Eastern Asia: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Eastern Asia

The East Asian hot-rolled steel products market reduced modestly to $X in 2021, falling by -2.9% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then fell in the following year.

Hot-Rolled Steel Products Production in Eastern Asia

In value terms, hot-rolled steel products production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 27% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports in Eastern Asia

In 2021, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) were finally on the rise to reach X tons for the first time since 2015, thus ending a five-year declining trend. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 26%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel products exports surged to $X in 2021. The total export value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons) and China (X tons) represented roughly 70% of total exports in 2021. South Korea (X tons) ranks next in terms of the total exports with a 20% share, followed by Taiwan (Chinese) (9.4%).

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +3.1%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest hot-rolled steel products supplying countries in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), with a combined 90% share of total exports.

China, with a CAGR of +4.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, surging by 53% against the previous year. Export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.3% 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, major exporting countries recorded the following prices: in South Korea ($X per ton) and Taiwan (Chinese) ($X per ton), while Japan ($X per ton) and China ($X per ton) were 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 more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports in Eastern Asia

In 2021, after two years of growth, there was significant decline in supplies from abroad of flat-rolled products of iron or steel (not further worked than hot-rolled), when their volume decreased by -30.4% to X tons. Over the period under review, imports saw a perceptible setback. The pace of growth appeared the most rapid in 2020 with an increase of 18% against the previous year. As a result, imports attained the peak of X tons, and then shrank markedly in the following year.

In value terms, hot-rolled steel products imports surged to $X in 2021. Overall, imports saw a slight decrease. The pace of growth was the most pronounced in 2017 with an increase of 22%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) and China (X tons) represented the key importers of flat-rolled products of iron or steel (not further worked than hot-rolled) in Eastern Asia, together resulting at near 68% of total imports. Taiwan (Chinese) (X tons) took the next position in the ranking, followed by Japan (X tons). All these countries together held approx. 30% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +3.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, South Korea ($X), China ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of imports in 2021, with a combined 88% share of total imports.

Taiwan (Chinese), with a CAGR of +4.5%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, jumping by 66% against the previous year. Import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 Taiwan (Chinese) ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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