China: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in China

The Chinese non-alloy steel u-section market reached $X in 2022, flattening at the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Non-Alloy Steel U-Section Production in China

In value terms, non-alloy steel u-section production rose sharply to $X in 2022 estimated in export price. In general, the total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.6% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 44% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Non-Alloy Steel U-Section Exports

Exports from China

In 2022, shipments abroad of u-sections of non-alloy steel increased by 72% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of 89% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-alloy steel u-section exports soared to $X in 2022. In general, exports enjoyed significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 71%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The Philippines (X tons), Malaysia (X tons) and the United Arab Emirates (X tons) were the main destinations of non-alloy steel u-section exports from China, together accounting for 47% of total exports. South Korea, Nigeria, Saudi Arabia, Vietnam, Ghana, Tanzania, Kenya, Indonesia and Myanmar lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +100.2%), while the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X) remains the key foreign market for u-sections of non-alloy steel exports from China, comprising 51% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 9.4% share of total exports. It was followed by South Korea, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to the Philippines totaled +58.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+37.3% per year) and South Korea (+108.2% per year).

Export Prices by Country

In 2022, the average non-alloy steel u-section export price amounted to $X per ton, waning by -4.6% against the previous year. Over the period under review, the export price, however, enjoyed a prominent increase. The growth pace was the most rapid in 2020 when the average export price increased by 91%. The export price peaked at $X per ton in 2021, and then shrank slightly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to the United Arab Emirates ($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 the Philippines (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Alloy Steel U-Section Imports

Imports into China

In 2022, approx. X tons of u-sections of non-alloy steel were imported into China; growing by 1.7% against the previous year's figure. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 28% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, non-alloy steel u-section imports rose significantly to $X in 2022. Overall, total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +33.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 43% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), South Korea (X tons) and Turkey (X tons) were the main suppliers of non-alloy steel u-section imports to China, together comprising 48% of total imports. Germany, Japan, Spain, Oman, the UK, the United States, South Africa and Australia lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Oman (with a CAGR of +704.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-alloy steel u-section suppliers to China were South Korea ($X), Germany ($X) and Thailand ($X), with a combined 51% share of total imports. Turkey, Japan, Spain, Oman, the UK, the United States, South Africa and Australia lagged somewhat behind, together accounting for a further 30%.

Oman, with a CAGR of +834.1%, recorded the highest growth rate of 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 non-alloy steel u-section import price amounted to $X per ton, growing by 12% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 26%. The import price peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :