Singapore: Market for Hot-Rolled Bars Of Silico-Manganese Steel 2025

Market Size for Hot-Rolled Bars Of Silico-Manganese Steel in Singapore

In 2021, after four years of decline, there was significant growth in the Singaporean hot-rolled silico-manganese steel bar market, when its value increased by 11% to $X. In general, consumption, however, showed a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Hot-Rolled Bars Of Silico-Manganese Steel in Singapore

In value terms, hot-rolled silico-manganese steel bar production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by 662% against the previous year. Hot-rolled silico-manganese steel bar production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Bars Of Silico-Manganese Steel

Exports from Singapore

After three years of growth, overseas shipments of hot-rolled bars of silico-manganese steel decreased by -97.7% to X tons in 2021. Over the period under review, exports showed a deep contraction. The pace of growth was the most pronounced in 2014 with an increase of 9,115%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled silico-manganese steel bar exports shrank rapidly to $X in 2021. In general, exports saw a drastic downturn. The pace of growth was the most pronounced in 2014 with an increase of 5,389% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sri Lanka (X tons), Indonesia (X tons) and Vietnam (X kg) were the main destinations of hot-rolled silico-manganese steel bar exports from Singapore, together accounting for 78% 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 Sri Lanka (with a CAGR of +30.4%), while the other leaders experienced a decline.

In value terms, the largest markets for hot-rolled silico-manganese steel bar exported from Singapore were Vietnam ($X), Sri Lanka ($X) and China ($X), with a combined 79% share of total exports.

In terms of the main countries of destination, Sri Lanka, with a CAGR of +22.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average hot-rolled silico-manganese steel bar export price stood at $X per ton in 2021, with an increase of 739% against the previous year. Over the period under review, the export price showed a measured expansion. 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 Vietnam ($X per ton), while the average price for exports to Indonesia ($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 China (+43.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars Of Silico-Manganese Steel

Imports into Singapore

For the third year in a row, Singapore recorded decline in purchases abroad of hot-rolled bars of silico-manganese steel, which decreased by -39% to X tons in 2021. In general, imports showed a dramatic decline. The most prominent rate of growth was recorded in 2018 with an increase of 703% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled silico-manganese steel bar imports contracted sharply to $X in 2021. Over the period under review, imports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2018 with an increase of 555%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), China (X tons) and the Czech Republic (X tons) were the main suppliers of hot-rolled silico-manganese steel bar imports to Singapore, together comprising 96% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +25.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of hot-rolled bars of silico-manganese steel to Singapore, comprising 53% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 23% share of total imports. It was followed by China, with an 18% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-14.8% per year) and China (+20.3% per year).

Import Prices by Country

The average hot-rolled silico-manganese steel bar import price stood at $X per ton in 2021, falling by -20.2% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 280% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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