Vietnam: Market for Hot-Rolled Bars Of Silico-Manganese Steel 2025

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

In 2021, the Vietnamese hot-rolled silico-manganese steel bar market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, showed a perceptible descent. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Hot-Rolled Bars Of Silico-Manganese Steel in Vietnam

In value terms, hot-rolled silico-manganese steel bar production soared to $X in 2021 estimated in export price. Overall, production, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2014 with an increase of 50% against the previous year. Over the period under review, production reached 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 from Vietnam

Hot-rolled silico-manganese steel bar exports from Vietnam totaled X tons in 2021, surging by 5.9% compared with the previous year's figure. In general, exports posted a prominent expansion. The growth pace was the most rapid in 2015 when exports increased by 716%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled silico-manganese steel bar exports reduced notably to $X in 2021. Over the period under review, exports, however, recorded a slight descent. The growth pace was the most rapid in 2015 when exports increased by 988%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for hot-rolled silico-manganese steel bar exports from Vietnam, accounting for a 60% share of total exports. Moreover, hot-rolled silico-manganese steel bar exports to China exceeded the volume sent to the second major destination, Brazil (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (0.0% per year) and the United States (-35.3% per year).

In value terms, China ($X), Brazil ($X) and the United States ($X) appeared to be the largest markets for hot-rolled silico-manganese steel bar exported from Vietnam worldwide, with a combined 74% share of total exports. Cambodia, Thailand, Japan and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 25%.

Among the main countries of destination, Cambodia, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hot-rolled silico-manganese steel bar export price stood at $X per ton in 2021, with a decrease of -47% against the previous year. Overall, the export price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2017 an increase of 50%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+0.1%), while the prices for the other major destinations experienced a decline.

Imports of Hot-Rolled Bars Of Silico-Manganese Steel

Imports into Vietnam

After three years of growth, purchases abroad of hot-rolled bars of silico-manganese steel decreased by -36.4% to X tons in 2021. Over the period under review, imports faced a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 218%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled silico-manganese steel bar imports dropped to $X in 2021. Overall, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 161%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of hot-rolled silico-manganese steel bar to Vietnam, accounting for a 67% share of total imports. Moreover, hot-rolled silico-manganese steel bar imports from China exceeded the figures recorded by the second-largest supplier, Israel (X tons), sixfold. The third position in this ranking was held by Japan (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (0.0% per year) and Japan (+29.4% per year).

In value terms, China ($X) constituted the largest supplier of hot-rolled bars of silico-manganese steel to Vietnam, comprising 61% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by Israel, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+21.3% per year) and Israel (0.0% per year).

Import Prices by Country

The average hot-rolled silico-manganese steel bar import price stood at $X per ton in 2021, with an increase of 43% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Germany ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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