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

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

After three years of growth, the Singaporean market for hot-rolled bars of high speed steel decreased by -X% to $X in 2021. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2020, and then reduced in the following year.

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

In value terms, hot-rolled high speed steel bar production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from Singapore

In 2021, exports of hot-rolled bars of high speed steel from Singapore contracted remarkably to X tons, declining by -X% compared with 2020 figures. In general, exports showed a deep downturn. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled high speed steel bar exports fell sharply to $X in 2021. Overall, exports showed a deep setback. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), Indonesia (X tons) and Thailand (X tons) were the main destinations of hot-rolled high speed steel bar exports from Singapore, together comprising X% of total exports.

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

In value terms, China ($X) remains the key foreign market for hot-rolled high speed steel bar exports from Singapore, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+X% per year) and Malaysia (-X% per year).

Export Prices by Country

The average export price for hot-rolled bars of high speed steel stood at $X per ton in 2021, rising by X% against the previous year. Overall, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled high speed steel bar export price increased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Singapore

In 2021, approx. X tons of hot-rolled bars of high speed steel were imported into Singapore; picking up by X% compared with 2020 figures. In general, imports, however, faced a deep slump. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar imports skyrocketed to $X in 2021. Overall, imports, however, faced a deep downturn. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X tons), Sweden (X tons) and China (X tons) were the main suppliers of hot-rolled high speed steel bar imports to Singapore, together comprising X% of total imports. These countries were followed by Malaysia, the United States, Brazil, Taiwan (Chinese) and Italy, which together accounted for a further X 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Sweden ($X) and the United States ($X) appeared to be the largest hot-rolled high speed steel bar suppliers to Singapore, with a combined X% share of total imports. China, Malaysia, Brazil, Taiwan (Chinese) and Italy lagged somewhat behind, together comprising a further X, with a CAGR of +X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for hot-rolled bars of high speed steel amounted to $X per ton, dropping by -X% against the previous year. Overall, the import price, however, showed a mild increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. The import price peaked at $X per ton in 2020, and then dropped rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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