Pakistan: Market for Hot-Rolled Bars Of High Speed Steel 2022

Market Size for Hot-Rolled Bars Of High Speed Steel in Pakistan

In 2021, after four years of decline, there was significant growth in the Pakistani market for hot-rolled bars of high speed steel, when its value increased by X% to $X. Over the period under review, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Hot-Rolled Bars Of High Speed Steel in Pakistan

In value terms, hot-rolled high speed steel bar production declined to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from Pakistan

In 2021, overseas shipments of hot-rolled bars of high speed steel decreased by -X% to X tons for the first time since 2011, thus ending a nine-year rising trend. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at X tons in 2020, and then contracted rapidly in the following year.

In value terms, hot-rolled high speed steel bar exports shrank to $X in 2021. Overall, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The exports peaked at $X in 2020, and then declined in the following year.

Exports by Country

Iraq (X tons) was the main destination for hot-rolled high speed steel bar exports from Pakistan, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Iraq totaled +X%.

In value terms, Iraq ($X) also remains the key foreign market for hot-rolled high speed steel bar exports from Pakistan.

From 2012 to 2021, the average annual growth rate of value to Iraq amounted to +X%.

Export Prices by Country

In 2021, the average export price for hot-rolled bars of high speed steel amounted to $X per ton, approximately equating the previous year. Over the period under review, the export price, however, showed a abrupt contraction. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Iraq.

From 2012 to 2021, the rate of growth in terms of prices for Iraq amounted to -X% per year.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Pakistan

In 2021, purchases abroad of hot-rolled bars of high speed steel increased by X% to X tons, rising for the second year in a row after three years of decline. In general, imports saw resilient growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar imports amounted to $X in 2021. The total import value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and South Korea (X tons) were the main suppliers of hot-rolled high speed steel bar imports to Pakistan, with a combined X% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of hot-rolled high speed steel bar to Pakistan, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Austria, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+X% per year) and Austria (+X% per year).

Import Prices by Country

The average import price for hot-rolled bars of high speed steel stood at $X per ton in 2021, waning by -X% against the previous year. Overall, the import price showed a abrupt slump. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably countryorigin: the country with the highest price was China ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, 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 Market Intelligence Platform

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