Iran: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Iran

The Iranian hot-rolled steel products market reached $X in 2021, flattening at the previous year. Over the period under review, consumption recorded a pronounced slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Hot-Rolled Steel Products Production in Iran

In value terms, hot-rolled steel products production expanded slightly to $X in 2021 estimated in export price. In general, production showed a noticeable downturn. The growth pace was the most rapid in 2017 when the production volume increased by 17%. Hot-rolled steel products production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports from Iran

For the third consecutive year, Iran recorded decline in shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled), which decreased by -9.2% to X tons in 2021. Overall, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2014 when exports increased by 113% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel products exports dropped notably to $X in 2021. Over the period under review, exports, however, recorded a noticeable expansion. The pace of growth appeared the most rapid in 2014 with an increase of 104% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), the United Arab Emirates (X tons) and India (X tons) were the main destinations of hot-rolled steel products exports from Iran, together comprising 85% of total exports. Oman, Thailand, Qatar and Portugal lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +34.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel products exported from Iran were the United Arab Emirates ($X), Spain ($X) and India ($X), with a combined 79% share of total exports. Thailand, Oman, Qatar and Portugal lagged somewhat behind, together comprising a further 15%.

Among the main countries of destination, Qatar, with a CAGR of +29.3%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the average hot-rolled steel products export price amounted to $X per ton, which is down by -7.6% against the previous year. Overall, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 9% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (-1.2%), while the prices for the other major destinations experienced a decline.

Hot-Rolled Steel Products Imports

Imports into Iran

For the fifth consecutive year, Iran recorded decline in purchases abroad of flat-rolled products of iron or steel (not further worked than hot-rolled), which decreased by -16.5% to X tons in 2021. Overall, imports recorded a sharp downturn. The growth pace was the most rapid in 2014 with an increase of 69%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, hot-rolled steel products imports reached $X in 2021. In general, imports saw a dramatic contraction. The pace of growth was the most pronounced in 2014 with an increase of 64%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Russia (X tons), the United Arab Emirates (X tons) and China (X tons) were the main suppliers of hot-rolled steel products imports to Iran, together accounting for 58% of total imports. Kazakhstan, Cyprus, South Korea, Turkey and Germany lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Cyprus (with a CAGR of +9.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest hot-rolled steel products suppliers to Iran were China ($X), the United Arab Emirates ($X) and Russia ($X), with a combined 47% share of total imports. South Korea, Germany, Kazakhstan, Cyprus and Turkey lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Cyprus, with a CAGR of +10.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average hot-rolled steel products import price stood at $X per ton in 2021, jumping by 21% against the previous year. Overall, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled steel products import price increased by +18.5% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 33%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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