Price for Wire of Other Alloy Steel in Canada - 2023
Contents:
- Price for Wire of Other Alloy Steel in Canada (CIF) - 2022
- Price for Wire of Other Alloy Steel in Canada (FOB) - 2023
- Imports of Wire of Other Alloy Steel in Canada
- Exports of Wire of Other Alloy Steel in Canada
Price for Wire of Other Alloy Steel in Canada (CIF) - 2022
The average import price for wire of other alloy steels stood at $2,263 per ton in 2022, picking up by 13% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 17%. As a result, import price attained the peak level of $2,658 per ton. From 2017 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($3,649 per ton), while the price for Turkey ($1,409 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Wire of Other Alloy Steel in Canada (FOB) - 2023
In June 2023, the average export price for wire of other alloy steels amounted to $1,849 per ton, shrinking by -42.3% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 when the average export price increased by 79% m-o-m. As a result, the export price reached the peak level of $3,204 per ton, and then shrank rapidly in the following month.
As there is only one major export destination, the average price level is determined by prices for the United States.
From December 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to -0.2% per month.
Imports of Wire of Other Alloy Steel in Canada
In 2022, wire of other alloy steel imports into Canada rose remarkably to 31K tons, surging by 6.2% compared with the previous year's figure. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +15.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 64% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, wire of other alloy steel imports surged to $70M in 2022. In general, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +17.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Wire of Other Alloy Steel in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 12.1 | 10.1 | 15.6 | 18.8 | 15.8% |
| South Korea | 14.9 | 10.1 | 13.5 | 16.4 | 3.2% |
| China | 5.3 | 5.2 | 10.8 | 9.9 | 23.2% |
| Italy | 4.1 | 3.5 | 4.6 | 9.0 | 30.0% |
| Turkey | N/A | 0.9 | 4.0 | 4.5 | 123.6% |
| Japan | 2.5 | 1.9 | 5.7 | 4.2 | 18.9% |
| India | N/A | 0.1 | 0.4 | 2.9 | 438.5% |
| Germany | 3.0 | 1.8 | 0.8 | 1.0 | -30.7% |
| Others | 1.7 | 3.0 | 3.2 | 3.7 | 29.6% |
| Total | 43.7 | 36.7 | 58.7 | 70.4 | 17.2% |
Top Suppliers of Wire of Other Alloy Steel to Canada in 2022:
- South Korea (6.5K tons)
- China (6.3K tons)
- United States (5.5K tons)
- Italy (3.9K tons)
- Turkey (3.2K tons)
- India (1.8K tons)
- Japan (1.8K tons)
- Germany (0.3K tons)
Exports of Wire of Other Alloy Steel in Canada
In 2022, shipments abroad of wire of other alloy steels decreased by -27.7% to 24K tons for the first time since 2018, thus ending a three-year rising trend. Overall, total exports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +13.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 75% against the previous year.
In value terms, wire of other alloy steel exports reduced to $48M in 2022. Over the period under review, exports, however, saw a significant increase. The growth pace was the most rapid in 2020 when exports increased by 63% against the previous year.
| Export of Wire of Other Alloy Steel in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 20.8 | 34.2 | 49.9 | 47.3 | 31.5% |
| Others | 0.5 | 0.6 | 1.1 | 1.2 | 33.9% |
| Total | 21.3 | 34.8 | 51.0 | 48.5 | 31.6% |
Top Export Markets for Wire of Other Alloy Steel from Canada in 2022:
- United States (23.7K tons)
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