Report Update: Apr 1, 2024

Singapore - Hot-Rolled Bars In Free-Cutting Steels - Market Analysis, Forecast, Size, Trends And Insights

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Hot-Rolled Free-Cutting Steel Price in Singapore - 2022

Hot-Rolled Free-Cutting Steel Price in Singapore (CIF) - 2022

The average hot-rolled free-cutting steel import price stood at $702 per ton in 2022, which is down by -14% against the previous year. Overall, the import price, however, continues to indicate mild growth. The pace of growth was the most pronounced in 2021 when the average import price increased by 61% against the previous year. As a result, import price attained the peak level of $816 per ton, and then contracted in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($992 per ton), while the price for Malaysia ($679 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+22.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Hot-Rolled Free-Cutting Steel Price in Singapore (FOB) - 2022

The average hot-rolled free-cutting steel export price stood at $9,242 per ton in September 2022, rising by 206% against the previous month. Over the period under review, the export price saw a measured expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In September 2022, the country with the highest price was Australia ($10,387 per ton), while the average price for exports to Brunei Darussalam ($1,372 per ton) was amongst the lowest.

From September 2021 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Free-Cutting Steel Imports in Singapore

In 2022, purchases abroad of hot-rolled bars in free-cutting steels was finally on the rise to reach 6.1K tons after two years of decline. Over the period under review, imports, however, saw a abrupt descent.

In value terms, hot-rolled free-cutting steel imports skyrocketed to $4.3M in 2022. In general, imports, however, faced a abrupt decrease.

Import of Hot-Rolled Free-Cutting Steel in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	1.5	0.3	1.2	3.9	37.5%
China	0.2	N/A	N/A	0.2	0.0%
Turkey	0.2	N/A	0.7	0.1	-20.6%
United Arab Emirates	4.3	2.6	N/A	N/A	-39.5%
Others	N/A	N/A	N/A	0.1	0%
Total	6.2	3.0	1.9	4.3	-11.5%

Top Suppliers of Hot-Rolled Free-Cutting Steel to Singapore in 2022:

Malaysia (5.7K tons)
China (0.2K tons)
Turkey (0.1K tons)

Hot-Rolled Free-Cutting Steel Exports in Singapore

Hot-rolled free-cutting steel exports from Singapore rose markedly to 402 tons in 2022, surging by 13% on the previous year. Overall, exports, however, showed a significant decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 23% against the previous year.

In value terms, hot-rolled free-cutting steel exports surged to $822K in 2022. Over the period under review, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 105% against the previous year.

Export of Hot-Rolled Free-Cutting Steel in Singapore (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Australia	2.2	0.9	1.0	364	449.0%
South Korea	78.0	N/A	225	230	43.4%
Malaysia	1,070	125	104	66.8	-60.3%
China	56.2	5.9	31.1	58.9	1.6%
Hong Kong SAR	51.7	26.9	242	30.2	-16.4%
Taiwan (Chinese)	21.6	4.0	10.3	27.1	7.9%
Indonesia	40.6	63.2	19.3	20.8	-20.0%
Papua New Guinea	51.1	N/A	N/A	N/A	0%
India	81.6	93.3	15.9	N/A	-55.9%
Others	52.9	20.4	46.7	24.1	-23.1%
Total	1,506	340	696	822	-18.3%

Top Export Markets for Hot-Rolled Free-Cutting Steel from Singapore in 2022:

India (undefined tons)
Australia (150.2 tons)
South Korea (114.5 tons)
Malaysia (44.5 tons)
China (34.4 tons)
Indonesia (22.7 tons)
Hong Kong SAR (13.5 tons)
Taiwan (Chinese) (11.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the hot-rolled free-cutting steel market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24106230 - Hot-rolled bars in free-cutting steels

Country coverage:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023