Australia and Oceania: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in Australia and Oceania

The non-alloy steel u-section market in Australia and Oceania reduced to $X in 2022, shrinking by -14.1% against the previous year. Over the period under review, consumption saw a abrupt slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Alloy Steel U-Section Production in Australia and Oceania

In value terms, non-alloy steel u-section production skyrocketed to $X in 2022 estimated in export price. In general, production, however, recorded a deep downturn. The growth pace was the most rapid in 2020 when the production volume increased by 166%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Non-Alloy Steel U-Section Exports

Exports in Australia and Oceania

For the third consecutive year, Australia and Oceania recorded growth in shipments abroad of u-sections of non-alloy steel, which increased by 88% to X tons in 2022. In general, exports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 246% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, non-alloy steel u-section exports soared to $X in 2022. Overall, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 224% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Australia (X tons), together recording 100% of total export.

Australia was also the fastest-growing in terms of the u-sections of non-alloy steel exports, with a CAGR of -10.7% from 2012 to 2022. While the share of Australia (+5.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest non-alloy steel u-section supplier in Australia and Oceania.

In Australia, non-alloy steel u-section exports decreased by an average annual rate of -10.9% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, with an increase of 22% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 48% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to -0.2% per year.

Non-Alloy Steel U-Section Imports

Imports in Australia and Oceania

In 2022, imports of u-sections of non-alloy steel in Australia and Oceania fell remarkably to X tons, with a decrease of -31.6% against the previous year's figure. In general, imports, however, enjoyed a modest increase. The most prominent rate of growth was recorded in 2019 when imports increased by 130%. Over the period under review, imports attained the peak figure at X tons in 2021, and then declined notably in the following year.

In value terms, non-alloy steel u-section imports shrank sharply to $X in 2022. Over the period under review, imports, however, showed a notable expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 138%. The level of import peaked at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

Australia (X tons) and New Zealand (X tons) dominates imports structure, together making up 95% of total imports. Papua New Guinea (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Papua New Guinea (with a CAGR of +17.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Australia ($X), New Zealand ($X) and Papua New Guinea ($X) were the countries with the highest levels of imports in 2022, with a combined 99% share of total imports.

Papua New Guinea, with a CAGR of +17.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, picking up by 24% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section import price increased by +56.2% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by 26% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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