Iran: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in Iran

In 2023, the Iranian flat-rolled steel products market was finally on the rise to reach $X for the first time since 2019, thus ending a three-year declining trend. In general, consumption, however, recorded a abrupt contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Flat-Rolled Steel Products Exports

Exports from Iran

After four years of decline, overseas shipments of flat-rolled products of iron or non-alloy steel increased by X% to X tons in 2023. Over the period under review, exports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, flat-rolled steel products exports rose markedly to $X in 2023. In general, exports, however, faced a abrupt decrease. The growth pace was the most rapid in 2016 when exports increased by X%. As a result, the exports attained the peak of $X. From 2017 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Pakistan (X tons) was the main destination for flat-rolled steel products exports from Iran, with a X% share of total exports. Moreover, flat-rolled steel products exports to Pakistan exceeded the volume sent to the second major destination, Kazakhstan (X tons), more than tenfold. The third position in this ranking was held by Armenia (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Pakistan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (X% per year) and Armenia (X% per year).

In value terms, Pakistan ($X) remains the key foreign market for flat-rolled products of iron or non-alloy steel exports from Iran, comprising X% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with an X% share of total exports. It was followed by Iraq, with a X% share.

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

Export Prices by Country

In 2023, the average flat-rolled steel products export price amounted to $X per ton, declining by X% against the previous year. Overall, export price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, flat-rolled steel products export price increased by X% against 2018 indices. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Armenia ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Iran

After three years of decline, overseas purchases of flat-rolled products of iron or non-alloy steel increased by X% to X tons in 2023. Overall, imports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports failed to regain momentum.

In value terms, flat-rolled steel products imports expanded remarkably to $X in 2023. Over the period under review, imports, however, recorded a deep contraction. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X tons) constituted the largest flat-rolled steel products supplier to Iran, accounting for a X% share of total imports. Moreover, flat-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and the United Arab Emirates (X% per year).

In value terms, China ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the largest flat-rolled steel products suppliers to Iran, with a combined X% share of total imports.

In terms of the main suppliers, Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average flat-rolled steel products import price stood at $X per ton in 2023, falling by X% against the previous year. Overall, import price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, flat-rolled steel products import price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2022, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform