Eastern Asia: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in Eastern Asia

The East Asian hot-rolled free-cutting steel market reduced modestly to $X in 2022, shrinking by X% against the previous year. In general, consumption, however, recorded a resilient increase. Over the period under review, the market hit record highs at $X in 2021, and then reduced modestly in the following year.

Hot-Rolled Free-Cutting Steel Production in Eastern Asia

In value terms, hot-rolled free-cutting steel production reduced slightly to $X in 2022 estimated in export price. In general, production, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Hot-Rolled Free-Cutting Steel Exports

Exports in Eastern Asia

In 2022, after two years of decline, there was significant growth in overseas shipments of hot-rolled bars in free-cutting steels, when their volume increased by X% to X tons. Over the period under review, exports, however, continue to indicate a abrupt descent. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled free-cutting steel exports skyrocketed to $X in 2022. Overall, exports, however, showed a deep downturn. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) represented the largest exporting country with an export of about X tons, which recorded X% of total exports. Japan (X tons) ranks second in terms of the total exports with a X% share, followed by China (X%).

From 2012 to 2022, average annual rates of growth with regard to hot-rolled free-cutting steel exports from Taiwan (Chinese) stood at X%. At the same time, China (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Taiwan (Chinese) and China increased by X and X percentage points, respectively.

In value terms, Taiwan (Chinese) ($X) remains the largest hot-rolled free-cutting steel supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Taiwan (Chinese) amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, falling by X% against the previous year. In general, the export price saw a noticeable shrinkage. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the export price figures.

Hot-Rolled Free-Cutting Steel Imports

Imports in Eastern Asia

In 2022, purchases abroad of hot-rolled bars in free-cutting steels increased by X% to X tons, rising for the fourth year in a row after two years of decline. In general, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, hot-rolled free-cutting steel imports totaled $X in 2022. Over the period under review, imports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2016 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) represented the main importing country with an import of around X tons, which resulted at X% of total imports. Hong Kong SAR (X tons) held the second position in the ranking, distantly followed by China (X tons). All these countries together took near X% share of total imports. South Korea (X tons) took a little share of total imports.

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

In value terms, the largest hot-rolled free-cutting steel importing markets in Eastern Asia were Taiwan (Chinese) ($X), Hong Kong SAR ($X) and China ($X), with a combined X% share of total imports.

In terms of the main importing countries, Taiwan (Chinese), 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 a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, declining by X% against the previous year. Import price indicated measured growth 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. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2021, and then dropped significantly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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