Eastern Asia: Cold-Rolled Steel Products Market 2025

Cold-Rolled Steel Products Market Size in Eastern Asia

The East Asian cold-rolled steel products market surged to $X in 2022, jumping by 92% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Cold-Rolled Steel Products Production in Eastern Asia

In value terms, cold-rolled steel products production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 14%. As a result, production reached the peak level of $X, and then dropped in the following year.

Cold-Rolled Steel Products Exports

Exports in Eastern Asia

In 2022, approx. X tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were exported in Eastern Asia; shrinking by -16% on the year before. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, the exports reached the peak of X tons, and then fell sharply in the following year.

In value terms, cold-rolled steel products exports rose modestly to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +80.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 76% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

In 2022, China (X tons), South Korea (X tons) and Japan (X tons) was the main exporter of flat-rolled products of iron or steel (not further worked than cold-rolled) in Eastern Asia, mixing up 88% of total export. It was distantly followed by Taiwan (Chinese) (X tons), achieving a 12% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +4.1%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, China ($X) remains the largest cold-rolled steel products supplier in Eastern Asia, comprising 54% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports. It was followed by South Korea, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +11.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-1.1% per year) and South Korea (-2.9% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, growing by 22% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products export price increased by +53.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 26% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the other leaders experienced mixed trends in the export price figures.

Cold-Rolled Steel Products Imports

Imports in Eastern Asia

In 2022, imports of flat-rolled products of iron or steel (not further worked than cold-rolled) in Eastern Asia fell modestly to X tons, waning by -2.1% against 2021 figures. Overall, imports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2020 when imports increased by 7.1%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, cold-rolled steel products imports totaled $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 28%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

China represented the main importing country with an import of about X tons, which resulted at 57% of total imports. Japan (X tons) ranks second in terms of the total imports with a 19% share, followed by South Korea (15%) and Taiwan (Chinese) (8%).

From 2012 to 2022, average annual rates of growth with regard to cold-rolled steel products imports into China stood at -2.8%. At the same time, Taiwan (Chinese) (+2.5%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +2.5% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-1.4%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+3 p.p.) and Japan (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-2.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than cold-rolled) in Eastern Asia, comprising 63% of total imports. The second position in the ranking was taken by Japan ($X), with a 17% share of total imports. It was followed by South Korea, with a 15% share.

In China, cold-rolled steel products imports increased at an average annual rate of +1.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+2.0% per year) and South Korea (+1.0% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, picking up by 15% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products import price increased by +51.3% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by 32% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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