Eastern Asia: Market for Raw Steel And Steel Semi-Finished Products 2025

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

The East Asian market for raw steel and steel semi-finished products shrank to $X in 2021, remaining constant against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped modestly in the following year.

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

In value terms, production of raw steel and steel semi-finished products stood at $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 26%. As a result, production reached the peak level of $X. From 2019 to 2021, production of growth failed to regain momentum.

Exports of Raw Steel And Steel Semi-Finished Products

Exports in Eastern Asia

In 2021, exports of raw steel and steel semi-finished products in Eastern Asia fell to X tons, dropping by -13.1% against the previous year's figure. Over the period under review, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 24%. Over the period under review, the exports of reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of raw steel and steel semi-finished products surged to $X in 2021. Overall, exports continue to indicate a abrupt downturn. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Japan was the major exporter of raw steel and steel semi-finished products in Eastern Asia, with the volume of exports finishing at X tons, which was near 86% of total exports in 2021. It was distantly followed by South Korea (X tons), making up a 12% share of total exports.

Japan was also the fastest-growing in terms of the raw steel and steel semi-finished products exports, with a CAGR of -4.5% from 2012 to 2021. South Korea (-14.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan increased by +16 percentage points.

In value terms, Japan ($X) remains the largest raw steel and steel semi-finished products supplier in Eastern Asia, comprising 83% of total exports. The second position in the ranking was held by South Korea ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Japan amounted to -3.0%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, growing by 65% against the previous year. Export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.4% 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.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per ton), while Japan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.5%).

Imports of Raw Steel And Steel Semi-Finished Products

Imports in Eastern Asia

After three years of growth, supplies from abroad of raw steel and steel semi-finished products decreased by -12.7% to X tons in 2021. In general, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 153% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, imports of raw steel and steel semi-finished products soared to $X in 2021. Overall, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 130%. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

China was the major importer of raw steel and steel semi-finished products in Eastern Asia, with the volume of imports recording X tons, which was approx. 68% of total imports in 2021. Taiwan (Chinese) (X tons) held the second position in the ranking, distantly followed by South Korea (X tons). All these countries together took approx. 30% share of total imports.

China was also the fastest-growing in terms of the raw steel and steel semi-finished products imports, with a CAGR of +48.1% from 2012 to 2021. At the same time, Taiwan (Chinese) (+1.3%) displayed positive paces of growth. By contrast, South Korea (-5.3%) illustrated a downward trend over the same period. While the share of China (+62 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-28.6 p.p.) and Taiwan (Chinese) (-31.2 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported raw steel and steel semi-finished products in Eastern Asia, comprising 70% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 20% share of total imports.

In China, imports of raw steel and steel semi-finished products expanded at an average annual rate of +39.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+3.3% per year) and South Korea (-3.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with an increase of 68% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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