Asia-Pacific: Market for Flat Hot-Rolled Steel in Coils 2024

Market Size for Flat Hot-Rolled Steel in Coils in Asia-Pacific

The Asia-Pacific flat hot-rolled steel coils market declined slightly to $X in 2023, with a decrease of X% against the previous year. Over the period under review, consumption, however, recorded 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.

Production of Flat Hot-Rolled Steel in Coils in Asia-Pacific

In value terms, flat hot-rolled steel coils production totaled $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Flat Hot-Rolled Steel in Coils

Exports in Asia-Pacific

In 2023, flat hot-rolled steel coils exports in Asia-Pacific soared to X tons, rising by X% on 2022. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, flat hot-rolled steel coils exports expanded significantly to $X in 2023. Total exports indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2023 and are expected to retain growth in the near future.

Exports by Country

China (X tons) and Japan (X tons) represented the key exporters of flat hot-rolled steel in coils in 2023, finishing at near X% and X% of total exports, respectively. It was distantly followed by South Korea (X tons), India (X tons) and Taiwan (Chinese) (X tons), together mixing up a X% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

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

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Taiwan (Chinese), India and Vietnam lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2023, the export price in Asia-Pacific amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Vietnam ($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 Vietnam (X%), while the other leaders experienced more modest paces of growth.

Imports of Flat Hot-Rolled Steel in Coils

Imports in Asia-Pacific

In 2023, after two years of decline, there was growth in purchases abroad of flat hot-rolled steel in coils, when their volume increased by X% to X tons. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2023, imports remained at a lower figure.

In value terms, flat hot-rolled steel coils imports dropped to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, Vietnam (X tons), Thailand (X tons), South Korea (X tons) and India (X tons) was the largest importer of flat hot-rolled steel in coils in Asia-Pacific, making up X% of total import. Malaysia (X tons) ranks next in terms of the total imports with a X% share, followed by Japan (X%), Indonesia (X%), Pakistan (X%), Bangladesh (X%) and China (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Pakistan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

Pakistan, with a CAGR of X%, recorded the highest growth rate of 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-Pacific stood at $X per ton in 2023, shrinking by X% against the previous year. Import price indicated slight growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then contracted in the following year.

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