Eastern Asia: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2024

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Eastern Asia

The East Asian market for hot-rolled wire rod in coil of stainless steel skyrocketed to $X in 2023, surging by X% against the previous year. Overall, consumption saw a pronounced increase. Over the period under review, the market attained the maximum level in 2023 and is likely to see gradual growth in the near future.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Eastern Asia

In value terms, hot-rolled wire stainless steel rod production totaled $X in 2023 estimated in export price. In general, production, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

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Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports in Eastern Asia

In 2023, approx. X tons of hot-rolled wire rod in coil of stainless steel were exported in Eastern Asia; shrinking by X% on 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, hot-rolled wire stainless steel rod exports declined markedly to $X in 2023. Overall, exports continue to indicate a mild shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, Taiwan (Chinese) (X tons) represented the major exporter of hot-rolled wire rod in coil of stainless steel, comprising X% of total exports. It was distantly followed by China (X tons), South Korea (X tons) and Japan (X tons), together mixing up a X% share of total exports. Hong Kong SAR (X tons) took a minor share of total exports.

From 2012 to 2023, the biggest increases were recorded for Hong Kong SAR (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Japan ($X) and China ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of total exports. South Korea and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Hong Kong SAR, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced a decline in the export price figures.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports in Eastern Asia

In 2023, purchases abroad of hot-rolled wire rod in coil of stainless steel decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod imports reduced dramatically to $X in 2023. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2022, and then dropped sharply in the following year.

Imports by Country

In 2023, South Korea (X tons) represented the major importer of hot-rolled wire rod in coil of stainless steel, generating X% of total imports. China (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%) and Japan (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest hot-rolled wire stainless steel rod importing markets in Eastern Asia were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries 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 2023, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform