India: Hot-Rolled Free-Cutting Steel Market 2025

Hot-Rolled Free-Cutting Steel Market Size in India

In 2021, after four years of growth, there was significant decline in the Indian hot-rolled free-cutting steel market, when its value decreased by -44.5% to $X. Overall, consumption recorded a deep downturn. Hot-rolled free-cutting steel consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports from India

In 2021, the amount of hot-rolled bars in free-cutting steels exported from India surged to X tons, growing by 97% compared with the year before. Overall, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2017 when exports increased by 659%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, hot-rolled free-cutting steel exports skyrocketed to $X in 2021. Over the period under review, exports saw buoyant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 563% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

The United States (X tons) was the main destination for hot-rolled free-cutting steel exports from India, with a 47% share of total exports. Moreover, hot-rolled free-cutting steel exports to the United States exceeded the volume sent to the second major destination, Turkey (X tons), threefold. Thailand (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +220.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (0.0% per year) and Thailand (-8.9% per year).

In value terms, the United States ($X) remains the key foreign market for hot-rolled bars in free-cutting steels exports from India, comprising 43% of total exports. The second position in the ranking was taken by Turkey ($X), with a 19% share of total exports. It was followed by Thailand, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +196.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (0.0% per year) and Thailand (-13.7% per year).

Export Prices by Country

The average hot-rolled free-cutting steel export price stood at $X per ton in 2021, surging by 5.4% against the previous year. In general, the export price, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2019 an increase of 21%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, the countries with the highest prices were Argentina ($X per ton) and Thailand ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+12.6%), while the prices for the other major destinations experienced a decline.

Hot-Rolled Free-Cutting Steel Imports

Imports into India

In 2021, overseas purchases of hot-rolled bars in free-cutting steels decreased by -57.6% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 347% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel imports soared to $X in 2021. In general, imports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 with an increase of 247% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest hot-rolled free-cutting steel supplier to India, with a 90% share of total imports. Moreover, hot-rolled free-cutting steel imports from Germany exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +318.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+68.3% per year) and Singapore (+194.5% per year).

In value terms, Germany ($X) constituted the largest supplier of hot-rolled bars in free-cutting steels to India, comprising 55% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +308.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+70.6% per year) and Singapore (+186.6% per year).

Import Prices by Country

The average hot-rolled free-cutting steel import price stood at $X per ton in 2021, picking up by 180% against the previous year. Over the period under review, the import price saw a prominent expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Germany ($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) (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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