Which Country Imports the Most Iron Bars and Rods in the World?
Basic Iron And Steel May 28, 2018
Global iron bar imports totaled 39M tonnes in 2016, approximately mirroring the previous year figure. In general, iron bar imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2010, when imports increased by 10% against the previous year level. Global iron bar import peaked in 2016, and are likely to continue its growth in the near future.
In value terms, iron bar imports stood at $9B in 2016. Overall, iron bar imports continue to indicate a drastic contraction. Global iron bar import peaked of $16B in 2008; however, from 2009 to 2016, it stood at a somewhat lower level.
Top Iron Bar Importing Countries in the World
1. USA (811.2 million USD)
2. Netherlands (599.7 million USD)
3. Germany (565.5 million USD)
4. France (319.3 million USD)
5. China (262.1 million USD)
6. Turkey (178.4 million USD)
7. Spain (116.4 million USD)
8. United Kingdom (116.2 million USD)
9. Qatar (88.6 million USD)
10. Japan (48.9 million USD)
11. Ukraine (10.7 million USD)
12. Russia (3.9 million USD)
Iron Bar Imports By Country
In 2016, China (5.9M tonnes), distantly followed by Germany (2.8M tonnes), Ukraine (1.9M tonnes), and Qatar (1.8M tonnes) were the key importers of iron bar, together generating 32% of total imports. The Netherlands (1.5M tonnes), the U.S. (1.5M tonnes), Turkey (1.3M tonnes), Spain (1.2M tonnes), Japan (1.1M tonnes), France (1.1M tonnes), Russia (979K tonnes), and the UK (909K tonnes) followed a long way behind this figure.
China experienced a relatively flat trend pattern. At the same time, Qatar (+8.6%), the Netherlands (+2.8%), France (+1.8%), and Turkey (+1.3%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest growing importer/exporter in the world, with a CAGR of +8.6% from 2007-2016. Ukraine, Spain, the U.S., Germany, Russia, and the UK experienced a relatively flat trend pattern. By contrast, Japan (-1.6%) illustrated a downward trend over the same period. From 2007 to 2016, the share of Qatar decreased by -2.4% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest iron bar markets worldwide were the U.S. ($811M), the Netherlands ($600M) and Germany ($566M), with a combined 22% share of global imports.France, China, Turkey, Spain, the UK, Qatar, Japan, Ukraine and Russia lagged somewhat behind, together comprising a further 13%.
Qatar (+44.3% per year) recorded the highest growth rate of iron bar imports, in terms of the main importing countries, over the last 9 years, while the other global leaders experienced mixed trends in the imports figures.
Iron Bar Import Prices By Country
In 2016, the average import price for iron bar amounted to $230 per tonne, waning by -10.2% against the previous year. In general, iron bar import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2010, when import price increased by 23% y-o-y. Global iron bar import peaked of $431 per tonne in 2008; however, from 2009 to 2016, it failed to regain its strength.
Import prices varied noticeably by country of destination. the country with the highest import prices was the U.S. ($556 per tonne), while Russia ($4 per tonne) was among the lowest.
From 2007 to 2016, the most notable growth rate of iron bar import prices was attained by Qatar (+32.1% per year), while the other global leaders experienced mixed trends in the import price figures.
Do you want to know more about global iron bar market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- iron bar market share
- iron bar prices
- iron bar industry
- iron bar sales
- iron bar import
- iron bar export
- iron bar market forecast
- iron bar price forecast
- key iron bar producers
All data provided in this article covers the following product: HS Code 7213 - Iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils.
Source: World: Bars And Rods Of Iron Or Steel (Hot-Rolled) - Market Report. Analysis and Forecast to 2025
