CIS wire rope market
Steel product consumption growth decelerated sharply in the CIS in H1 2013. In Russia, the consumption added a mere 3% as compared with H1 2012 (6% over 2012).
At the same time, imports of high-technology products into the region – stainless and alloyed steel, most of metal products (wire, steel wire cords, ropes, fastenings, etc.) – are increasing at a fast, double-digit pace. The CIS market is still attractive to foreign suppliers: it is more often now that demand for high added value products is met with imports, so production can be built in the region to substitute foreign-origin steel.
The brief analysis of the wire rope market given below can illustrate the situation.
Among CIS countries, the biggest markets for wire ropes are Russia, Ukraine and Kazakhstan.
The range of products consumed in the market is wide.
Demand from miners and oil and gas producers, whose requirements for strength and geometrical parameters of wire ropes are increasing, is growing at the fastest speed. This resulted in the growth of imports and the expansion of the imports' share in consumption. So, in H1 2013 wire rope imports to Russia increased by over 17% y-o-y (while apparent consumption grew by a mere 3.3%).
Wire rope consumption is expected to be rising in the region by some 5-8% yearly in the coming five years.
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