Japan: Market for Raw Steel And Steel Semi-Finished Products 2025

Market Size for Raw Steel And Steel Semi-Finished Products in Japan

In 2021, after two years of decline, there was significant growth in the Japanese market for raw steel and steel semi-finished products, when its value increased by 15% to $X. Overall, consumption, however, recorded a perceptible downturn. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Raw Steel And Steel Semi-Finished Products in Japan

In value terms, production of raw steel and steel semi-finished products skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2017 with an increase of 41%. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Japan

Exports of raw steel and steel semi-finished products from Japan fell to X tons in 2021, with a decrease of -10.4% on the previous year. Overall, exports recorded a perceptible slump. The pace of growth was the most pronounced in 2020 when exports increased by 17%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of raw steel and steel semi-finished products skyrocketed to $X in 2021. Over the period under review, exports recorded a perceptible setback. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), South Korea (X tons) and Thailand (X tons) were the main destinations of exports of raw steel and steel semi-finished products from Japan, with a combined 77% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +14.0%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), South Korea ($X) and Thailand ($X) appeared to be the largest markets for raw steel and steel semi-finished products exported from Japan worldwide, with a combined 78% share of total exports.

Thailand, with a CAGR of +17.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2021, increasing by 64% against the previous year. Overall, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.5% 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 attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to the Philippines ($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 the United States (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Japan

In 2021, after two years of decline, there was significant growth in supplies from abroad of raw steel and steel semi-finished products, when their volume increased by 38% to X tons. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 57%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of raw steel and steel semi-finished products soared to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of raw steel and steel semi-finished products to Japan, with a 66% share of total imports. Moreover, imports of raw steel and steel semi-finished products from South Korea exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea stood at -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+311.8% per year) and Indonesia (+156.1% per year).

In value terms, the largest raw steel and steel semi-finished products suppliers to Japan were South Korea ($X), China ($X) and Malaysia ($X), together comprising 89% of total imports.

Among the main suppliers, Malaysia, with a CAGR of +167.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for raw steel and steel semi-finished products amounted to $X per ton, with an increase of 83% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for South Korea ($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 (+2.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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