Central Asia: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Central Asia

The Central Asian hot-rolled steel products market amounted to $X in 2021, growing by 3.4% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Hot-Rolled Steel Products Production in Central Asia

In value terms, hot-rolled steel products production fell to $X in 2021 estimated in export price. In general, production saw a mild reduction. The pace of growth appeared the most rapid in 2013 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports in Central Asia

In 2021, shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 6.4% to X tons, rising for the second consecutive year after three years of decline. In general, exports enjoyed temperate growth. The most prominent rate of growth was recorded in 2020 when exports increased by 176% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled steel products exports soared to $X in 2021. Overall, exports saw a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 118% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Kazakhstan (X tons) represented roughly 100% of total exports in 2021.

Kazakhstan was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than hot-rolled) exports, with a CAGR of +3.2% 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 hot-rolled steel products supplier in Central Asia.

In Kazakhstan, hot-rolled steel products exports increased at an average annual rate of +5.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, increasing by 79% against the previous year. Export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 +2.6% per year.

Hot-Rolled Steel Products Imports

Imports in Central Asia

In 2021, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) imported in Central Asia soared to X tons, rising by 27% against the previous year. Over the period under review, imports saw strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 76%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, hot-rolled steel products imports soared to $X in 2021. In general, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 111% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Uzbekistan was the main importing country with an import of around X tons, which resulted at 66% of total imports. It was distantly followed by Kazakhstan (X tons), mixing up a 28% share of total imports. The following importers - Mongolia (X tons) and Kyrgyzstan (X tons) - each recorded a 4.3% share of total imports.

Uzbekistan was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than hot-rolled) imports, with a CAGR of +170.2% from 2012 to 2021. At the same time, Kazakhstan (+6.3%) and Mongolia (+2.0%) displayed positive paces of growth. By contrast, Kyrgyzstan (-2.8%) illustrated a downward trend over the same period. Uzbekistan (+66 p.p.) significantly strengthened its position in terms of the total imports, while Mongolia, Kyrgyzstan and Kazakhstan saw its share reduced by -6%, -9.4% and -41.4% from 2012 to 2021, respectively.

In value terms, Uzbekistan ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than hot-rolled) in Central Asia, comprising 67% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 28% share of total imports. It was followed by Kyrgyzstan, with a 2% share.

In Uzbekistan, hot-rolled steel products imports expanded at an average annual rate of +154.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+6.4% per year) and Kyrgyzstan (-2.9% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, increasing by 54% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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