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

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

In 2021, the Saudi market for hot-rolled bars of high speed steel decreased by -X% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption continues to indicate a sharp curtailment. Hot-rolled high speed steel bar consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Hot-Rolled Bars Of High Speed Steel in Saudi Arabia

In value terms, hot-rolled high speed steel bar production declined modestly to $X in 2021 estimated in export price. Over the period under review, production showed a pronounced setback. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. Hot-rolled high speed steel bar production peaked 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 Saudi Arabia

In 2021, approx. less than X kg of hot-rolled bars of high speed steel were exported from Saudi Arabia; remaining relatively unchanged against 2020. In general, exports continue to indicate a abrupt slump. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled high speed steel bar exports stood at less than $X in 2021. Over the period under review, exports saw a sharp decrease. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for hot-rolled high speed steel bar exports from Saudi Arabia, with a X% share of total exports. Moreover, hot-rolled high speed steel bar exports to the United Arab Emirates exceeded the volume sent to the second major destination, Djibouti (X tons), threefold.

From 2012 to 2019, the average annual growth rate of volume to the United Arab Emirates totaled +X%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for hot-rolled high speed steel bar exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Djibouti ($X), with a X% share of total exports.

From 2012 to 2019, the average annual rate of growth in terms of value to the United Arab Emirates stood at +X%.

Export Prices by Country

In 2019, the average export price for hot-rolled bars of high speed steel amounted to $X per ton, reducing by -X% against the previous year. In general, the export price saw a abrupt slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2019, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2019, the country with the highest price was Djibouti ($X per ton), while the average price for exports to the United Arab Emirates totaled $X per ton.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Djibouti (X%).

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Saudi Arabia

In 2021, hot-rolled high speed steel bar imports into Saudi Arabia stood at less than X kg, remaining constant against 2020 figures. In general, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar imports amounted to less than $X in 2021. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2012, the United Arab Emirates (X tons) was the main hot-rolled high speed steel bar supplier to Saudi Arabia, with a approx. X% share of total imports.

From 2012 to 2012, the average annual growth rate of volume from the United Arab Emirates was relatively modest.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of hot-rolled high speed steel bar to Saudi Arabia.

From 2012 to 2012, the average annual growth rate of value from the United Arab Emirates was relatively modest.

Source: IndexBox Market Intelligence Platform

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