Asia-Pacific: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in Asia-Pacific

The Asia-Pacific hot-rolled free-cutting steel market shrank modestly to $X in 2022, with a decrease of X% against the previous year. In general, consumption showed a slight downturn. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Hot-Rolled Free-Cutting Steel Production in Asia-Pacific

In value terms, hot-rolled free-cutting steel production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Hot-Rolled Free-Cutting Steel Exports

Exports in Asia-Pacific

In 2022, shipments abroad of hot-rolled bars in free-cutting steels increased by X% to X tons for the first time since 2014, thus ending a seven-year declining trend. Overall, exports, however, continue to indicate a abrupt descent. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled free-cutting steel exports surged to $X in 2022. In general, exports, however, recorded a abrupt shrinkage. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) was the major exporting country with an export of about X tons, which recorded X% of total exports. Thailand (X tons) took the second position in the ranking, distantly followed by Malaysia (X tons), Japan (X tons) and China (X tons). All these countries together took approx. X% share of total exports. India (X tons) held a little share of total exports.

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

In value terms, the largest hot-rolled free-cutting steel supplying countries in Asia-Pacific were Taiwan (Chinese) ($X), Thailand ($X) and Japan ($X), with a combined X% share of total exports. China, Malaysia and India lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 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 China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Hot-Rolled Free-Cutting Steel Imports

Imports in Asia-Pacific

After four years of decline, overseas purchases of hot-rolled bars in free-cutting steels increased by X% to X tons in 2022. In general, imports, however, saw a precipitous slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, hot-rolled free-cutting steel imports expanded remarkably to $X in 2022. Overall, imports, however, saw a abrupt contraction. The growth pace was the most rapid in 2017 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Singapore (X tons) and Taiwan (Chinese) (X tons) represented the main importers of hot-rolled bars in free-cutting steels in Asia-Pacific, together accounting for approx. X% of total imports. Hong Kong SAR (X tons) ranks next in terms of the total imports with an X% share, followed by Lao People's Democratic Republic (X%). The following importers - Malaysia (X tons), Nepal (X tons), China (X tons), Australia (X tons), Thailand (X tons), the Philippines (X tons), Papua New Guinea (X tons), Indonesia (X tons) and Pakistan (X tons) - together made up X% of total imports.

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

In value terms, Singapore ($X), Taiwan (Chinese) ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. China, Australia, Lao People's Democratic Republic, Malaysia, Nepal, Thailand, Indonesia, Pakistan, the Philippines and Papua New Guinea lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Pakistan, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, falling by X% against the previous year. Overall, the import price, however, recorded a moderate expansion. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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