Eastern Asia: Hot-Rolled Free-Cutting Steel Market 2025

Hot-Rolled Free-Cutting Steel Market Size in Eastern Asia

The East Asian hot-rolled free-cutting steel market amounted to $X in 2021, increasing by 5% against the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +3.9% against 2016 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Hot-Rolled Free-Cutting Steel Production in Eastern Asia

In value terms, hot-rolled free-cutting steel production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2015 with an increase of 26%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports in Eastern Asia

In 2021, the amount of hot-rolled bars in free-cutting steels exported in Eastern Asia amounted to X tons, picking up by 8.4% compared with the previous year. Overall, exports, however, showed a precipitous setback. The growth pace was the most rapid in 2018 when exports increased by 37% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel exports soared to $X in 2021. Over the period under review, exports, however, showed a precipitous contraction. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Taiwan (Chinese) (X tons) was the major exporter of hot-rolled bars in free-cutting steels, constituting 55% of total exports. It was distantly followed by Japan (X tons) and China (X tons), together generating a 45% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to hot-rolled free-cutting steel exports from Taiwan (Chinese) stood at -21.3%. China (-1.9%) and Japan (-28.2%) illustrated a downward trend over the same period. While the share of China (+16 p.p.) and Taiwan (Chinese) (+12 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-20.9 p.p.) displayed negative dynamics.

In value terms, Taiwan (Chinese) ($X), Japan ($X) and China ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 99% of total exports.

In terms of the main exporting countries, China, with a CAGR of -1.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, with an increase of 29% against the previous year. Overall, the export price, however, showed a noticeable shrinkage. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+1.1%), while the other leaders experienced mixed trends in the export price figures.

Hot-Rolled Free-Cutting Steel Imports

Imports in Eastern Asia

In 2021, overseas purchases of hot-rolled bars in free-cutting steels increased by 111% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports, however, saw a mild descent. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, hot-rolled free-cutting steel imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a slight slump. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) represented the largest importer of hot-rolled bars in free-cutting steels in Eastern Asia, with the volume of imports resulting at X tons, which was approx. 61% of total imports in 2021. It was distantly followed by Hong Kong SAR (X tons) and China (X tons), together mixing up a 36% share of total imports.

Taiwan (Chinese) was also the fastest-growing in terms of the hot-rolled bars in free-cutting steels imports, with a CAGR of +31.1% from 2012 to 2021. China (-1.2%) and Hong Kong SAR (-13.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Taiwan (Chinese) increased by +56 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Taiwan (Chinese) ($X), Hong Kong SAR ($X) and China ($X) were the countries with the highest levels of imports in 2021, together comprising 97% of total imports.

Taiwan (Chinese), with a CAGR of +30.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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

The import price in Eastern Asia stood at $X per ton in 2021, leveling off at the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 31% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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