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Australia - Forged Bars Of Stainless Steel - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

Australia - Forged Bars Of Stainless Steel - Market Analysis, Forecast, Size, Trends And Insights

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Oct 22, 2023

Significant Surge in August 2023 As Australia Imports Forged Stainless Steel Bars Worth $706K

Australia Forged Stainless Steel Bar Imports

In August 2023, overseas purchases of forged bars of stainless steel increased by 239% to 375 tons, rising for the second month in a row after three months of decline. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, forged stainless steel bar imports surged to $706K (IndexBox estimates) in August 2023. In general, imports, however, recorded a deep reduction. The growth pace was the most rapid in March 2023 when imports increased by 94% month-to-month.Australia Forged Stainless Steel Bar Imports By Country (Thousand USD)

COUNTRYImport Value of Forged Stainless Steel Bar in Australia (thousand USD)
Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023
Taiwan (Chinese)49950514343.22231566.4364N/A26086.596.3301
India95346753.829215119443832211015116626985.7
SwedenN/A15020.928.757.4156N/A23.42.923.839.826.449.2
UkraineN/AN/AN/AN/AN/AN/AN/AN/A84.9N/AN/AN/AN/A
Others29719832418328816479.8309970339555186271
Total1,7501,3205415467196705251,0191,169774848578706

Imports by Country

In August 2023, Taiwan (Chinese) (86 tons) constituted the largest forged stainless steel bar supplier to Australia, with a 23% share of total imports. Moreover, forged stainless steel bar imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, India (26 tons), threefold.

From August 2022 to August 2023, the average monthly rate of growth in terms of volume from Taiwan (Chinese) amounted to -2.2%. The remaining supplying countries recorded the following average monthly rates of imports growth: India (-15.3% per month) and Sweden (-9.7% per month).

In value terms, Taiwan (Chinese) ($301K) constituted the largest supplier of forged stainless steel bar to Australia, comprising 43% of total imports. The second position in the ranking was taken by India ($86K), with a 12% share of total imports.

From August 2022 to August 2023, the average monthly growth rate of value from Taiwan (Chinese) totaled -4.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: India (-18.2% per month) and Sweden (-9.6% per month).

Import Prices by Country

In August 2023, the forged stainless steel bar price amounted to $1,881 per ton (CIF, Australia), waning by -64% against the previous month. In general, the import price recorded a abrupt downturn. The pace of growth was the most pronounced in June 2023 when the average import price increased by 68% month-to-month. As a result, import price reached the peak level of $9,426 per ton. From July 2023 to August 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Sweden ($7,909 per ton), while the price for China ($803 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Sweden (+0.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for forged stainless steel bar in Australia. 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 24106450 - Forged bars, of stainless steel

Country coverage:

  • Australia

Data coverage:

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

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 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

  12. 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

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