Eastern Asia: Expanded Metal Market 2022

Expanded Metal Market Size in Eastern Asia

After three years of growth, the East Asian expanded metal market decreased by -3.6% to $X in 2021. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +71.1% against 2012 indices. Over the period under review, the market reached the peak level at $X in 2020, and then dropped in the following year.

Expanded Metal Production in Eastern Asia

In value terms, expanded metal production dropped modestly to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +65.9% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. The level of production peaked at $X in 2020, and then fell modestly in the following year.

Expanded Metal Exports

Exports in Eastern Asia

In 2021, overseas shipments of iron or steel expanded metal increased by 24% to X tons, rising for the fifth year in a row after two years of decline. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +132.6% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 54%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, expanded metal exports soared to $X in 2021. Over the period under review, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, finishing at X tons, which was near 91% of total exports in 2021. It was distantly followed by South Korea (X tons), committing a 6.9% share of total exports.

China was also the fastest-growing in terms of the iron or steel expanded metal exports, with a CAGR of +8.0% from 2012 to 2021. South Korea (-2.5%) illustrated a downward trend over the same period. While the share of China (+18 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-7 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest expanded metal supplier in Eastern Asia, comprising 93% of total exports. The second position in the ranking was held by South Korea ($X), with a 3.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +14.3%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, jumping by 48% against the previous year. Export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, expanded metal export price increased by +102.9% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while South Korea stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.8%).

Expanded Metal Imports

Imports in Eastern Asia

In 2021, the amount of iron or steel expanded metal imported in Eastern Asia skyrocketed to X tons, picking up by 15% against the previous year. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when imports increased by 21%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, expanded metal imports skyrocketed to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Hong Kong SAR (X tons), distantly followed by China (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) represented the main importers of iron or steel expanded metal, together creating 97% of total imports. Democratic People's Republic of Korea (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were in Japan (with a CAGR of +9.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported iron or steel expanded metal in Eastern Asia, comprising 53% of total imports. The second position in the ranking was held by Japan ($X), with a 13% share of total imports. It was followed by Hong Kong SAR, with a 13% share.

In China, expanded metal imports declined by an average annual rate of -2.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+14.8% per year) and Hong Kong SAR (-5.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 38% against the previous year. Overall, the import price, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2020 an increase of 41% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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