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

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

In 2021, the Myanmar's market for raw steel and steel semi-finished products increased by 6.9% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a pronounced decline. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

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

In value terms, production of raw steel and steel semi-finished products surged to $X in 2021 estimated in export price. Overall, production, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 20%. Production of peaked 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 Myanmar

In 2021, the amount of raw steel and steel semi-finished products exported from Myanmar skyrocketed to X tons, rising by 752% against the previous year. Over the period under review, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of raw steel and steel semi-finished products soared to $X in 2021. In general, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Philippines (X tons) was the main destination for exports of raw steel and steel semi-finished products from Myanmar, accounting for a 91% share of total exports. Moreover, exports of raw steel and steel semi-finished products to the Philippines exceeded the volume sent to the second major destination, China (X tons), more than tenfold. The third position in this ranking was taken by Indonesia (X tons), with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume to the Philippines was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+2.2% per year) and Indonesia (-3.9% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for raw steel and steel semi-finished products exports from Myanmar, comprising 96% of total exports. The second position in the ranking was held by Indonesia ($X), with a 1.6% share of total exports. It was followed by China, with a 1% share.

From 2012 to 2021, the average annual growth rate of value to the Philippines was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-13.9% per year) and China (-0.8% per year).

Export Prices by Country

In 2021, the average export price for raw steel and steel semi-finished products amounted to $X per ton, falling by -31.6% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 53%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Thailand (+4.6%), while the prices for the other major destinations experienced a decline.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Myanmar

In 2021, the amount of raw steel and steel semi-finished products imported into Myanmar fell to X tons, which is down by -14.2% compared with 2020. Overall, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 454% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of raw steel and steel semi-finished products fell sharply to $X in 2021. Over the period under review, imports recorded a drastic downturn. The growth pace was the most rapid in 2018 when imports increased by 374%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest raw steel and steel semi-finished products supplier to Myanmar, with a 89% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Malaysia exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia totaled +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-28.1% per year) and China (-7.0% per year).

In value terms, Malaysia ($X) constituted the largest supplier of raw steel and steel semi-finished products to Myanmar, comprising 80% of total imports. The second position in the ranking was taken by Japan ($X), with a 5.3% share of total imports. It was followed by Taiwan (Chinese), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia stood at -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-17.9% per year) and Taiwan (Chinese) (-27.2% per year).

Import Prices by Country

In 2021, the average import price for raw steel and steel semi-finished products amounted to $X per ton, dropping by -3.5% against the previous year. In general, the import price recorded a deep slump. The pace of growth appeared the most rapid in 2014 when the average import price increased by 51%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($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) (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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