The Global Bars and Rods of Iron or Steel Trade Dominated by China, with $15,335M in 2014

Basic Iron And Steel July 23, 2015
Author: Alexander Romanenko
Chief Executive Officer

China dominates in the global bars and rods of iron or steel trade. In 2014, China exported 30,073 thousand tonnes of bars and rods of iron or steel totaling 15,335 million USD, 59% over the previous year. Its primary trading partner was the Republic of Korea, where it supplied 11% of its total bars and rods of iron or steel exports in value terms.

From 2007 to 2014, China was a net exporter of bars and rods of iron or steel. Over the period under review, exports consistently exceeded imports in value terms. In physical terms, the difference was more pronounced due to high imports prices.

Turkey and Germany were among the other main global suppliers of bars and rods of iron or steel in 2014. However, the fastest growing exporter from 2007 to 2014 was Japan (+21% per year), followed by Turkey (+8% per year).

In 2014, China's top 5 trading partners were the Republic of Korea, the Philippines, Indonesia, Thailand and Singapore, with a combined 38% share of China's exports. The share of the Philippines increased modestly (+5 percentage points), while the share of the Republic of Korea fell sharply (-9 percentage points).

Source: World: Bars And Rods Of Iron Or Steel (Hot-Rolled) - Market Report. Analysis and Forecast to 2020