Southern Asia: Market for Hot-Rolled Bars Of Silico-Manganese Steel 2024

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

In 2021, the South Asian hot-rolled silico-manganese steel bar market was finally on the rise to reach $X after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. 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 Hot-Rolled Bars Of Silico-Manganese Steel in Southern Asia

In value terms, hot-rolled silico-manganese steel bar production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2017 when the production volume increased by 18%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Bars Of Silico-Manganese Steel

Exports in Southern Asia

In 2021, approx. X tons of hot-rolled bars of silico-manganese steel were exported in Southern Asia; with an increase of 33% compared with 2020. In general, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of 107% 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 lower figure.

In value terms, hot-rolled silico-manganese steel bar exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 when exports increased by 95%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from India (X tons), together reaching 100% of total export.

India was also the fastest-growing in terms of the hot-rolled bars of silico-manganese steel exports, with a CAGR of -7.0% 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 silico-manganese steel bar supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India amounted to -7.4%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, jumping by 31% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 -0.4% per year.

Imports of Hot-Rolled Bars Of Silico-Manganese Steel

Imports in Southern Asia

For the sixth year in a row, Southern Asia recorded decline in overseas purchases of hot-rolled bars of silico-manganese steel, which decreased by -31% to X tons in 2021. Overall, imports saw a deep reduction. The most prominent rate of growth was recorded in 2015 when imports increased by 677%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled silico-manganese steel bar imports declined rapidly to $X in 2021. In general, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2015 when imports increased by 482% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) represented the main importer of hot-rolled bars of silico-manganese steel, committing 51% of total imports. Afghanistan (X tons) held a 31% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (8.9%) and Bangladesh (4.9%). Nepal (X tons) followed a long way behind the leaders.

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 +15.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, India ($X) constitutes the largest market for imported hot-rolled bars of silico-manganese steel in Southern Asia, comprising 52% of total imports. The second position in the ranking was taken by Afghanistan ($X), with a 19% share of total imports. It was followed by Pakistan, with a 14% share.

In India, hot-rolled silico-manganese steel bar imports increased at an average annual rate of +1.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Afghanistan (-20.6% per year) and Pakistan (+17.8% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, rising by 5.5% against the previous year. In general, the import price, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2018 an increase of 22%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+5.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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