Southern Asia: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Southern Asia

In 2021, after two years of decline, there was growth in the South Asian hot-rolled steel products market, when its value increased by 3.3% to $X. Over the period under review, consumption showed a slight curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Hot-Rolled Steel Products Production in Southern Asia

In value terms, hot-rolled steel products production rose slightly to $X in 2021 estimated in export price. Overall, production showed a deep reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 8.1%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports in Southern Asia

In 2021, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) decreased by -4.3% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 166%. The volume of export peaked at X tons in 2020, and then reduced slightly in the following year.

In value terms, hot-rolled steel products exports soared to $X in 2021. Over the period under review, exports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2017 when exports increased by 184% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, India (X tons) represented the key exporter of flat-rolled products of iron or steel (not further worked than hot-rolled) in Southern Asia, constituting 99.9% of total export.

India was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than hot-rolled) exports, with a CAGR of +14.2% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest hot-rolled steel products supplier in Southern Asia.

In India, hot-rolled steel products exports increased at an average annual rate of +16.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, rising by 85% against the previous year. Export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +1.6% per year.

Hot-Rolled Steel Products Imports

Imports in Southern Asia

In 2021, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) imported in Southern Asia expanded markedly to X tons, rising by 7.1% compared with the previous year's figure. Total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 64% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled steel products imports soared to $X in 2021. Total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of flat-rolled products of iron or steel (not further worked than hot-rolled), namely Pakistan, India and Bangladesh, represented more than two-thirds of total import. It was distantly followed by Nepal (X tons), comprising a 7% share of total imports. Sri Lanka (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Pakistan (with a CAGR of +14.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Pakistan ($X) and Bangladesh ($X) constituted the countries with the highest levels of imports in 2021, with a combined 91% share of total imports.

In terms of the main importing countries, Pakistan, with a CAGR of +14.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, growing by 44% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :