Central Asia: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Central Asia

The Central Asian market for raw steel and steel semi-finished products totaled $X in 2021, flattening at the previous year. In general, consumption showed a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Raw Steel And Steel Semi-Finished Products in Central Asia

In value terms, production of raw steel and steel semi-finished products declined to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.6% against 2017 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 70% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports in Central Asia

In 2021, overseas shipments of raw steel and steel semi-finished products increased by 48% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports saw a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 555% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of raw steel and steel semi-finished products skyrocketed to $X in 2021. In general, exports continue to indicate a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of raw steel and steel semi-finished products, namely Kazakhstan, represented more than two-thirds of total export.

Kazakhstan was also the fastest-growing in terms of the raw steel and steel semi-finished products exports, with a CAGR of +6.7% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest raw steel and steel semi-finished products supplier in Central Asia.

In Kazakhstan, exports of raw steel and steel semi-finished products expanded at an average annual rate of +6.5% over the period from 2012-2021.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, jumping by 38% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 211%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to -0.2% per year.

Imports of Raw Steel And Steel Semi-Finished Products

Imports in Central Asia

In 2021, approx. X tons of raw steel and steel semi-finished products were imported in Central Asia; rising by 50% on the previous year. Overall, imports posted a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 247% against the previous year. Over the period under review, imports of attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, imports of raw steel and steel semi-finished products surged to $X in 2021. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 252% against the previous year. Over the period under review, imports of reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Kazakhstan (X tons) represented the largest importer of raw steel and steel semi-finished products, creating 75% of total imports. It was distantly followed by Uzbekistan (X tons), mixing up a 21% share of total imports. Turkmenistan (X tons) took a minor share of total imports.

Kazakhstan was also the fastest-growing in terms of the raw steel and steel semi-finished products imports, with a CAGR of +82.5% from 2012 to 2021. Uzbekistan (-3.0%) and Turkmenistan (-9.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Kazakhstan and Uzbekistan increased by +72 and +21 percentage points, respectively.

In value terms, the largest raw steel and steel semi-finished products importing markets in Central Asia were Kazakhstan ($X), Uzbekistan ($X) and Turkmenistan ($X), together comprising 100% of total imports.

Kazakhstan, with a CAGR of +51.1%, recorded the highest rates of growth with regard to 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

In 2021, the import price in Central Asia amounted to $X per ton, jumping by 27% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable descent. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Uzbekistan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+25.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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