Which Country Imports the Most Silicon-Electrical Steel Flat-Rolled Products in the World?

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

Which Country Imports the Most Silicon-Electrical Steel Flat-Rolled Products in the World?

IndexBox has just published a new report "World: Flat-Rolled Products Of Silicon-Electrical Steel - Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

Global silicon-electrical steel flat-rolled product imports stood at 39M tonnes in 2016, picking up by 5% against the previous year figure. Overall, silicon-electrical steel flat-rolled product imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014, when imports increased by 39% against the previous year level. Over the period under review, global silicon-electrical steel flat-rolled product imports attained its maximum volume in 2016, and are expected to retain its growth in the immediate term.

In value terms, silicon-electrical steel flat-rolled product imports totaled $24B in 2016. The total import value increased at an average annual rate of +2.5% from 2007 to 2016- however, the trend pattern indicated some noticeable fluctuations throughout the analyzed period. Over the period under review, global silicon-electrical steel flat-rolled product imports reached its maximum level of $25B in 2014- however, from 2015 to 2016, it failed to regain its strength.

Top Silicon-Electrical Steel Flat-Rolled Product Importing Countries in the World

1. Viet Nam (2.3 billion USD)

2. China (1.7 billion USD)

3. Germany (1.6 billion USD)

4. Mexico (1.5 billion USD)

5. USA (1.4 billion USD)

6. India (1.3 billion USD)

7. Thailand (1.2 billion USD)

8. Turkey (1.2 billion USD)

9. Italy (1.0 billion USD)

10. South Korea (0.8 billion USD)

11. Belgium (0.8 billion USD)

12. Spain (0.8 billion USD)

Silicon-Electrical Steel Flat-Rolled Product Imports By Country

In 2016, Viet Nam (6.2M tonnes), distantly followed by Thailand (2.3M tonnes), Germany (2.1M tonnes), Turkey (1.9M tonnes), China (1.9M tonnes), India (1.9M tonnes), and South Korea (1.8M tonnes) were the main importers of silicon-electrical steel flat-rolled product, together making up 46% of total imports. Mexico (1.6M tonnes), Italy (1.5M tonnes), Belgium (1.2M tonnes), Spain (1.2M tonnes), and the U.S. (1.2M tonnes) followed a long way behind this figure.

Viet Nam was also the fastest growing in terms of the silicon-electrical steel flat-rolled product imports, with a CAGR of +61.6% from 2007 to 2016. At the same time, Thailand (+24.7%), India (+20.5%), Turkey (+17.2%), South Korea (+10.2%), Mexico (+8.3%), Germany (+8.2%), Belgium (+5.0%), and China (+1.2%) displayed positive paces of growth. Spain, and the U.S. experienced a relatively flat trend pattern. By contrast, Italy (-3.4%) illustrated a downward trend over the same period. While the share of Mexico (-2.1%), South Korea (-2.7%), Germany (-2.8%), Turkey (-3.7%), India (-3.9%), Thailand (-5.1%), and Viet Nam (-15.6%) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Viet Nam ($2.3B), China ($1.7B) and Germany ($1.6B) appeared as the countries with the highest levels of imports in 2016, with a combined 23% share of global imports.

Viet Nam (+44.1% per year) had the highest rates of growth with regard to the silicon-electrical steel flat-rolled product imports, in terms of the main importing countries, over the last 9 years, while the other global leaders experienced more modest paces of growth.

Silicon-Electrical Steel Flat-Rolled Product Import Prices By Country

The average silicon-electrical steel flat-rolled product import price stood at $628 per tonne in 2016, waning by -7.4% against the previous year. Overall, silicon-electrical steel flat-rolled product import price continues to indicate a deep deduction. The most prominent rate of growth was recorded in 2008, an increase of 14% from the previous year level. In that year, average silicon-electrical steel flat-rolled product import price attained its maximum level of $1,251 per tonne. From 2009 to 2016, growth of average silicon-electrical steel flat-rolled product import price failed to regain its strength.

Import prices varied noticeably by country of destination. the country with the highest import prices was the U.S. ($1,212 per tonne), while Viet Nam ($371 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of silicon-electrical steel flat-rolled product import prices was attained by South Korea (+5.7% per year), while the other global leaders experienced mixed trends in the import price figures.

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

  • silicon-electrical steel flat-rolled product market share
  • silicon-electrical steel flat-rolled product prices
  • silicon-electrical steel flat-rolled product industry
  • silicon-electrical steel flat-rolled product sales
  • silicon-electrical steel flat-rolled product import
  • silicon-electrical steel flat-rolled product export
  • silicon-electrical steel flat-rolled product market forecast
  • silicon-electrical steel flat-rolled product price forecast
  • key silicon-electrical steel flat-rolled product producers

All data provided in this article covers the following product: HS Code 7225 - Alloy steel flat-rolled products, of a width 600mm or more.

Source: World: Flat-Rolled Products Of Silicon-Electrical Steel - Market Report. Analysis and Forecast to 2025