Overview of the Global Market for Hot-Rolled Bars Of Silico-Manganese Steel

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

In 2021, the global hot-rolled silico-manganese steel bar market increased by 5.4% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a mild reduction. The pace of growth appeared the most rapid in 2017 when the market value increased by 9% against the previous year. Over the period under review, the global market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Hot-Rolled Bars Of Silico-Manganese Steel

In value terms, hot-rolled silico-manganese steel bar production amounted to $X in 2021 estimated in export price. In general, production, however, saw a mild contraction. The pace of growth appeared the most rapid in 2018 when the production volume increased by 12% against the previous year. Global production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Bars Of Silico-Manganese Steel

Exports

In 2021, overseas shipments of hot-rolled bars of silico-manganese steel increased by 4.8% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 36%. Over the period under review, the global exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled silico-manganese steel bar exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a mild downturn. Over the period under review, the global exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia was the key exporting country with an export of about X tons, which accounted for 34% of total exports. It was distantly followed by Italy (X tons), South Korea (X tons), Japan (X tons), Germany (X tons) and France (X tons), together constituting a 46% share of total exports. Egypt (X tons), Sweden (X tons), Kyrgyzstan (X tons) and China (X tons) followed a long way behind the leaders.

Exports from Russia decreased at an average annual rate of -6.6% from 2012 to 2021. At the same time, Kyrgyzstan (+188.5%), Egypt (+52.0%), Japan (+38.2%), South Korea (+13.3%), France (+8.3%) and Germany (+7.5%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in the world, with a CAGR of +188.5% from 2012-2021. Italy experienced a relatively flat trend pattern. By contrast, Sweden (-3.3%) and China (-11.5%) illustrated a downward trend over the same period. Japan (+9.5 p.p.), South Korea (+7.7 p.p.), Germany (+5.6 p.p.), France (+3.7 p.p.), Egypt (+3.3 p.p.), Kyrgyzstan (+3 p.p.) and Italy (+2.4 p.p.) significantly strengthened its position in terms of the global exports, while China and Russia saw its share reduced by -2.6% and -13.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), South Korea ($X) and Italy ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 53% of global exports. These countries were followed by Japan, Germany, France, Egypt, Sweden, China and Kyrgyzstan, which together accounted for a further 38%.

Kyrgyzstan, with a CAGR of +147.6%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average hot-rolled silico-manganese steel bar export price amounted to $X per ton, picking up by 40% against the previous year. Over the period under review, export price indicated a modest increase 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.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the other global leaders experienced mixed trends in the export price figures.

Imports of Hot-Rolled Bars Of Silico-Manganese Steel

Imports

In 2021, overseas purchases of hot-rolled bars of silico-manganese steel were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. Over the period under review, global imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, hot-rolled silico-manganese steel bar imports surged to $X in 2021. Overall, imports, however, saw a perceptible slump. Global imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Kazakhstan was the key importing country with an import of around X tons, which accounted for 27% of total imports. Uzbekistan (X tons) took an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by Spain (7.4%), France (6.6%), the Philippines (6.3%) and Tajikistan (4.6%). China (X tons), Indonesia (X tons), the UK (X tons), Belarus (X tons), Germany (X tons), Thailand (X tons) and Poland (X tons) took a minor share of total imports.

Imports into Kazakhstan decreased at an average annual rate of -6.6% from 2012 to 2021. At the same time, the Philippines (+41.7%), Thailand (+33.4%), China (+17.5%), Spain (+13.1%), Tajikistan (+8.6%), France (+8.2%), Germany (+5.8%) and Belarus (+4.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in the world, with a CAGR of +41.7% from 2012-2021. By contrast, Indonesia (-2.4%), the UK (-4.9%), Poland (-7.9%) and Uzbekistan (-33.0%) illustrated a downward trend over the same period. While the share of Uzbekistan (+8.3 p.p.), the Philippines (+6.1 p.p.), Spain (+5.7 p.p.), France (+4.3 p.p.), China (+3.7 p.p.), Tajikistan (+3.1 p.p.), Thailand (+2.5 p.p.), Germany (+1.6 p.p.) and Belarus (+1.5 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Kazakhstan (-8.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) constitutes the largest market for imported hot-rolled bars of silico-manganese steel worldwide, comprising 21% of global imports. The second position in the ranking was taken by Spain ($X), with a 9.2% share of global imports. It was followed by France, with a 7.4% share.

In Kazakhstan, hot-rolled silico-manganese steel bar imports plunged by an average annual rate of -5.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Spain (+13.8% per year) and France (+5.9% per year).

Import Prices by Country

In 2021, the average hot-rolled silico-manganese steel bar import price amounted to $X per ton, picking up by 31% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained 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 Poland ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tajikistan (+1.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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