Hot-Rolled Steel Products Prices in China

China Hot-Rolled Steel Products Export Price in September 2022

In September 2022, the hot-rolled steel products price stood at $971 per ton (FOB, China), declining by -7.8% against the previous month. In general, the export price saw a mild decline. The pace of growth appeared the most rapid in June 2022 when the average export price increased by 7.6% m-o-m. Over the period under review, the average export prices attained the maximum at $1,094 per ton in January 2022; however, from February 2022 to September 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In September 2022, the country with the highest price was the Philippines ($2,439 per ton), while the average price for exports to Tanzania ($710 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

China Hot-Rolled Steel Products Export Prices by Type

There were significant differences in the average prices for the major types of exported product. In September 2022, the product with the highest price was steel, stainless ($3,697 per ton), while the average price for exports of iron or non-alloy steel; in coils, without patterns in relief, flat-rolled, of a width 600mm or more, hot-rolled, pickled, of a thickness of less than 3mm ($733 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for the following types: steel, stainless; flat-rolled, width 600mm or more, hot-rolled, (not in coils), of a thickness of less than 3mm (+11.3%), while the prices for the other products experienced more modest paces of growth.

China Hot-Rolled Steel Products Exports

In September 2022, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) decreased by -23.6% to 999K tons, falling for the fourth month in a row after three months of growth. Overall, exports, however, posted perceptible growth. The most prominent rate of growth was recorded in May 2022 when exports increased by 84% against the previous month. As a result, the exports reached the peak of 2.6M tons. From June 2022 to September 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled steel products exports shrank significantly to $970M (IndexBox estimates) in September 2022. In general, exports, however, showed slight growth. The most prominent rate of growth was recorded in May 2022 with an increase of 82% against the previous month. As a result, the exports reached the peak of $2.5B. From June 2022 to September 2022, the growth of the exports failed to regain momentum.

China Hot-Rolled Steel Products Exports by Type

Iron or non-alloy steel; (not in coils), flat-rolled, of a width 600mm or more, hot-rolled, without patterns in relief, of a thickness exceeding 10mm (210K tons) was the largest type of hot-rolled steel products exported from China, accounting for a 72% share of total exports. Moreover, iron or non-alloy steel; (not in coils), flat-rolled, of a width 600mm or more, hot-rolled, without patterns in relief, of a thickness exceeding 10mm exceeded the volume of the second product type, steel, alloy (47K tons), fivefold. Iron or non-alloy steel; in coils, without patterns in relief, flat-rolled, of a width 600mm or more, hot-rolled, pickled, of a thickness of less than 3mm (19K tons) ranked third in terms of total exports with a 6.5% share.

From January 2022 to September 2022, the average monthly growth rate of the volume of export of iron or non-alloy steel; (not in coils), flat-rolled, of a width 600mm or more, hot-rolled, without patterns in relief, of a thickness exceeding 10mm totaled +6.9%. With regard to the other exported products, the following average monthly rates of growth were recorded: steel, alloy (+7.0% per month) and iron or non-alloy steel; in coils, without patterns in relief, flat-rolled, of a width 600mm or more, hot-rolled, pickled, of a thickness of less than 3mm (+6.2% per month).

In value terms, iron or non-alloy steel; (not in coils), flat-rolled, of a width 600mm or more, hot-rolled, without patterns in relief, of a thickness exceeding 10mm ($203M) remains the largest type of hot-rolled steel products exported from China, comprising 63% of total exports. The second position in the ranking was held by steel, alloy ($59M), with an 18% share of total exports. It was followed by steel, stainless; flat-rolled, width 600mm or more, hot-rolled, in coils, of a thickness of less than 3mm, with a 7.2% share.

From January 2022 to September 2022, the average monthly rate of growth in terms of the export volume of iron or non-alloy steel; (not in coils), flat-rolled, of a width 600mm or more, hot-rolled, without patterns in relief, of a thickness exceeding 10mm totaled +7.2%. With regard to the other exported products, the following average monthly rates of growth were recorded: steel, alloy (+6.2% per month) and steel, stainless; flat-rolled, width 600mm or more, hot-rolled, in coils, of a thickness of less than 3mm (+0.8% per month).

China Hot-Rolled Steel Products Exports by Country

Saudi Arabia (161K tons), South Korea (111K tons) and Vietnam (92K tons) were the main destinations of hot-rolled steel products exports from China, with a combined 36% share of total exports. Pakistan, Kenya, the United Arab Emirates, India, Tanzania, the Philippines, Nigeria, Brazil, Thailand and Peru lagged somewhat behind, together accounting for a further 34%.

From January 2022 to September 2022, the biggest increases were in Nigeria (with a CAGR of +57.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($132M), Vietnam ($96M) and South Korea ($93M) were the largest markets for hot-rolled steel products exported from China worldwide, together accounting for 33% of total exports. These countries were followed by the Philippines, the United Arab Emirates, Pakistan, India, Kenya, Thailand, Brazil, Nigeria, Tanzania and Peru, which together accounted for a further 34%.

Nigeria, with a CAGR of +51.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform