Jordan: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Jordan

The Jordanian hot-rolled steel products market surged to $X in 2022, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports from Jordan

In 2022, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) exported from Jordan surged to X tons, with an increase of X% compared with the previous year's figure. In general, exports continue to indicate strong growth. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel products exports skyrocketed to $X in 2022. Overall, exports posted a prominent increase. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Saudi Arabia (X tons) was the main destination for hot-rolled steel products exports from Jordan, with a X% share of total exports. Moreover, hot-rolled steel products exports to Saudi Arabia exceeded the volume sent to the second major destination, Iraq (X tons), fourfold. Free Zones (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (X% per year) and Free Zones (X% per year).

In value terms, Iraq ($X), Saudi Arabia ($X) and Free Zones ($X) appeared to be the largest markets for hot-rolled steel products exported from Jordan worldwide, with a combined X% share of total exports. Palestine, Morocco and Egypt lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Palestine, 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 more modest paces of growth.

Export Prices by Country

In 2022, the average hot-rolled steel products export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

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

Hot-Rolled Steel Products Imports

Imports into Jordan

In 2022, approx. X tons of flat-rolled products of iron or steel (not further worked than hot-rolled) were imported into Jordan; increasing by X% on the year before. Overall, imports, however, continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, hot-rolled steel products imports soared to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia (X tons), China (X tons) and India (X tons) were the main suppliers of hot-rolled steel products imports to Jordan, together comprising X% of total imports. Ukraine, South Korea, Russia, Japan, Egypt and Italy lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel products suppliers to Jordan were Saudi Arabia ($X), China ($X) and India ($X), together comprising X% of total imports. Ukraine, South Korea, Russia, Japan, Egypt and Italy lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, South Korea, 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 hot-rolled steel products import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price showed a notable increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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