U.S. Iron, Steel And Ferroalloy Market. Analysis And Forecast to 2030
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View PricingPrice for Iron, Steel and Ferroalloy in the United States - 2023
Contents:
- Price for Iron, Steel and Ferroalloy in the United States (CIF) - 2023
- Price for Iron, Steel and Ferroalloy in the United States (FOB) - 2023
- Imports of Iron, Steel and Ferroalloy in the United States
- Exports of Iron, Steel and Ferroalloy in the United States
Price for Iron, Steel and Ferroalloy in the United States (CIF) - 2023
The average iron, steel and ferroalloy import price stood at $1,131 per ton in August 2023, declining by -1.8% against the previous month. In general, the import price continues to indicate a mild setback. The pace of growth was the most pronounced in April 2023 an increase of 14% month-to-month. The import price peaked at $1,427 per ton in August 2022; however, from September 2022 to August 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Germany ($2,219 per ton), while the price for Trinidad and Tobago ($420 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Japan (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Iron, Steel and Ferroalloy in the United States (FOB) - 2023
The average iron, steel and ferroalloy export price stood at $1,482 per ton in August 2023, growing by 7.8% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 an increase of 16% m-o-m. The export price peaked at $1,690 per ton in October 2022; however, from November 2022 to August 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the Netherlands ($6,896 per ton), while the average price for exports to Austria ($400 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+33.2%), while the prices for the other major destinations experienced a decline.
Imports of Iron, Steel and Ferroalloy in the United States
Iron, steel and ferroalloy imports into the United States declined to 37M tons in 2022, with a decrease of -5.3% on 2021 figures. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. As a result, imports attained the peak of 39M tons, and then fell in the following year.
In value terms, iron, steel and ferroalloy imports skyrocketed to $49.8B in 2022. Over the period under review, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of 101% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.
| Import of Iron, Steel and Ferroalloy in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 4.6 | 4.0 | 8.3 | 9.2 | 26.0% |
| Mexico | 2.6 | 2.1 | 5.0 | 6.2 | 33.6% |
| Brazil | 3.4 | 2.2 | 4.1 | 4.3 | 8.1% |
| South Korea | 2.3 | 1.5 | 2.9 | 4.3 | 23.2% |
| Taiwan (Chinese) | 0.9 | 0.6 | 1.3 | 2.0 | 30.5% |
| Japan | 1.4 | 1.0 | 1.3 | 1.9 | 10.7% |
| Germany | 1.3 | 0.9 | 1.1 | 1.9 | 13.5% |
| India | 0.3 | 0.2 | 0.8 | 1.5 | 71.0% |
| China | 0.6 | 0.4 | 0.6 | 1.3 | 29.4% |
| Russia | 1.6 | 0.9 | 2.8 | 1.3 | -6.7% |
| Vietnam | 0.5 | 0.2 | 0.9 | 1.2 | 33.9% |
| Turkey | 0.2 | 0.3 | 0.8 | 1.0 | 71.0% |
| Trinidad and Tobago | 0.6 | 0.4 | 0.8 | 0.8 | 10.1% |
| Others | 7.9 | 5.1 | 8.8 | 12.9 | 17.8% |
| Total | 28.1 | 19.7 | 39.6 | 49.8 | 21.0% |
Top Suppliers of Iron, Steel and Ferroalloy to the United States in 2022:
- Canada (6.5M tons)
- Brazil (5.0M tons)
- Mexico (4.8M tons)
- South Korea (2.6M tons)
- Japan (2.1M tons)
- Trinidad and Tobago (1.4M tons)
- Russia (1.2M tons)
- China (1.1M tons)
- India (1.0M tons)
- Germany (1.0M tons)
- Turkey (0.9M tons)
- Taiwan (Chinese) (0.9M tons)
- Vietnam (0.9M tons)
Exports of Iron, Steel and Ferroalloy in the United States
In 2022, approx. 11M tons of iron, steel and ferroalloy were exported from the United States; rising by 5.6% compared with 2021 figures. The total export volume increased at an average annual rate of +9.5% from 2019 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 with an increase of 29%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, iron, steel and ferroalloy exports skyrocketed to $16.6B in 2022. In general, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +14.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +82.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 47% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.
| Export of Iron, Steel and Ferroalloy in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 4.5 | 3.8 | 6.0 | 7.4 | 18.0% |
| Mexico | 4.2 | 3.3 | 5.3 | 6.3 | 14.5% |
| Brazil | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Netherlands | 0.1 | N/A | N/A | 0.1 | 0.0% |
| Others | 2.3 | 1.9 | 1.9 | 2.5 | 2.8% |
| Total | 11.2 | 9.1 | 13.4 | 16.6 | 14.0% |
Top Export Markets for Iron, Steel and Ferroalloy from the United States in 2022:
- Canada (4.7M tons)
- Mexico (4.0M tons)
- Netherlands (0.4M tons)
- Brazil (0.3M tons)
This report provides an in-depth analysis of the market for iron, steel and ferroalloy in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- NAICS 331110 - Iron and steel mills and ferroalloy manufacturing
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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