India: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in India

The Indian non-alloy steel u-section market declined slightly to $X in 2022, stabilizing at the previous year. In general, consumption recorded a mild slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Alloy Steel U-Section Production in India

In value terms, non-alloy steel u-section production declined to $X in 2022 estimated in export price. In general, production recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Non-alloy steel u-section production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Non-Alloy Steel U-Section Exports

Exports from India

Non-alloy steel u-section exports from India reduced dramatically to X tons in 2022, declining by X% against the year before. Over the period under review, exports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, non-alloy steel u-section exports dropped dramatically to $X in 2022. In general, exports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nepal (X tons) was the main destination for non-alloy steel u-section exports from India, with a X% share of total exports. Moreover, non-alloy steel u-section exports to Nepal exceeded the volume sent to the second major destination, Sri Lanka (X tons), ninefold. Bhutan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Nepal amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (X% per year) and Bhutan (X% per year).

In value terms, Nepal ($X) remains the key foreign market for u-sections of non-alloy steel exports from India, comprising X% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with an X% share of total exports. It was followed by Bhutan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Nepal stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (X% per year) and Bhutan (X% per year).

Export Prices by Country

The average non-alloy steel u-section export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Zambia ($X per ton) and Bangladesh ($X per ton), while the average price for exports to Nepal ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bhutan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Alloy Steel U-Section Imports

Imports into India

In 2022, overseas purchases of u-sections of non-alloy steel decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, showed a remarkable increase. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, non-alloy steel u-section imports surged to $X in 2022. Over the period under review, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest non-alloy steel u-section supplier to India, accounting for a X% share of total imports. Moreover, non-alloy steel u-section imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by Belgium (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Belgium (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of u-sections of non-alloy steel to India, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Italy (X% per year).

Import Prices by Country

The average non-alloy steel u-section import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price, however, recorded a mild setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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