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

Basic Iron And Steel May 28, 2018
Author: Anna Sergeeva
Market Analyst

In 2016, approx. 3.7M tonnes of steel were imported worldwide; moving up by 3% against the previous year level. In general, steel imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015, when import increased by 9% year-to-year. Over the period under review, global steel imports attained its maximum volume of 4M tonnes in 2008; however, from 2009 to 2016, it stood at a somewhat lower level.

In value terms, steel imports amounted to $714M in 2016. Overall, steel imports continue to indicate a deep curtailment. In that year, global steel imports reached its maximum level of $1.3B. From 2009 to 2016, growth of global steel imports stood at a somewhat lower level.

Top Steel Importing Countries in the World

1. Jordan (168.8 million USD)

2. United Arab Emirates (60.7 million USD)

3. Saudi Arabia (41.6 million USD)

4. Guatemala (38.8 million USD)

5. Denmark (32.2 million USD)

6. Sweden (2.9 million USD)

7. Greece (2.4 million USD)

8. Bahrain (1.1 million USD)

9. Qatar (1.0 million USD)

10. Iran (0.2 million USD)

11. Kuwait (0.2 million USD)

12. Russia (0.0 million USD)

Steel Imports By Country

In 2016, Bahrain (664K tonnes), Jordan (473K tonnes), Russia (346K tonnes), and Iran (330K tonnes) represented the major importers of steel in the world, constituting 49% of total import. The following importers - United Arab Emirates (149K tonnes), Sweden (125K tonnes), Kuwait (124K tonnes), Saudi Arabia (122K tonnes), Guatemala (117K tonnes), Qatar (106K tonnes), Greece (93K tonnes), and Denmark (90K tonnes) together made up 25% of total imports.

From 2007 to 2016, the most notable growth rate of steel imports, among the main importing countries, was attained by United Arab Emirates (+74.0% per year), while the other global leaders experienced more modest paces of growth.

In value terms, Jordan ($169M) constitutes the largest market for imported steel worldwide, making up 24% of global imports. The second position in the ranking was occupied by United Arab Emirates ($61M), with the share of 9% of global imports. It was followed by Saudi Arabia, with the share of 6%.

In Jordan, steel imports decreased by an average annual rate of -3.7% over the period from 2007-2016. In the other countries, the average annual rates were as follows: United Arab Emirates (+56.1% per year) and Saudi Arabia (-17.3% per year).

Steel Import Prices By Country

The average steel import price stood at $193 per tonne in 2016, coming down by -9.0% against the previous year. Overall, steel import price continues to indicate a drastic deduction. The most prominent rate of growth was recorded in 2008, an increase of 15% y-o-y. In that year, average steel import price reached its maximum level of $337 per tonne. From 2009 to 2016, growth of average 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 United Arab Emirates ($407 per tonne), while Russia ($0 per kg) was among the lowest.

From 2007 to 2016, the most notable growth rate of steel import prices was attained by Qatar (+19.6% per year), while the other global leaders experienced more modest paces of growth.

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