Report Update: May 1, 2024

Panama - Iron Or Steel Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends And Insights

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Steel Stranded Wire Price in Panama - 2023

Steel Stranded Wire Price in Panama (CIF) - 2023

The average steel stranded wire import price stood at $1,367 per ton in November 2023, waning by -22.4% against the previous month. Overall, the import price showed a mild curtailment. The pace of growth was the most pronounced in June 2023 when the average import price increased by 54% m-o-m. The import price peaked at $2,804 per ton in February 2023; however, from March 2023 to November 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was South Korea ($18,286 per ton), while the price for China ($826 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by South Korea (+0.1%), while the prices for the other major suppliers experienced a decline.

Steel Stranded Wire Price in Panama (FOB) - 2022

In 2022, the average steel stranded wire export price amounted to $2,732 per ton, flattening at the previous year. Over the period under review, the export price showed a pronounced decline. The pace of growth was the most pronounced in 2018 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices hit record highs at $3,505 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Cuba ($2,878 per ton) and Guatemala ($2,872 per ton), while the average price for exports to Costa Rica ($2,648 per ton) and Venezuela ($2,648 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (-1.2%), while the prices for the other major destinations experienced a decline.

Steel Stranded Wire Imports in Panama

In 2022, after two years of decline, there was significant growth in purchases abroad of iron or steel stranded wire, ropes and cables, when their volume increased by 91% to 4.7K tons. Overall, imports, however, faced a sharp decline.

In value terms, steel stranded wire imports skyrocketed to $10M in 2022. Over the period under review, imports, however, showed a deep slump.

Import of Steel Stranded Wire in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	7,523	3,262	2,028	4,669	-14.7%
Free Zones	1,630	1,165	1,363	2,157	9.8%
Germany	172	28.4	100	704	60.0%
Portugal	N/A	48.6	87.7	488	216.9%
United States	709	533	243	385	-18.4%
Turkey	38.2	N/A	366	345	108.3%
South Korea	535	593	343	222	-25.4%
Mexico	439	57.3	39.6	186	-24.9%
Brazil	367	67.8	52.9	68.3	-42.9%
Others	1,335	789	1,016	786	-16.2%
Total	12,749	6,544	5,639	10,012	-7.7%

Top Suppliers of Steel Stranded Wire to Panama in 2022:

China (3477.6 tons)
Free Zones (389.2 tons)
Portugal (154.8 tons)
Turkey (140.9 tons)
Germany (118.7 tons)
Mexico (60.2 tons)
South Korea (52.1 tons)
Brazil (39.3 tons)
United States (38.6 tons)

Steel Stranded Wire Exports in Panama

In 2022, the amount of iron or steel stranded wire, ropes and cables exported from Panama totaled 248 tons, approximately mirroring 2021 figures. Over the period under review, exports saw a sharp curtailment. The smallest decline of -13.3% was in 2020.

In value terms, steel stranded wire exports totaled $679K in 2022. In general, exports recorded a precipitous contraction. The smallest decline of -14.6% was in 2020.

Export of Steel Stranded Wire in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Costa Rica	316	387	N/A	163	-19.8%
United States	16.7	110	N/A	46.3	40.5%
Nicaragua	62.3	102	N/A	43.2	-11.5%
Honduras	115	79.6	N/A	37.6	-31.1%
Venezuela	41.9	76.7	N/A	32.4	-8.2%
Dominican Republic	129	12.2	N/A	26.9	-40.7%
El Salvador	74.8	26.8	N/A	20.8	-34.7%
Others	834	563	N/A	308	-28.3%
Total	1,590	1,357	N/A	679	-24.7%

Top Export Markets for Steel Stranded Wire from Panama in 2022:

Costa Rica (61.7 tons)
United States (17.5 tons)
Nicaragua (16.3 tons)
Honduras (14.1 tons)
Venezuela (12.2 tons)
Dominican Republic (10.0 tons)
El Salvador (7.6 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the steel stranded wire market in Panama. 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:

Prodcom 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)

Country coverage:

Panama

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Panama
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023