Azerbaijan: Stainless Steel Angle Market 2024

Stainless Steel Angle Market Size in Azerbaijan

In 2021, after five years of growth, there was significant decline in the Azerbaijani stainless steel angle market, when its value decreased by -6.6% to $X. Overall, consumption, however, showed a buoyant increase. Stainless steel angle consumption peaked at $X in 2020, and then shrank in the following year.

Stainless Steel Angle Production in Azerbaijan

In value terms, stainless steel angle production declined modestly to $X in 2021 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +81.8% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 16%. Stainless steel angle production peaked at $X in 2020, and then declined slightly in the following year.

Stainless Steel Angle Exports

Exports from Azerbaijan

In 2021, exports of angles, shapes and sections of stainless steel or other alloy steel from Azerbaijan shrank dramatically to X kg, which is down by -99.5% compared with the year before. Overall, exports recorded a precipitous slump. The exports peaked at X tons in 2020, and then reduced dramatically in the following year.

In value terms, stainless steel angle exports dropped significantly to $X in 2021. In general, exports continue to indicate a deep contraction. Over the period under review, the exports attained the maximum at $X in 2020, and then contracted remarkably in the following year.

Exports by Country

Russia (X kg) was the main destination for stainless steel angle exports from Azerbaijan, accounting for a 100% share of total exports. It was followed by Georgia (X kg), with a 0.3% share of total exports.

From 2016 to 2021, the average annual rate of growth in terms of volume to Russia was relatively modest.

In value terms, Russia ($X) emerged as the key foreign market for angles, shapes and sections of stainless steel or other alloy steel exports from Azerbaijan, comprising 100% of total exports. The second position in the ranking was held by Georgia ($X), with a 0.1% share of total exports.

From 2016 to 2021, the average annual growth rate of value to Russia was relatively modest.

Export Prices by Country

In 2021, the average stainless steel angle export price amounted to $X per ton, with an increase of 43% against the previous year. Over the period under review, the export price enjoyed temperate growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Russia ($X per ton), while the average price for exports to Georgia totaled $X per ton.

From 2016 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+96.1%).

Stainless Steel Angle Imports

Imports into Azerbaijan

In 2021, overseas purchases of angles, shapes and sections of stainless steel or other alloy steel decreased by -30.2% to X tons, falling for the third year in a row after three years of growth. Over the period under review, imports saw a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 283%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, stainless steel angle imports dropped to $X in 2021. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 181% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of stainless steel angle to Azerbaijan, accounting for a 69% share of total imports. Moreover, stainless steel angle imports from Russia exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. Ukraine (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume from Russia totaled -14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-6.9% per year) and Ukraine (-5.6% per year).

In value terms, Russia ($X) constituted the largest supplier of angles, shapes and sections of stainless steel or other alloy steel to Azerbaijan, comprising 51% of total imports. The second position in the ranking was held by South Korea ($X), with a 20% share of total imports. It was followed by Turkey, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from Russia amounted to -24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+0.7% per year) and Turkey (-7.0% per year).

Import Prices by Country

In 2021, the average stainless steel angle import price amounted to $X per ton, jumping by 30% against the previous year. Overall, the import price, however, saw a deep downturn. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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