Flat Cold-Rolled Steel Coils Market

The article discusses the upward consumption trend expected in the global market for flat cold-rolled steel coils over the next eight years, with projections for volume and value by 2030. It highlights the performance of major countries like China, the United States, and India in terms of consumption, production, exports, and imports. The data shows steady growth in production, moderate growth in exports, and import price fluctuations. Finland emerges as a major exporter in the industry.

Market Forecast

Driven by rising demand for flat cold-rolled steel coils worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market volume to 112M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market value to $97.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Flat Cold-Rolled Steel in Coils

In 2022, approx. 100M tons of flat cold-rolled steel in coils were consumed worldwide; declining by -1.8% compared with the year before. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak volume of 112M tons. From 2015 to 2022, the growth of the global consumption remained at a lower figure.

The global flat cold-rolled steel coils market revenue contracted to $75.7B in 2022, which is down by -5.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. Global consumption peaked at $84.6B in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Consumption By Country

China (30M tons) constituted the country with the largest volume of flat cold-rolled steel coils consumption, comprising approx. 30% of total volume. Moreover, flat cold-rolled steel coils consumption in China exceeded the figures recorded by the second-largest consumer, the United States (15M tons), twofold. The third position in this ranking was held by India (11M tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +2.9%. In the other countries, the average annual rates were as follows: the United States (-4.3% per year) and India (+2.8% per year).

In value terms, the largest flat cold-rolled steel coils markets worldwide were China ($18.1B), the United States ($14.7B) and India ($8.1B), with a combined 54% share of the global market. Russia, Brazil, Japan, Mexico, Italy, Turkey, the UK, Vietnam and South Korea lagged somewhat behind, together accounting for a further 27%.

Turkey, with a CAGR of +17.3%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of flat cold-rolled steel coils per capita consumption in 2022 were the United States (44 kg per person), Russia (36 kg per person) and South Korea (36 kg per person).

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +14.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Flat Cold-Rolled Steel in Coils

In 2022, production of flat cold-rolled steel in coils increased by 5.1% to 105M tons, rising for the second consecutive year after two years of decline. Over the period under review, production showed a relatively flat trend pattern. Global production peaked at 112M tons in 2014; however, from 2015 to 2022, production failed to regain momentum.

In value terms, flat cold-rolled steel coils production shrank to $73.3B in 2022 estimated in export price. Overall, production, however, saw a slight shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 21%. Over the period under review, global production reached the peak level at $84.6B in 2014; however, from 2015 to 2022, production remained at a lower figure.

Production By Country

China (31M tons) remains the largest flat cold-rolled steel coils producing country worldwide, accounting for 30% of total volume. Moreover, flat cold-rolled steel coils production in China exceeded the figures recorded by the second-largest producer, the United States (14M tons), twofold. The third position in this ranking was held by India (11M tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +3.5%. The remaining producing countries recorded the following average annual rates of production growth: the United States (-4.9% per year) and India (+3.7% per year).

Imports

World Imports of Flat Cold-Rolled Steel in Coils

In 2022, approx. 19M tons of flat cold-rolled steel in coils were imported worldwide; dropping by -13.7% on the previous year. In general, imports recorded a mild curtailment. The pace of growth was the most pronounced in 2021 with an increase of 14% against the previous year. Global imports peaked at 25M tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, flat cold-rolled steel coils imports declined to $19.3B in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 64%. As a result, imports attained the peak of $19.4B, leveling off in the following year.

Imports By Country

The purchases of the twelve major importers of flat cold-rolled steel in coils, namely the United States, Belgium, China, Thailand, Italy, Mexico, Germany, Japan, Poland, Turkey, Malaysia and France, represented more than half of total import. Indonesia (551K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +4.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest flat cold-rolled steel coils importing markets worldwide were the United States ($1.9B), Belgium ($1.2B) and China ($1.1B), together comprising 22% of global imports.

The United States, with a CAGR of +8.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (8.7M tons) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (7.2M tons) represented the main types of flat cold-rolled steel in coilsaround the world, together achieving 83% of total imports. It was distantly followed by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (2.9M tons), committing a 15% share of total imports. Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (407K tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading imported products, was attained by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (with a CAGR of -0.5%), while imports for the other products experienced a decline in the imports figures.

In value terms, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($8.6B), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($7.3B) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($3B) were the products with the highest levels of imports in 2022, together comprising 98% of global imports.

Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, with a CAGR of +1.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main imported products over the period under review, while purchases for the other products experienced mixed trends in the imports figures.

Import Prices By Type

The average flat cold-rolled steel coils import price stood at $1,005 per ton in 2022, increasing by 15% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, flat cold-rolled steel coils import price increased by +65.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 43%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major imported products. In 2022, major imported products recorded the following prices: in iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($1,032 per ton) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more ($1,019 per ton), while the price for iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($994 per ton) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($1,008 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (+2.5%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average flat cold-rolled steel coils import price amounted to $1,005 per ton, surging by 15% against the previous year. In general, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, flat cold-rolled steel coils import price increased by +65.3% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 43% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($1,334 per ton), while Malaysia ($830 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Flat Cold-Rolled Steel in Coils

In 2022, overseas shipments of flat cold-rolled steel in coils increased by 19% to 24M tons, rising for the second consecutive year after three years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The global exports peaked at 25M tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, flat cold-rolled steel coils exports surged to $21.9B in 2022. In general, total exports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +105.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 58% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports By Country

In 2022, Finland (5.6M tons), distantly followed by South Korea (3.5M tons), China (2.9M tons), Japan (1.6M tons), Belgium (1.4M tons) and Taiwan (Chinese) (1.3M tons) represented the major exporters of flat cold-rolled steel in coils, together comprising 68% of total exports. Germany (782K tons), Russia (628K tons), Australia (564K tons), Canada (484K tons), Turkey (483K tons), Kazakhstan (443K tons) and the United States (428K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +64.2%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest flat cold-rolled steel coils supplying countries worldwide were Finland ($4.3B), South Korea ($3.1B) and China ($2.6B), with a combined 45% share of global exports.

Finland, with a CAGR of +67.1%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm was the largest exported product with an export of about 13M tons, which accounted for 52% of total exports. Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (8.3M tons) ranks second in terms of the total exports with a 34% share, followed by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (11%). Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (560K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (with a CAGR of +4.7%), while shipments for the other products experienced mixed trends in the exports figures.

In value terms, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($11.1B), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($7.9B) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($2.4B) appeared to be the products with the highest levels of exports in 2022, together accounting for 98% of global exports.

Among the main exported products, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, with a CAGR of +6.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

Export Prices By Type

In 2022, the average flat cold-rolled steel coils export price amounted to $912 per ton, growing by 8.9% against the previous year. Over the period under review, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, flat cold-rolled steel coils export price increased by +49.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 38% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major exported products. In 2022, major exported products recorded the following prices: in iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($959 per ton) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($907 per ton), while the average price for exports of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more ($828 per ton) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($885 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (+2.1%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average flat cold-rolled steel coils export price amounted to $912 per ton, surging by 8.9% against the previous year. In general, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, flat cold-rolled steel coils export price increased by +49.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 38%. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($1,487 per ton), while Kazakhstan ($523 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+10.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform