Bahrain: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Bahrain

In 2022, after three years of growth, there was decline in the Bahraini cold-rolled steel products market, when its value decreased by -1.2% to $X. In general, consumption, however, recorded strong growth. Cold-rolled steel products consumption peaked at $X in 2021, and then fell slightly in the following year.

Cold-Rolled Steel Products Production in Bahrain

In value terms, cold-rolled steel products production declined slightly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by 3.6%. As a result, production reached the peak level of $X, and then fell in the following year.

Cold-Rolled Steel Products Exports

Exports from Bahrain

In 2022, the amount of flat-rolled products of iron or steel (not further worked than cold-rolled) exported from Bahrain reduced slightly to X tons, dropping by -3.2% compared with 2021 figures. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 136% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, cold-rolled steel products exports rose sharply to $X in 2022. Over the period under review, exports faced a abrupt downturn. The growth pace was the most rapid in 2018 when exports increased by 123% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X tons), Italy (X tons) and the United Arab Emirates (X tons) were the main destinations of cold-rolled steel products exports from Bahrain, with a combined 84% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +1.8%), while the other leaders experienced a decline.

In value terms, the largest markets for cold-rolled steel products exported from Bahrain were Belgium ($X), Italy ($X) and the United Arab Emirates ($X), with a combined 77% share of total exports.

Among the main countries of destination, Belgium, with a CAGR of -5.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average cold-rolled steel products export price amounted to $X per ton, picking up by 14% against the previous year. Over the period under review, the export price, however, saw a noticeable decrease. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+26.8%), while the prices for the other major destinations experienced mixed trend patterns.

Cold-Rolled Steel Products Imports

Imports into Bahrain

In 2022, cold-rolled steel products imports into Bahrain amounted to X tons, growing by 1.7% compared with the year before. In general, imports posted a tangible expansion. The growth pace was the most rapid in 2018 when imports increased by 42% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; afterwards, it flattened through to 2022.

In value terms, cold-rolled steel products imports reached $X in 2022. Overall, imports continue to indicate a mild increase. The most prominent rate of growth was recorded in 2018 when imports increased by 46% against the previous year. Imports peaked at $X in 2019; afterwards, it flattened through to 2022.

Imports by Country

China (X tons), Saudi Arabia (X tons) and India (X tons) were the main suppliers of cold-rolled steel products imports to Bahrain, together accounting for 68% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +19.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) appeared to be the largest cold-rolled steel products suppliers to Bahrain, together accounting for 57% of total imports.

The United Arab Emirates, with a CAGR of +14.4%, saw 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 2022, the average cold-rolled steel products import price amounted to $X per ton, almost unchanged from the previous year. Overall, the import price recorded a pronounced reduction. The pace of growth appeared the most rapid in 2021 when the average import price increased by 5.2% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform