Sri Lanka: Hot-Rolled Free-Cutting Steel Market 2025

Hot-Rolled Free-Cutting Steel Market Size in Sri Lanka

The Sri Lankan hot-rolled free-cutting steel market soared to $X in 2021, increasing by 80% 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). Over the period under review, consumption, however, recorded a significant decrease. Hot-rolled free-cutting steel consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports from Sri Lanka

For the third year in a row, Sri Lanka recorded decline in overseas shipments of hot-rolled bars in free-cutting steels, which decreased by 0% to X kg in 2018. Overall, exports continue to indicate a dramatic downturn. The smallest decline of -66.8% was in 2016. Over the period under review, the exports attained the maximum at X kg in 2015; however, from 2016 to 2018, the exports remained at a lower figure.

In value terms, hot-rolled free-cutting steel exports amounted to $X in 2018. Over the period under review, exports faced a sharp shrinkage. The smallest decline of -85.9% was in 2016. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2018, the exports failed to regain momentum.

Exports by Country

Indonesia (X kg) was the main destination for hot-rolled free-cutting steel exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2015 to 2018, the average annual rate of growth in terms of volume to Indonesia was relatively modest.

From 2015 to 2018, the average annual growth rate of value to Indonesia was relatively modest.

Export Prices by Country

In 2018, the average hot-rolled free-cutting steel export price amounted to $X per ton, flattening at the previous year. Over the period under review, the export price saw a sharp setback. The most prominent rate of growth was recorded in 2016 a decrease of -57.5% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2018, the export prices remained at a lower figure.

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

From 2015 to 2018, the rate of growth in terms of prices for Seychelles amounted to -14.8% per year.

Hot-Rolled Free-Cutting Steel Imports

Imports into Sri Lanka

In 2021, hot-rolled free-cutting steel imports into Sri Lanka soared to X tons, rising by 61% on the previous year. Over the period under review, imports, however, continue to indicate a precipitous slump. The pace of growth was the most pronounced in 2018 when imports increased by 677%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel imports skyrocketed to $X in 2021. In general, imports, however, faced a precipitous contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 615%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

India (X tons), South Korea (X tons) and China (X tons) were the main suppliers of hot-rolled free-cutting steel imports to Sri Lanka, together accounting for 94% of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +43.2%), while purchases for the other leaders experienced a decline.

In value terms, the largest hot-rolled free-cutting steel suppliers to Sri Lanka were India ($X), China ($X) and South Korea ($X), together accounting for 92% of total imports.

India, with a CAGR of +33.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average hot-rolled free-cutting steel import price stood at $X per ton in 2021, surging by 18% against the previous year. Overall, the import price saw a remarkable increase. The growth pace was the most rapid in 2020 when the average import price increased by 82%. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+14.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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