Japan: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2024

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Japan

The Japanese market for hot-rolled wire rod in coil of stainless steel contracted to $X in 2022, waning by -13.8% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Hot-rolled wire stainless steel rod consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Japan

In value terms, hot-rolled wire stainless steel rod production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2018 with an increase of 7.9%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports from Japan

In 2022, overseas shipments of hot-rolled wire rod in coil of stainless steel increased by 4.2% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 22%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, hot-rolled wire stainless steel rod exports surged to $X in 2022. In general, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.8% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 35% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main destinations of hot-rolled wire stainless steel rod exports from Japan, together accounting for 70% of total exports. Thailand, Germany, Malaysia, Vietnam and India lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +24.1%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for hot-rolled wire rod in coil of stainless steel exports from Japan, comprising 44% of total exports. The second position in the ranking was held by South Korea ($X), with a 17% share of total exports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-1.1% per year) and Taiwan (Chinese) (-4.0% per year).

Export Prices by Country

The average export price for hot-rolled wire rod in coil of stainless steel stood at $X per ton in 2022, jumping by 27% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled wire stainless steel rod export price increased by +86.1% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports into Japan

In 2022, hot-rolled wire stainless steel rod imports into Japan contracted modestly to X tons, with a decrease of -1.6% against the year before. Over the period under review, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 50%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, hot-rolled wire stainless steel rod imports rose remarkably to $X in 2022. Overall, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 71% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Korea (X tons) constituted the largest hot-rolled wire stainless steel rod supplier to Japan, accounting for a 65% share of total imports. Moreover, hot-rolled wire stainless steel rod imports from South Korea exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+0.7% per year) and China (+0.8% per year).

In value terms, South Korea ($X) constituted the largest supplier of hot-rolled wire rod in coil of stainless steel to Japan, comprising 64% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 17% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from South Korea stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.8% per year) and China (+1.9% per year).

Import Prices by Country

The average import price for hot-rolled wire rod in coil of stainless steel stood at $X per ton in 2022, surging by 16% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 17% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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