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Procurement Market Intelligence Report

Nonelectric Iron & Steel Wire
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Nonelectric Iron & Steel Wire?

What is the average price of Nonelectric Iron & Steel Wire?

This procurement report includes pricing information to help you purchase Nonelectric Iron & Steel Wire. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Nonelectric Iron & Steel Wire been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Nonelectric Iron & Steel Wire yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Nonelectric Iron & Steel Wire?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Nonelectric Iron & Steel Wire with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

The nonelectric iron and steel wire market is composed of an estimated 2,100 suppliers and has a low level of market share concentration. The top four companies, which are Nucor Corporation, ArcelorMittal, Gerdau and Worthington Industries, have generated less than 30.0% of total market revenue in 2020. The market is... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Financial Risk

Has your company ever been at risk of bankruptcy?

How does your company stay profitable during economic downturns?

How much of your revenue comes from your five largest customers?

If you lost a big customer, what impact would it have on your profitability?

How are your other divisions and ventures performing? What impact does their performance have on this division?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand?


What is the average lifespan of this particular wire?

Do you have customer assistance lines to help if there is a problem with my order?

What is the average cost of maintenance?

What sort of preventative measures can I take to avoid costly repairs?

Do you have customer assistance lines to help if there is a problem with my order?

What is the average cost of maintenance?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should include all relevant information for vendors to create a cost proposal.

Buyers should provide information about when payment will occur. For example, buyers should say whether payment is awarded upon finalization of the contract or over a period of time.

Buyers can refer to the Benchmark Price and Total Cost of Ownership sections for help creating a budget.

Selection Criteria

Buyers should specify what measures of quality they will be using to select a supplier. For example, these measures can be reputation, credentials of staff, customer service and product certification.

Buyers should choose a supplier based on the price estimate given.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should include a deadline for proposal submittals and when the contract will be awarded.

Buyers should include a time frame for the delivery to occur and dates for suppliers to survey the work area.

Buyers should include any other benchmark dates that are relevant to the project.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The nonelectric iron and steel wire market has a high level of supply chain risk, largely due to its reliance on steel as an input for manufacturing iron and steel wire. A number of factors influence steel prices, including domestic construction and industrial activity, exchange rates, global demand and more.... Subscribe to learn more.