Australia: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Australia

After three years of decline, the Australian market for hot-rolled steel bars and rods increased by 6.9% to $X in 2021. Overall, consumption, however, continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 when the market value increased by 8.1%. Hot-rolled steel bar and rod consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Hot-Rolled Steel Bars and Rods in Australia

In value terms, hot-rolled steel bar and rod production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of 8.4% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Australia

In 2021, shipments abroad of hot-rolled steel bars and rods decreased by -9.6% to X tons, falling for the second consecutive year after two years of growth. In general, total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -37.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 118%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled steel bar and rod exports totaled $X in 2021. Over the period under review, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.7% 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 decreased by -30.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 120% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons) was the main destination for hot-rolled steel bar and rod exports from Australia, accounting for a 95% share of total exports. It was followed by Indonesia (X tons), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to New Zealand amounted to +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-7.3% per year) and the United States (+3.6% per year).

In value terms, New Zealand ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Australia, comprising 93% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 2.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to New Zealand stood at +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-9.3% per year) and the United States (+4.0% per year).

Export Prices by Country

The average export price for hot-rolled steel bars and rods stood at $X per ton in 2021, growing by 22% against the previous year. Over the period under review, the export price, however, showed a slight contraction. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.4%), while the prices for the other major destinations experienced a decline.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Australia

In 2021, supplies from abroad of hot-rolled steel bars and rods was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, saw a dramatic descent. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, hot-rolled steel bar and rod imports skyrocketed to $X in 2021. Over the period under review, imports, however, faced a abrupt downturn. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Oman (X tons), Germany (X tons) and India (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Australia, with a combined 31% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Oman (with a CAGR of +137.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Germany ($X) and Oman ($X) constituted the largest hot-rolled steel bar and rod suppliers to Australia, together comprising 27% of total imports.

Oman, with a CAGR of +164.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for hot-rolled steel bars and rods amounted to $X per ton, with an increase of 15% against the previous year. Overall, the import price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2019 an increase of 37% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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