India: Flat-Rolled Steel Coils Market 2024

Flat-Rolled Steel Coils Market Size in India

The Indian flat-rolled steel coils market rose notably to $X in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2023 and is likely to see steady growth in years to come.

Flat-Rolled Steel Coils Production in India

In value terms, flat-rolled steel coils production rose sharply to $X in 2023 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Flat-Rolled Steel Coils Exports

Exports from India

In 2023, overseas shipments of flat-rolled steel in coils decreased by X% to X tons, falling for the third consecutive year after two years of growth. In general, exports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2017 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, flat-rolled steel coils exports contracted to $X in 2023. Over the period under review, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Nepal (X tons) was the main destination for flat-rolled steel coils exports from India, accounting for a X% share of total exports. Moreover, flat-rolled steel coils exports to Nepal exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. Italy (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Nepal totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Italy (X% per year).

In value terms, Nepal ($X) emerged as the key foreign market for flat-rolled steel in coils exports from India, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Italy, with a X% share.

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

Export Prices by Country

The average flat-rolled steel coils export price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

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

Flat-Rolled Steel Coils Imports

Imports into India

For the third consecutive year, India recorded growth in supplies from abroad of flat-rolled steel in coils, which increased by X% to X tons in 2023. Over the period under review, imports enjoyed slight growth. Imports peaked at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, flat-rolled steel coils imports soared to $X in 2023. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2023, imports failed to regain momentum.

Imports by Country

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

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

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

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

Import Prices by Country

In 2023, the average flat-rolled steel coils import price amounted to $X per ton, reducing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2022, and then declined significantly 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 South Korea ($X per ton), while the price for Ukraine ($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 prices for the other major suppliers experienced a decline.

Source: IndexBox Platform