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

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

The Azerbaijani market for hot-rolled steel bars and rods shrank notably to $X in 2021, declining by -33.1% against the previous year. In general, consumption continues to indicate a perceptible reduction. As a result, consumption attained the peak level of $X, and then dropped significantly in the following year.

Production of Hot-Rolled Steel Bars and Rods in Azerbaijan

In value terms, hot-rolled steel bar and rod production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.9% 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 +74.3% against 2013 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 8.9% against the previous year. Hot-rolled steel bar and rod production peaked at $X in 2020, and then shrank slightly in the following year.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Azerbaijan

In 2021, the amount of hot-rolled steel bars and rods exported from Azerbaijan soared to X tons, increasing by 63% compared with the previous year. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 1,186% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, hot-rolled steel bar and rod exports skyrocketed to $X in 2021. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 1,053%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Georgia (X tons) was the main destination for hot-rolled steel bar and rod exports from Azerbaijan, accounting for a 90% share of total exports. Moreover, hot-rolled steel bar and rod exports to Georgia exceeded the volume sent to the second major destination, Russia (X tons), more than tenfold. Kazakhstan (X tons) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Georgia totaled +224.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-13.1% per year) and Kazakhstan (0.0% per year).

In value terms, Georgia ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Azerbaijan, comprising 90% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 3.2% share of total exports. It was followed by Russia, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Georgia totaled +194.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (0.0% per year) and Russia (+3.6% per year).

Export Prices by Country

In 2021, the average export price for hot-rolled steel bars and rods amounted to $X per ton, picking up by 55% against the previous year. Overall, the export price, however, recorded a noticeable curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Kazakhstan ($X per ton) and Turkey ($X per ton), while the average price for exports to Turkmenistan ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Azerbaijan

In 2021, imports of hot-rolled steel bars and rods into Azerbaijan declined rapidly to X tons, waning by -63.5% on 2020. Overall, imports showed a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 49%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, hot-rolled steel bar and rod imports fell significantly to $X in 2021. In general, imports faced a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 73%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Russia (X tons) constituted the largest hot-rolled steel bar and rod supplier to Azerbaijan, accounting for a 70% share of total imports. Moreover, hot-rolled steel bar and rod imports from Russia exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), fourfold. The third position in this ranking was held by Georgia (X tons), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Russia totaled +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-27.3% per year) and Georgia (-19.3% per year).

In value terms, Russia ($X) constituted the largest supplier of hot-rolled steel bars and rods to Azerbaijan, comprising 69% of total imports. The second position in the ranking was held by Ukraine ($X), with a 17% share of total imports. It was followed by Georgia, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from Russia totaled +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-24.3% per year) and Georgia (-19.7% per year).

Import Prices by Country

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2021, surging by 43% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.2% 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 reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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