ASEAN: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in ASEAN

The ASEAN market for raw steel and steel semi-finished products was finally on the rise to reach $X in 2022, after two years of decline. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Raw Steel And Steel Semi-Finished Products in ASEAN

In value terms, production of raw steel and steel semi-finished products amounted to $X in 2022 estimated in export price. Over the period under review, production recorded notable growth. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports in ASEAN

In 2022, shipments abroad of raw steel and steel semi-finished products decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. In general, exports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports of hit record highs at X tons in 2021, and then fell dramatically in the following year.

In value terms, exports of raw steel and steel semi-finished products declined notably to $X in 2022. Over the period under review, exports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2017 when exports increased by X%. The level of export peaked at $X in 2021, and then fell notably in the following year.

Exports by Country

Indonesia represented the major exporting country with an export of around X tons, which resulted at X% of total exports. Vietnam (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (X%) and Thailand (X%).

Indonesia was also the fastest-growing in terms of the raw steel and steel semi-finished products exports, with a CAGR of X% from 2012 to 2022. At the same time, Vietnam (X%) and Malaysia (X%) displayed positive paces of growth. By contrast, Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia increased by X percentage points.

In value terms, Indonesia ($X) remains the largest raw steel and steel semi-finished products supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the export price figures.

Imports of Raw Steel And Steel Semi-Finished Products

Imports in ASEAN

In 2022, purchases abroad of raw steel and steel semi-finished products decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, imports of raw steel and steel semi-finished products dropped to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then shrank modestly in the following year.

Imports by Country

The countries with the highest levels of imports of raw steel and steel semi-finished products in 2022 were Indonesia (X tons), the Philippines (X tons) and Thailand (X tons), together recording X% of total import.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Indonesia ($X), Thailand ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

The Philippines, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined modestly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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