U.S.: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in the U.S.

The U.S. market for raw steel and steel semi-finished products fell to $X in 2022, reducing by X% against the previous year. In general, 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. Consumption of peaked 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 the U.S.

In value terms, production of raw steel and steel semi-finished products reduced remarkably to $X in 2022. In general, production, however, saw a temperate increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Production of peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from the U.S.

In 2022, after two years of growth, there was significant decline in shipments abroad of raw steel and steel semi-finished products, when their volume decreased by X% to X tons. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports 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 totaled $X in 2022. In general, exports faced a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for exports of raw steel and steel semi-finished products from the United States, with a X% share of total exports. Moreover, exports of raw steel and steel semi-finished products to Canada exceeded the volume sent to the second major destination, Mexico (X tons), sixfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Canada ($X) remains the key foreign market for raw steel and steel semi-finished products exports from the United States, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and China (X% per year).

Export Prices by Country

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2022, picking up by X% against the previous year. Overall, export price indicated resilient 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. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

Imports of Raw Steel And Steel Semi-Finished Products

Imports into the U.S.

In 2022, approx. X tons of raw steel and steel semi-finished products were imported into the United States; waning by X% against 2021 figures. Over the period under review, imports saw a perceptible slump. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of raw steel and steel semi-finished products dropped sharply to $X in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports of reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X tons), Mexico (X tons) and Canada (X tons) were the main suppliers of imports of raw steel and steel semi-finished products to the United States, with a combined X% share of total imports. Romania, Russia, Italy, Australia and Japan lagged somewhat behind, together comprising a further X%.

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

In value terms, Brazil ($X), Mexico ($X) and Canada ($X) constituted the largest raw steel and steel semi-finished products suppliers to the United States, together comprising X% of total imports. Romania, Russia, Italy, Australia and Japan lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Romania, with a CAGR of X%, saw 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

The average import price for raw steel and steel semi-finished products stood at $X per ton in 2022, rising by X% against the previous year. Overall, import price indicated a measured expansion 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 most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform

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