Saudi Arabia: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Saudi Arabia

The Saudi cold-rolled steel products market expanded rapidly to $X in 2022, growing 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, continues to indicate a abrupt downturn. Cold-rolled steel products consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Cold-Rolled Steel Products Exports

Exports from Saudi Arabia

In 2022, approx. X tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were exported from Saudi Arabia; waning by X% compared with the previous year's figure. Overall, exports saw a abrupt decrease. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cold-rolled steel products exports dropped notably to $X in 2022. In general, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Jordan (X tons) was the main destination for cold-rolled steel products exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, cold-rolled steel products exports to Jordan exceeded the volume sent to the second major destination, Djibouti (X tons), sixfold. Somalia (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 Jordan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Djibouti (X% per year) and Somalia (X% per year).

In value terms, Jordan ($X) emerged as the key foreign market for flat-rolled products of iron or steel (not further worked than cold-rolled) exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Somalia ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Jordan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Somalia (X% per year) and Bahrain (X% per year).

Export Prices by Country

The average cold-rolled steel products export price stood at $X per ton in 2022, surging by X% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products export price increased by X% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

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Cold-Rolled Steel Products Imports

Imports into Saudi Arabia

Cold-rolled steel products imports into Saudi Arabia totaled X tons in 2022, surging by X% compared with the previous year. Over the period under review, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, cold-rolled steel products imports rose slightly to $X in 2022. Overall, imports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of cold-rolled steel products to Saudi Arabia, with a X% share of total imports. Moreover, cold-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to Saudi Arabia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, 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: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

The average cold-rolled steel products import price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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