Asia: Market for Raw Steel And Steel Semi-Finished Products 2025

Market Size for Raw Steel And Steel Semi-Finished Products in Asia

The Asian market for raw steel and steel semi-finished products shrank modestly to $X in 2021, approximately mirroring the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2020, and then declined slightly in the following year.

Production of Raw Steel And Steel Semi-Finished Products in Asia

In value terms, production of raw steel and steel semi-finished products amounted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 26% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production of growth remained at a lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports in Asia

In 2021, exports of raw steel and steel semi-finished products in Asia surged to X tons, growing by 18% against the year before. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +50.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 32% against the previous year. Over the period under review, the exports of reached the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, exports of raw steel and steel semi-finished products skyrocketed to $X in 2021. In general, exports enjoyed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X tons), Indonesia (X tons) and Japan (X tons) was the major exporter of raw steel and steel semi-finished products in Asia, achieving 53% of total export. Iran (X tons) took the next position in the ranking, followed by the United Arab Emirates (X tons), Malaysia (X tons), Kazakhstan (X tons), Turkey (X tons) and Oman (X tons). All these countries together took approx. 37% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +120.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), India ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 58% of total exports.

Indonesia, with a CAGR of +104.2%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 58% against the previous year. Export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Indonesia ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+6.1%), while the other leaders experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports in Asia

For the fourth year in a row, Asia recorded growth in purchases abroad of raw steel and steel semi-finished products, which increased by 1.7% to X tons in 2021. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +85.0% against 2017 indices. The growth pace was the most rapid in 2020 when imports increased by 62%. Over the period under review, imports of reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, imports of raw steel and steel semi-finished products soared to $X in 2021. Overall, imports continue to indicate a tangible expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons), distantly followed by Turkey (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons), Thailand (X tons) and the Philippines (X tons) were the major importers of raw steel and steel semi-finished products, together comprising 82% of total imports. South Korea (X tons) and Kazakhstan (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Kazakhstan (with a CAGR of +82.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported raw steel and steel semi-finished products in Asia, comprising 36% of total imports. The second position in the ranking was held by Turkey ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +39.6%. In the other countries, the average annual rates were as follows: Turkey (+11.0% per year) and Taiwan (Chinese) (+3.3% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, jumping by 57% against the previous year. Import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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