Northern America: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Northern America

The North American market for raw steel and steel semi-finished products declined to $X in 2022, with a decrease of X% against the previous year. The total consumption indicated slight 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. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Raw Steel And Steel Semi-Finished Products in Northern America

In value terms, production of raw steel and steel semi-finished products contracted notably to $X in 2022 estimated in export price. In general, production, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports in Northern America

In 2022, exports of raw steel and steel semi-finished products in Northern America shrank modestly to X tons, waning by X% on the previous year's figure. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of raw steel and steel semi-finished products expanded sharply to $X in 2022. In general, exports saw a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Canada (X tons) represented the major exporter of raw steel and steel semi-finished products, committing X% of total exports. It was distantly followed by the United States (X tons), making up a X% share of total exports.

Canada was also the fastest-growing in terms of the raw steel and steel semi-finished products exports, with a CAGR of X% from 2012 to 2022. The United States (X%) illustrated a downward trend over the same period. While the share of Canada (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (X p.p.) displayed negative dynamics.

In value terms, Canada ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2022.

Canada, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Imports of Raw Steel And Steel Semi-Finished Products

Imports in Northern America

Imports of raw steel and steel semi-finished products fell notably to X tons in 2022, which is down by X% against the previous year's figure. Overall, imports showed a noticeable setback. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of raw steel and steel semi-finished products dropped remarkably to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2022, the United States (X tons) was the major importer of raw steel and steel semi-finished products, mixing up X% of total imports. It was distantly followed by Canada (X tons), constituting a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to raw steel and steel semi-finished products imports into the United States stood at X%. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2022. Canada (X p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported raw steel and steel semi-finished products in Northern America, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports.

In the United States, imports of raw steel and steel semi-finished products remained relatively stable over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated perceptible 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, import price for raw steel and steel semi-finished products increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform

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