Australia: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Australia

The Australian hot-rolled steel products market declined to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption continues to indicate a pronounced slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Hot-Rolled Steel Products Production in Australia

In value terms, hot-rolled steel products production shrank modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X%. Hot-rolled steel products production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports from Australia

In 2022, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) were finally on the rise to reach X tons after two years of decline. Overall, exports, however, saw a deep setback. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel products exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt contraction. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Italy (X tons) and Vietnam (X tons) were the main destinations of hot-rolled steel products exports from Australia, together comprising X% of total exports. The United Arab Emirates, Turkey, New Zealand, Ukraine and Thailand lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for hot-rolled steel products exported from Australia were the United States ($X), Italy ($X) and Vietnam ($X), with a combined X% share of total exports. The United Arab Emirates, New Zealand, Turkey, Ukraine and Thailand lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average hot-rolled steel products export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2022: its price 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, hot-rolled steel products export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Australia

In 2022, supplies from abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, hot-rolled steel products imports soared to $X in 2022. Overall, imports, however, saw a slight descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and South Korea (X tons) were the main suppliers of hot-rolled steel products imports to Australia, together comprising X% of total imports. Finland, New Zealand, Japan, Sweden and the United States lagged somewhat behind, together accounting for a further X%.

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

In value terms, Taiwan (Chinese) ($X), China ($X) and South Korea ($X) were the largest hot-rolled steel products suppliers to Australia, with a combined X% share of total imports. Finland, Sweden, New Zealand, Japan and the United States lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Finland, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average hot-rolled steel products import price amounted to $X per ton, surging by X% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price 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, hot-rolled steel products import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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