Which Country Exports the Most Hot-Rolled Steel Products in the World?

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

Which Country Exports the Most Hot-Rolled Steel Products in the World?

IndexBox has just published a new report "World: Flat-Rolled Products Of Iron Or Steel (Not Further Worked Than Hot-Rolled) - Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

In 2016, approx. 142M tonnes of hot-rolled steel were imported worldwide- moving up by 2% against the previous year level. Overall, hot-rolled steel imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010, when import increased by 12% y-o-y. Over the period under review, global hot-rolled steel imports attained its maximum volume of 147M tonnes in 2007- however, from 2008 to 2016, it failed to regain its strength.

In value terms, hot-rolled steel imports totaled $40B in 2016. Overall, hot-rolled steel imports continue to indicate a abrupt contraction. In that year, global hot-rolled steel imports attained its maximum level of $89B. From 2009 to 2016, growth of global hot-rolled steel imports failed to regain its strength.

Top Hot-Rolled Steel Importing Countries in the World

1. South Korea (2.8 billion USD)

2. Italy (2.5 billion USD)

3. USA (2.3 billion USD)

4. Germany (2.2 billion USD)

5. Viet Nam (1.8 billion USD)

6. Belgium (1.7 billion USD)

7. Turkey (1.6 billion USD)

8. France (1.2 billion USD)

9. Japan (0.9 billion USD)

10. Netherlands (0.7 billion USD)

11. Russia (0.3 billion USD)

12. Ukraine (0.1 billion USD)

Hot-Rolled Steel Imports By Country

In 2016, Japan (16M tonnes), followed by South Korea (10M tonnes), Russia (7M tonnes), Belgium (7M tonnes), Ukraine (6.5M tonnes), and France (6.4M tonnes) represented the main importers of hot-rolled steel, together making up 38% of total imports. Italy (6.3M tonnes), Viet Nam (5M tonnes), the U.S. (4.5M tonnes), Germany (4.4M tonnes), Turkey (4.1M tonnes), and the Netherlands (3.5M tonnes) held the minor share of total imports.

From 2007 to 2016, the most notable growth rate of hot-rolled steel imports, among the main importing countries, was attained by Viet Nam (+6.1% per year), while the other global leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel markets worldwide were South Korea ($2.8B), Italy ($2.5B) and the U.S. ($2.3B), together comprising 19% of global imports.Germany, Viet Nam, Belgium, Turkey, France, Japan, the Netherlands, Russia and Ukraine lagged somewhat behind, together comprising a further 26%.

Viet Nam (+0.4% per year) recorded the highest growth rate of hot-rolled steel imports, in terms of the main importing countries, over the last 9 year period, while the other global leaders experienced a decline in the imports figures.

Hot-Rolled Steel Import Prices By Country

The average hot-rolled steel import price stood at $279 per tonne in 2016, coming down by -13.6% against the previous year. Overall, hot-rolled steel import price continues to indicate a abrupt reduction. The most prominent rate of growth was recorded in 2008, an increase of 31% against the previous year level. In that year, average hot-rolled steel import price reached its maximum level of $613 per tonne. From 2009 to 2016, growth of average hot-rolled steel import price failed to regain its strength.

There were significant differences in the average import prices amongst major importing countries. In 2016, the country with the highest import prices was the U.S. ($517 per tonne), while Ukraine ($8 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of hot-rolled steel import prices was attained by Japan (-1.1% per year), while the other global leaders experienced a decline in the import price figures.

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

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

All data provided in this article covers the following product: HS Code 7208 - Iron or non-alloy steel- flat-rolled products of a width of 600mm or more, hot-rolled, not clad, plated or coated.

Source: World: Flat-Rolled Products Of Iron Or Steel (Not Further Worked Than Hot-Rolled) - Market Report. Analysis and Forecast to 2025