Asia: Flat-Rolled Steel Coils Market 2024

Flat-Rolled Steel Coils Market Size in Asia

The Asian flat-rolled steel coils market declined to $X in 2023, waning by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Flat-Rolled Steel Coils Production in Asia

In value terms, flat-rolled steel coils production totaled $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Flat-Rolled Steel Coils Exports

Exports in Asia

Flat-rolled steel coils exports skyrocketed to X tons in 2023, with an increase of X% against the previous year. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, flat-rolled steel coils exports rose slightly to $X in 2023. Total exports indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, China (X tons), distantly followed by Japan (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and India (X tons) were the key exporters of flat-rolled steel in coils, together mixing up X% of total exports. The following exporters - Turkey (X tons) and Vietnam (X tons) - together made up X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel coils supplying countries in Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for X% of total exports. Taiwan (Chinese), India, Vietnam and Turkey lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then contracted sharply in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and South Korea ($X per ton), while China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Flat-Rolled Steel Coils Imports

Imports in Asia

After three years of decline, overseas purchases of flat-rolled steel in coils increased by X% to X tons in 2023. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, flat-rolled steel coils imports declined to $X in 2023. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Turkey (X tons), Vietnam (X tons), Thailand (X tons), South Korea (X tons), India (X tons), Malaysia (X tons), Japan (X tons), Indonesia (X tons), China (X tons), the United Arab Emirates (X tons), Pakistan (X tons) and Bangladesh (X tons) represented the key importer of flat-rolled steel in coils in Asia, mixing up X% of total import.

From 2012 to 2023, the biggest increases were recorded for Bangladesh (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel coils importing markets in Asia were Vietnam ($X), Turkey ($X) and Thailand ($X), with a combined X% share of total imports. South Korea, India, Indonesia, Malaysia, Japan, China, the United Arab Emirates, Bangladesh and Pakistan lagged somewhat behind, together accounting for a further X%.

Bangladesh, with a CAGR of X%, recorded 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 leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2022, and then fell in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Indonesia ($X per ton) and Vietnam ($X per ton), while India ($X per ton) and Pakistan ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform