China: Steel Railway Material Market 2022

Steel Railway Material Market Size in China

In 2021, the Chinese steel railway material market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Steel Railway Material Production in China

In value terms, steel railway material production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 25%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Steel Railway Material Exports

Exports from China

In 2021, the amount of railway material of steel exported from China expanded significantly to X tons, surging by 8.3% compared with 2020 figures. Over the period under review, exports, however, continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2014 with an increase of 58% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, steel railway material exports soared to $X in 2021. Overall, exports, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 54% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil (X tons), Mexico (X tons) and Indonesia (X tons) were the main destinations of steel railway material exports from China, with a combined 41% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +63.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel railway material exported from China were Brazil ($X), Indonesia ($X) and Mexico ($X), together comprising 35% of total exports.

Mexico, with a CAGR of +58.3%, recorded the highest rates of growth with regard to 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

The average steel railway material export price stood at $X per ton in 2021, increasing by 16% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average export price increased by 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Railway Material Imports

Imports into China

In 2021, the amount of railway material of steel imported into China soared to X tons, growing by 54% compared with 2020. Overall, imports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of 142% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, steel railway material imports soared to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 50%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of steel railway material to China, accounting for a 62% share of total imports. Moreover, steel railway material imports from Russia exceeded the figures recorded by the second-largest supplier, Austria (X tons), fivefold. The third position in this ranking was held by Luxembourg (X tons), with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+35.4% per year) and Luxembourg (+6.1% per year).

In value terms, the largest steel railway material suppliers to China were Russia ($X), Austria ($X) and Germany ($X), together comprising 60% of total imports. Poland, Luxembourg, Spain, Turkey, Japan and the United States lagged somewhat behind, together comprising a further 34%.

Turkey, with a CAGR of +66.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average steel railway material import price amounted to $X per ton, shrinking by -2.7% against the previous year. In general, the import price, however, enjoyed strong growth. The pace of growth was the most pronounced in 2015 when the average import price increased by 61% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+25.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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