Saudi Arabia: Cold-Rolled Steel Products Market 2025

Cold-Rolled Steel Products Market Size in Saudi Arabia

The Saudi cold-rolled steel products market amounted to $X in 2022, growing by 8.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a abrupt downturn. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Cold-Rolled Steel Products Exports

Exports from Saudi Arabia

Cold-rolled steel products exports from Saudi Arabia declined markedly to X tons in 2022, dropping by -43.9% compared with the year before. In general, exports recorded a deep slump. The pace of growth appeared the most rapid in 2016 when exports increased by 104% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cold-rolled steel products exports declined dramatically to $X in 2022. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 94%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Jordan (X tons) was the main destination for cold-rolled steel products exports from Saudi Arabia, accounting for a 68% share of total exports. Moreover, cold-rolled steel products exports to Jordan exceeded the volume sent to the second major destination, Djibouti (X tons), sixfold. The third position in this ranking was held by Somalia (X tons), with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Jordan stood at -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Djibouti (+38.5% per year) and Somalia (+12.0% per year).

In value terms, Jordan ($X) emerged as the key foreign market for flat-rolled products of iron or steel (not further worked than cold-rolled) exports from Saudi Arabia, comprising 75% of total exports. The second position in the ranking was held by Somalia ($X), with a 7.2% share of total exports. It was followed by Bahrain, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Jordan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Somalia (-0.8% per year) and Bahrain (-6.7% per year).

Export Prices by Country

The average cold-rolled steel products export price stood at $X per ton in 2022, growing by 36% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products export price increased by +26.6% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Djibouti ($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 Jordan (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Saudi Arabia

In 2022, cold-rolled steel products imports into Saudi Arabia expanded significantly to X tons, with an increase of 10% compared with 2021. Over the period under review, imports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2019 with an increase of 92% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, cold-rolled steel products imports rose to $X in 2022. In general, imports, however, saw a abrupt downturn. The growth pace was the most rapid in 2019 with an increase of 49%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of cold-rolled steel products to Saudi Arabia, with a 31% share of total imports. Moreover, cold-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. India (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.5% per year) and India (-1.9% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to Saudi Arabia, comprising 32% of total imports. The second position in the ranking was taken by South Korea ($X), with a 4.5% share of total imports. It was followed by Japan, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-4.4% per year) and Japan (-0.7% per year).

Import Prices by Country

The average cold-rolled steel products import price stood at $X per ton in 2022, which is down by -5.5% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 52%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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