Uzbekistan: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Uzbekistan

The Uzbek market for hot-rolled steel bars and rods soared to $X in 2021, increasing by 18% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Hot-Rolled Steel Bars and Rods in Uzbekistan

In value terms, hot-rolled steel bar and rod production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.9% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 33% against the previous year. Hot-rolled steel bar and rod production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Uzbekistan

In 2021, approx. X tons of hot-rolled steel bars and rods were exported from Uzbekistan; waning by -63.8% compared with the previous year's figure. In general, exports saw a sharp descent. The pace of growth was the most pronounced in 2018 with an increase of 35% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod exports reduced markedly to $X in 2021. Over the period under review, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 46%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore (X tons), Afghanistan (X tons) and Russia (X tons) were the main destinations of hot-rolled steel bar and rod exports from Uzbekistan, with a combined 82% share of total exports. These countries were followed by Kazakhstan, South Korea, China and Turkey, which together accounted for a further 15%.

From 2017 to 2021, the biggest increases were recorded for Kazakhstan (with a CAGR of +45.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Afghanistan ($X) and Russia ($X) constituted the largest markets for hot-rolled steel bar and rod exported from Uzbekistan worldwide, together accounting for 83% of total exports. Kazakhstan, South Korea, China and Turkey lagged somewhat behind, together comprising a further 15%.

Kazakhstan, with a CAGR of +60.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for hot-rolled steel bars and rods amounted to $X per ton, growing by 81% against the previous year. In general, export price indicated a buoyant increase from 2017 to 2021: its price increased at an average annual rate of +11.3% over the last four 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.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to China ($X per ton) and Turkey ($X per ton), while the average price for exports to Kazakhstan ($X per ton) and Afghanistan ($X per ton) were amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Uzbekistan

For the fifth year in a row, Uzbekistan recorded growth in supplies from abroad of hot-rolled steel bars and rods, which increased by 58% to X tons in 2021. Overall, imports recorded significant growth. The growth pace was the most rapid in 2017 with an increase of 15,349,002%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, hot-rolled steel bar and rod imports soared to $X in 2021. Over the period under review, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 951,173%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Russia (X tons), Kazakhstan (X tons) and Iran (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Uzbekistan, with a combined 71% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +192.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel bar and rod suppliers to Uzbekistan were Russia ($X), Kazakhstan ($X) and Iran ($X), together comprising 86% of total imports. Tajikistan and Kyrgyzstan lagged somewhat behind, together comprising a further 13%.

Tajikistan, with a CAGR of +175.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for hot-rolled steel bars and rods amounted to $X per ton, growing by 27% against the previous year. In general, the import price, however, showed a dramatic descent. The most prominent rate of growth was recorded in 2014 an increase of 46%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+22.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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