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China - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

China - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

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Sep 16, 2024

China's Export of Hot-Rolled Steel Bar and Rod Sees Minor Increase, Reaching $7.1 Billion in 2023

China Hot-Rolled Steel Bar and Rod Exports

In 2023, the amount of hot-rolled steel bars and rods exported from China surged to 10M tons, picking up by 44% compared with 2022. Overall, exports, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 81% against the previous year. The exports peaked at 43M tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, hot-rolled steel bar and rod exports expanded modestly to $7.1B (IndexBox estimates) in 2023. In general, exports, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2021 when exports increased by 65% against the previous year. The exports peaked at $15.6B in 2015; however, from 2016 to 2023, the exports remained at a lower figure.China Hot-Rolled Steel Bar and Rod Exports By Country (Million USD)

COUNTRYExport Value of Hot-Rolled Steel Bar and Rod in China (million USD)
20132014201520162017201820192020202120222023
South Korea1,3201,6231,4951,5581,6071,0451,1276931,3371,1551,208
Thailand8089841,0381,219594765526354462541505
Vietnam4917221,003750435463432287505491430
Indonesia5551,0341,2031,340617542387258426456425
Philippines4061,2391,1751,190573557249161290264325
Hong Kong73977963157848120778.214724589.3298
India17865555822916725018669.991.6128171
Singapore92094480167738036311873.319743.266.4
Others4,2167,3557,6955,7662,9603,5272,2241,6332,5243,6183,654
Total9,63215,33415,60013,3057,8147,7185,3273,6756,0776,7867,083

Exports by Country

South Korea (1.8M tons) was the main destination for hot-rolled steel bar and rod exports from China, accounting for a 18% share of total exports. Moreover, hot-rolled steel bar and rod exports to South Korea exceeded the volume sent to the second major destination, Thailand (727K tons), twofold. Indonesia (612K tons) ranked third in terms of total exports with a 6% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to South Korea totaled -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-6.0% per year) and Indonesia (-4.4% per year).

In value terms, South Korea ($1.2B) remains the key foreign market for hot-rolled steel bars and rods exports from China, comprising 17% of total exports. The second position in the ranking was taken by Thailand ($505M), with a 7.1% share of total exports. It was followed by Vietnam, with a 6.1% share.

From 2013 to 2023, the average annual growth rate of value to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-4.6% per year) and Vietnam (-1.3% per year).

Exports by Type

Iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (3.9M tons), iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (2.9M tons) and hot-rolled bars in bearing steels (2.1M tons) were the main products of hot-rolled steel bar and rod exports from China, together accounting for 88% of total exports.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (with a CAGR of +54.2%), while the other products experienced more modest paces of growth.

In value terms, hot-rolled steel bars and rods with the largest exports in China were iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($2.4B), iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling ($2B) and hot-rolled bars in bearing steels ($1.7B), with a combined 86% share of total exports.

In terms of the main product categories, iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils, with a CAGR of +51.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices by Country

In 2023, the hot-rolled steel bar and rod price stood at $697 per ton (FOB, China), waning by -27.3% against the previous year. Overall, the export price, however, continues to indicate a mild increase. The most prominent rate of growth was recorded in 2016 an increase of 135% against the previous year. Over the period under review, the average export prices hit record highs at $959 per ton in 2022, and then fell remarkably in the following year.

Average prices varied somewhat for the major external markets. In 2023, amid the top suppliers, the highest price was recorded for prices to India ($778 per ton) and Vietnam ($750 per ton), while the average price for exports to Mongolia ($526 per ton) and Myanmar ($560 per ton) were amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in China. 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 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
  • Prodcom 24106120 - Wire rod of free-cutting steel
  • Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
  • Prodcom 24106140 - Wire rod for tyre cord
  • Prodcom 24106190 - Other wire rod (of non-alloy steel)
  • Prodcom 24106210 - Hot-rolled concrete reinforcing bars
  • Prodcom 24106230 - Hot-rolled bars in free-cutting steels
  • Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
  • Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
  • Prodcom 24106410 - Hot-rolled round bars, of stainless steel
  • Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
  • Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
  • Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
  • Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
  • Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
  • Prodcom 24106630 - Hot-rolled bars in bearing steels
  • Prodcom 24106640 - Hot-rolled bars in tool steels
  • Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in China
  • 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 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    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 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    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, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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