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

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

The Azerbaijani market for raw steel and steel semi-finished products skyrocketed to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption saw a remarkable increase. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

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

In value terms, production of raw steel and steel semi-finished products fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Production of peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Azerbaijan

In 2022, exports of raw steel and steel semi-finished products from Azerbaijan contracted significantly to X tons, falling by X% on the previous year's figure. In general, exports recorded a deep setback. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of raw steel and steel semi-finished products contracted rapidly to $X in 2022. Over the period under review, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for exports of raw steel and steel semi-finished products from Azerbaijan, accounting for a X% share of total exports. Moreover, exports of raw steel and steel semi-finished products to Turkey exceeded the volume sent to the second major destination, Estonia (X tons), more than tenfold. Latvia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Latvia (X% per year).

In value terms, Turkey ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was held by Estonia ($X), with a X% share of total exports. It was followed by Latvia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Latvia (X% per year).

Export Prices by Country

In 2022, the average export price for raw steel and steel semi-finished products amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price recorded a moderate increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Iran ($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 Latvia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Azerbaijan

In 2022, after three years of decline, there was significant growth in overseas purchases of raw steel and steel semi-finished products, when their volume increased by X% to X tons. In general, imports, however, saw a abrupt setback. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of raw steel and steel semi-finished products soared to $X in 2022. Overall, imports, however, recorded a abrupt contraction. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Iran (X tons) constituted the largest raw steel and steel semi-finished products supplier to Azerbaijan, accounting for a X% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Iran exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Iran totaled X%.

In value terms, Iran ($X) constituted the largest supplier of raw steel and steel semi-finished products to Azerbaijan, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Iran totaled X%.

Import Prices by Country

In 2022, the average import price for raw steel and steel semi-finished products amounted to $X per ton, declining by X% against the previous year. Overall, the import price showed a mild setback. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then fell markedly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Iran stood at $X per ton.

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

Source: IndexBox Platform

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