Bahrain: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Bahrain

In 2022, the Bahraini market for hot-rolled steel bars and rods was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption, however, recorded a abrupt slump. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Bahrain

In 2023, hot-rolled steel bar and rod exports from Bahrain reduced to X tons, which is down by X% on 2022. Over the period under review, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, hot-rolled steel bar and rod exports reduced modestly to $X in 2023. In general, exports continue to indicate a slight contraction. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) was the main destination for hot-rolled steel bar and rod exports from Bahrain, accounting for a X% share of total exports. Moreover, hot-rolled steel bar and rod exports to Saudi Arabia exceeded the volume sent to the second major destination, India (X tons), more than tenfold. The third position in this ranking was held by Oman (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Oman (X% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Bahrain, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports. It was followed by Kuwait, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2023, the average export price for hot-rolled steel bars and rods amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2023, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Bahrain

In 2023, approx. X tons of hot-rolled steel bars and rods were imported into Bahrain; with a decrease of X% against the previous year's figure. In general, imports recorded a pronounced curtailment. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, hot-rolled steel bar and rod imports reached $X in 2023. Over the period under review, imports saw a perceptible downturn. The growth pace was the most rapid in 2015 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2023, imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Oman (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Bahrain, together accounting for X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and India ($X) were the largest hot-rolled steel bar and rod suppliers to Bahrain, with a combined X% share of total imports.

Among the main suppliers, Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the import price, however, saw a mild slump. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform