Asia: Hot-Rolled Free-Cutting Steel Market 2025

Hot-Rolled Free-Cutting Steel Market Size in Asia

In 2021, the Asian hot-rolled free-cutting steel market increased by 9.3% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, showed a noticeable slump. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Hot-Rolled Free-Cutting Steel Production in Asia

In value terms, hot-rolled free-cutting steel production amounted to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced descent. The pace of growth was the most pronounced in 2015 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports in Asia

In 2021, the amount of hot-rolled bars in free-cutting steels exported in Asia shrank notably to X tons, reducing by -16.1% on 2020. Overall, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2013 when exports increased by 25%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, hot-rolled free-cutting steel exports dropped to $X in 2021. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 14% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia was the largest exporter of hot-rolled bars in free-cutting steels in Asia, with the volume of exports recording X tons, which was approx. 58% of total exports in 2021. The United Arab Emirates (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (7.7%), Thailand (6.6%) and Turkey (5.8%). Japan (X tons) and China (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to hot-rolled free-cutting steel exports from Saudi Arabia stood at +9.2%. At the same time, the United Arab Emirates (+17.8%) and Turkey (+8.9%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of +17.8% from 2012-2021. By contrast, China (-1.9%), Thailand (-18.9%), Taiwan (Chinese) (-21.3%) and Japan (-28.2%) illustrated a downward trend over the same period. Saudi Arabia (+47 p.p.), the United Arab Emirates (+11 p.p.) and Turkey (+4.7 p.p.) significantly strengthened its position in terms of the total exports, while Thailand, Taiwan (Chinese) and Japan saw its share reduced by -11.4%, -19.8% and -27.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest hot-rolled free-cutting steel supplier in Asia, comprising 47% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Taiwan (Chinese), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia amounted to +9.4%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+17.4% per year) and Taiwan (Chinese) (-25.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, increasing by 9.9% against the previous year. In general, the export price, however, continues to indicate a noticeable reduction. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+1.1%), while the other leaders experienced more modest paces of growth.

Hot-Rolled Free-Cutting Steel Imports

Imports in Asia

In 2021, hot-rolled free-cutting steel imports in Asia shrank to X tons, which is down by -8.3% on 2020. Overall, imports faced a abrupt descent. The pace of growth appeared the most rapid in 2013 when imports increased by 41% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel imports surged to $X in 2021. In general, imports saw a deep slump. The most prominent rate of growth was recorded in 2017 when imports increased by 60%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Turkey represented the largest importer of hot-rolled bars in free-cutting steels in Asia, with the volume of imports reaching X tons, which was near 34% of total imports in 2021. Saudi Arabia (X tons) took the second position in the ranking, followed by Taiwan (Chinese) (X tons), India (X tons), Kuwait (X tons) and Myanmar (X tons). All these countries together held approx. 42% share of total imports. The following importers - Singapore (X tons), Hong Kong SAR (X tons), China (X tons), Lao People's Democratic Republic (X tons), Bahrain (X tons) and Thailand (X tons) - together made up 16% of total imports.

Imports into Turkey increased at an average annual rate of +13.4% from 2012 to 2021. At the same time, Saudi Arabia (+42.2%), Myanmar (+35.0%), Taiwan (Chinese) (+31.1%), Kuwait (+17.8%) and Bahrain (+5.1%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in Asia, with a CAGR of +42.2% from 2012-2021. By contrast, China (-1.2%), India (-10.2%), Hong Kong SAR (-13.3%), Lao People's Democratic Republic (-28.3%), Thailand (-30.2%) and Singapore (-34.2%) illustrated a downward trend over the same period. Turkey (+31 p.p.), Saudi Arabia (+12 p.p.), Taiwan (Chinese) (+11 p.p.), Myanmar (+4.5 p.p.), Kuwait (+4.4 p.p.), India (+2.1 p.p.), China (+2.1 p.p.) and Bahrain (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Lao People's Democratic Republic, Thailand and Singapore saw its share reduced by -10.4%, -11.2% and -41.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported hot-rolled bars in free-cutting steels in Asia, comprising 31% of total imports. The second position in the ranking was held by India ($X), with a 15% share of total imports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +13.0%. The remaining importing countries recorded the following average annual rates of imports growth: India (-4.4% per year) and Taiwan (Chinese) (+30.2% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, picking up by 46% against the previous year. Import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled free-cutting steel import price increased by +158.5% against 2016 indices. 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 Hong Kong SAR ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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