Eastern Asia: Market for Hot-Rolled Bars Of Silico-Manganese Steel 2025

Market Size for Hot-Rolled Bars Of Silico-Manganese Steel in Eastern Asia

In 2021, the East Asian hot-rolled silico-manganese steel bar market decreased by -10.8% to $X, falling for the third consecutive year after two years of growth. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Hot-Rolled Bars Of Silico-Manganese Steel in Eastern Asia

In value terms, hot-rolled silico-manganese steel bar production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 24% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Hot-Rolled Bars Of Silico-Manganese Steel

Exports in Eastern Asia

In 2021, overseas shipments of hot-rolled bars of silico-manganese steel increased by 54% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled silico-manganese steel bar exports soared to $X in 2021. Overall, exports continue to indicate strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons) and Japan (X tons) prevails in exports structure, together mixing up 88% of total exports. It was distantly followed by China (X tons), creating a 9% share of total exports. Hong Kong SAR (X tons) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Hong Kong SAR (with a CAGR of +45.1%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and China ($X) were the countries with the highest levels of exports in 2021, with a combined 97% share of total exports. Hong Kong SAR lagged somewhat behind, comprising a further 0.7%.

In terms of the main exporting countries, Hong Kong SAR, with a CAGR of +44.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, remaining stable against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 40%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

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 South Korea ($X per ton), while Hong Kong SAR ($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 (+4.1%), while the other leaders experienced a decline in the export price figures.

Imports of Hot-Rolled Bars Of Silico-Manganese Steel

Imports in Eastern Asia

Hot-rolled silico-manganese steel bar imports soared to X tons in 2021, rising by 55% compared with 2020 figures. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 92% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, hot-rolled silico-manganese steel bar imports skyrocketed to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 98%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China dominates imports structure, recording X tons, which was near 88% of total imports in 2021. It was distantly followed by Japan (X tons), creating a 6.6% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the hot-rolled bars of silico-manganese steel imports, with a CAGR of +17.5% from 2012 to 2021. At the same time, Japan (+7.3%) displayed positive paces of growth. By contrast, Hong Kong SAR (-5.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Japan increased by +66 and +2.9 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported hot-rolled bars of silico-manganese steel in Eastern Asia, comprising 85% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value in China amounted to +7.3%. In the other countries, the average annual rates were as follows: Japan (+2.0% per year) and Hong Kong SAR (-13.6% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, reducing by -5.6% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 23% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 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 Japan ($X per ton), while Hong Kong SAR ($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 (-4.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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