China: Market for Flat Hot-Rolled Steel in Coils 2024

Market Size for Flat Hot-Rolled Steel in Coils in China

The Chinese flat hot-rolled steel coils market declined to $X in 2023, which is down by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Production of Flat Hot-Rolled Steel in Coils in China

In value terms, flat hot-rolled steel coils production amounted to $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 pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Exports of Flat Hot-Rolled Steel in Coils

Exports from China

In 2023, overseas shipments of flat hot-rolled steel in coils increased by X% to X tons, rising for the third year in a row after three years of decline. Overall, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked in 2023 and are likely to see gradual growth in the immediate term.

In value terms, flat hot-rolled steel coils exports surged to $X in 2023. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Vietnam (X tons) was the main destination for flat hot-rolled steel coils exports from China, accounting for a X% share of total exports. Moreover, flat hot-rolled steel coils exports to Vietnam exceeded the volume sent to the second major destination, Turkey (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with an X% share.

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

In value terms, Vietnam ($X) remains the key foreign market for flat hot-rolled steel in coils exports from China, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by South Korea, with an X% share.

From 2012 to 2023, the average annual growth rate of value to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the average flat hot-rolled steel coils export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2022, and then shrank remarkably in the following year.

Average prices varied noticeably for the major external markets. In 2023, amid the top suppliers, the countries with the highest prices were Indonesia ($X per ton) and Kenya ($X per ton), while the average price for exports to Vietnam ($X per ton) and Pakistan ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flat Hot-Rolled Steel in Coils

Imports into China

In 2023, supplies from abroad of flat hot-rolled steel in coils decreased by X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, flat hot-rolled steel coils imports contracted markedly to $X in 2023. In general, imports saw a perceptible downturn. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Japan (X tons) constituted the largest supplier of flat hot-rolled steel coils to China, accounting for a X% share of total imports. Moreover, flat hot-rolled steel coils imports from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Japan ($X) constituted the largest supplier of flat hot-rolled steel in coils to China, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Germany (X% per year).

Import Prices by Country

In 2023, the average flat hot-rolled steel coils import price amounted to $X per ton, reducing by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2022, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was India ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform