Pakistan: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Pakistan

The Pakistani hot-rolled steel products market dropped significantly to $X in 2022, declining 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). Over the period under review, consumption, however, enjoyed a strong expansion. As a result, consumption reached the peak level of $X, and then fell markedly in the following year.

Hot-Rolled Steel Products Exports

Exports from Pakistan

Hot-rolled steel products exports from Pakistan soared to X tons in 2022, picking up by X% on the year before. Overall, exports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, hot-rolled steel products exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for hot-rolled steel products exports from Pakistan, with a X% share of total exports. Moreover, hot-rolled steel products exports to the United Arab Emirates exceeded the volume sent to the second major destination, Oman (X tons), ninefold. The third position in this ranking was taken by Turkey (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Turkey (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for flat-rolled products of iron or steel (not further worked than hot-rolled) exports from Pakistan, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports. It was followed by Turkey, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Turkey (X% per year).

Export Prices by Country

In 2022, the average hot-rolled steel products export price amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to the United Arab Emirates ($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 South Africa (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Pakistan

After two years of growth, overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled) decreased by X% to X tons in 2022. In general, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then declined markedly in the following year.

In value terms, hot-rolled steel products imports declined significantly to $X in 2022. Over the period under review, imports, however, showed a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then dropped notably in the following year.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of hot-rolled steel products imports to Pakistan, together accounting for X% of total imports. Indonesia, Saudi Arabia, Brazil, Kazakhstan, Russia and Ukraine lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (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 Pakistan were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports. Indonesia, Saudi Arabia, Brazil, Russia, Kazakhstan and Ukraine lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average hot-rolled steel products import price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in the near future.

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

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

Source: IndexBox Platform

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