Eastern Asia: Iron Angle Market 2024

Iron Angle Market Size in Eastern Asia

In 2021, after four years of growth, there was significant decline in the East Asian iron angle market, when its value decreased by -13.5% to $X. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +68.8% against 2016 indices. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Iron Angle Production in Eastern Asia

In value terms, iron angle production reduced dramatically to $X in 2021 estimated in export price. In general, production, however, recorded resilient growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 55% against the previous year. As a result, production attained the peak level of $X, and then fell rapidly in the following year.

Iron Angle Exports

Exports in Eastern Asia

In 2021, overseas shipments of angles, shapes and sections (of iron or non-alloy steel) were finally on the rise to reach X tons after two years of decline. In general, exports, however, showed a perceptible reduction. The pace of growth was the most pronounced in 2018 with an increase of 12% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, iron angle exports soared to $X in 2021. Total exports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the main exporting country with an export of about X tons, which accounted for 45% of total exports. South Korea (X tons) ranks second in terms of the total exports with a 29% share, followed by Japan (17%) and Taiwan (Chinese) (6.6%). Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +2.7%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X) remains the largest iron angle supplier in Eastern Asia, comprising 56% of total exports. The second position in the ranking was taken by South Korea ($X), with a 23% share of total exports. It was followed by Japan, with a 13% share.

In China, iron angle exports expanded at an average annual rate of +8.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (-3.9% per year) and Japan (-5.2% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, increasing by 41% against the previous year. Export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron angle export price increased by +90.9% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the other leaders experienced more modest paces of growth.

Iron Angle Imports

Imports in Eastern Asia

In 2021, the amount of angles, shapes and sections (of iron or non-alloy steel) imported in Eastern Asia reached X tons, approximately mirroring the previous year's figure. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 12% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, iron angle imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a mild decline. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) was the largest importer of angles, shapes and sections (of iron or non-alloy steel), comprising 53% of total imports. Hong Kong SAR (X tons) took the second position in the ranking, distantly followed by China (X tons) and Taiwan (Chinese) (X tons). All these countries together took near 43% share of total imports. Japan (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to iron angle imports into South Korea stood at -1.3%. At the same time, Hong Kong SAR (+2.7%) and Taiwan (Chinese) (+2.2%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +2.7% from 2012-2021. By contrast, Japan (-1.3%) and China (-3.6%) illustrated a downward trend over the same period. Hong Kong SAR (+6 p.p.) significantly strengthened its position in terms of the total imports, while South Korea and China saw its share reduced by -3.3% and -4.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Hong Kong SAR ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 90% of total imports.

In terms of the main importing countries, Hong Kong SAR, with a CAGR of +3.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 27% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+0.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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