South-Eastern Asia: Hot-Rolled Free-Cutting Steel Market 2025

Hot-Rolled Free-Cutting Steel Market Size in South-Eastern Asia

In 2021, the Southeast Asian hot-rolled free-cutting steel market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption showed a deep contraction. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Hot-Rolled Free-Cutting Steel Production in South-Eastern Asia

In value terms, hot-rolled free-cutting steel production rose remarkably to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 7.3%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Hot-Rolled Free-Cutting Steel Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of hot-rolled bars in free-cutting steels was finally on the rise to reach X tons after six years of decline. Overall, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 93% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel exports fell to $X in 2021. Over the period under review, exports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 80%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Thailand dominates exports structure, resulting at X tons, which was approx. 88% of total exports in 2021. It was distantly followed by Vietnam (X tons), achieving an 8.7% share of total exports.

Exports from Thailand decreased at an average annual rate of -18.9% from 2012 to 2021. Vietnam (-16.8%) illustrated a downward trend over the same period. Thailand (+5.9 p.p.) and Vietnam (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest hot-rolled free-cutting steel supplier in South-Eastern Asia, comprising 82% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at -18.9%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, dropping by -3.7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by 38% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2020, and then fell slightly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Vietnam ($X per ton), while Thailand stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.1%).

Hot-Rolled Free-Cutting Steel Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of hot-rolled bars in free-cutting steels decreased by -27.3% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports showed a dramatic descent. The growth pace was the most rapid in 2013 with an increase of 54%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, hot-rolled free-cutting steel imports reduced slightly to $X in 2021. Overall, imports recorded a dramatic downturn. The growth pace was the most rapid in 2017 with an increase of 69%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Myanmar (X tons) and Singapore (X tons) represented roughly 54% of total imports in 2021. Lao People's Democratic Republic (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (12%) and Malaysia (9%). Cambodia (X tons) and Indonesia (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +35.0%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest hot-rolled free-cutting steel importing markets in South-Eastern Asia were Myanmar ($X), Singapore ($X) and Thailand ($X), with a combined 66% share of total imports. Lao People's Democratic Republic, Malaysia, Indonesia and Cambodia lagged somewhat behind, together accounting for a further 29%.

Cambodia, with a CAGR of +38.0%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, jumping by 37% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 48% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+8.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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