Which Country Exports the Most Crude Steel and Steel Semi-Finished Products in the World?

Basic Iron And Steel May 28, 2018
Author: Sergey Avramenko
Head of Global Markets Research Team

In 2016, the global exports of steel stood at 1.3M tonnes, jumping by 19% against the previous year figure. In general, steel exports continue to indicate a deep drop. The pace of growth was the most pronounced in 2016, when export increased by 19% against the previous year level. Global steel export peaked of 1.8M tonnes in 2008; however, from 2009 to 2016, it stood at a somewhat lower level.

In value terms, steel exports stood at $772M in 2016. Overall, steel exports continue to indicate a abrupt shrinkage. Over the period under review, global steel exports attained its maximum level of $1.9B in 2008; however, from 2009 to 2016, it failed to regain its strength.

Top Steel Exporting Countries in the World

1. Iran (114.5 million USD)

2. Russia (42.6 million USD)

3. Qatar (42.2 million USD)

4. USA (41.5 million USD)

5. Kuwait (32.4 million USD)

6. Ukraine (25.7 million USD)

7. Greece (19.7 million USD)

8. Sweden (16.1 million USD)

9. Italy (15.4 million USD)

10. Norway (11.5 million USD)

11. Bahrain (6.3 million USD)

12. Zimbabwe (1.0 million USD)

Steel Exports By Country

Iran (330K tonnes) was the key exporter of steel in the world, finishing at 330K tonnes, which was near 26% of total exports in 2016. Russia (116K tonnes) took a 9% share (based on tonnes) of global steel exports, which put it in second place, following Qatar (8%), Kuwait (8%), the U.S. (6%), Ukraine (6%), Sweden (5%), and Greece (5%). The following exporters - Norway (31K tonnes), Zimbabwe (31K tonnes), Bahrain (22K tonnes), and Italy (20K tonnes) held approx. 8% of total exports, each.

From 2007 to 2016, average annual rates of growth with regard to steel exports from Iran stood at +2.2%. At the same time, Ukraine (+43.9%), Norway (+33.1%), Qatar (+19.9%), Kuwait (+18.2%), the U.S. (+2.9%), and Italy (+1.5%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest growing importer/exporter in the world, with a CAGR of +43.9% from 2007-2016. Sweden experienced a relatively flat trend pattern. By contrast, Russia (-2.2%), Greece (-5.5%), Zimbabwe (-7.9%), and Bahrain (-29.3%) illustrated a downward trend over the same period. Bahrain (38%), Greece (3%), Zimbabwe (3%), and Russia (2%) significantly strengthened its position in terms of the global exports, while Norway, Iran, Kuwait, Ukraine, and Qatar saw its share reduced by -2.3%, -4.6%, -6.1%, -6.1%, and -6.8% from 2007 to 2016, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($115M) remains the largest steel supplier in the world, making up 15% of global exports. The second position in the ranking was occupied by Russia ($43M), with the share of 6% of global exports. It was followed by Qatar, with the share of 5%.

In Iran, steel exports stood at an average annual rate of +2.1% over the period from 2007-2016. In the other countries, the average annual rates were as follows: Russia (-14.9% per year) and Qatar (+16.1% per year).

Steel Export Prices By Country

In 2016, the average export price for steel amounted to $614 per tonne, waning by -17.1% against the previous year. In general, steel export price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2014, when export increased by 9% year-to-year. Over the period under review, average steel export price attained its maximum level of $1,036 per tonne in 2010; however, from 2011 to 2016, it failed to regain its strength.

Export prices varied noticeably by country of destination. the country with the highest export prices was Italy ($784 per tonne), while Zimbabwe ($31 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of steel export prices was attained by Norway (+8.0% per year), while the other global leaders experienced mixed trends in the export price figures.

Do you want to know more about global steel market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • steel market share
  • steel prices
  • steel industry
  • steel sales
  • steel import
  • steel export
  • steel market forecast
  • steel price forecast
  • key steel producers

All data provided in this article covers the following product: HS Code 7206 - Iron and non-alloy steel in ingots or other primary forms (excluding iron of heading no. 7203).

Source: World: Crude Steel And Steel Semi-Finished Products - Market Report. Analysis and Forecast to 2025