in 2017 when imports increased by X% year-to-year. Imports peaked at $X in 2014; however, from 2015 to 2019, imports remained at a lower figure.

Imports by Country

Brazil (X tonnes), Canada (X tonnes) and Russia (X tonnes) were the main suppliers of iron, steel and ferroalloy imports to the U.S., with a combined X% share of total imports. Mexico, South Korea, Japan, Trinidad and Tobago, Ukraine, Germany, South Africa, Taiwan, Chinese and China lagged somewhat behind, together comprising a further X 2013 to 2019, the biggest increases were in Ukraine, while purchases for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Brazil ($X) and Mexico ($X) were the largest iron, steel and ferroalloy suppliers to the U.S., together comprising X% of total imports. South Korea, Russia, Japan, Germany, Taiwan, Chinese, Ukraine, South Africa, China and Trinidad and Tobago lagged somewhat behind, together accounting for a further X the main suppliers, Ukraine recorded the highest growth rate of 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 2019, the average iron, steel and ferroalloy import price amounted to $X per tonne, waning by -X% against the previous year. Overall, the import price recorded a slight contraction. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The import price peaked at $X per tonne in 2013; however, from 2014 to 2019, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per tonne), while the price for Trinidad and Tobago ($X per tonne) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by South Korea, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the leading suppliers of iron, steel and ferroalloy to the U.S.?

+

In value terms, Canada ($4.6B), Brazil ($3.4B) and Mexico ($2.7B) constituted the largest iron, steel and ferroalloy suppliers to the U.S., with a combined 38% share of total imports. These countries were followed by South Korea, Russia, Japan, Germany, Taiwan, Chinese, Ukraine, South Africa, China and Trinidad and Tobago, which together accounted for a further 35%.

What are the leading importers of iron, steel and ferroalloy from the U.S.?

+

In value terms, Mexico ($3.3B), Canada ($3.2B) and Austria ($75M) constituted the largest markets for iron, steel and ferroalloy exported from the U.S. worldwide, with a combined 76% share of total exports.

What is the average export price for iron, steel and ferroalloy in the U.S.?

+

In 2019, the average iron, steel and ferroalloy export price amounted to $1,346 per tonne, surging by 2.7% against the previous year.

What is the average import price for iron, steel and ferroalloy in the U.S.?

+

In 2019, the average iron, steel and ferroalloy import price amounted to $772 per tonne, shrinking by -5.4% against the previous year.