South-Eastern Asia: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in South-Eastern Asia

The Southeast Asian market for hot-rolled steel bars and rods dropped rapidly to $X in 2023, waning by X% against the previous year. Overall, consumption faced a abrupt contraction. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Hot-Rolled Steel Bars and Rods in South-Eastern Asia

In value terms, hot-rolled steel bar and rod production expanded to $X in 2023 estimated in export price. Over the period under review, production, however, posted tangible growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2023, production growth remained at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Hot-Rolled Steel Bars and Rods

Exports in South-Eastern Asia

In 2023, hot-rolled steel bar and rod exports in South-Eastern Asia fell to X tons, waning by X% against 2022. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2022, and then dropped in the following year.

In value terms, hot-rolled steel bar and rod exports reached $X in 2023. Over the period under review, exports, however, showed prominent growth. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

Exports by Country

Malaysia represented the major exporting country with an export of around X tons, which reached X% of total exports. Vietnam (X tons) ranks second in terms of the total exports with a X% share, followed by Indonesia (X%). Thailand (X tons) and Singapore (X tons) held a relatively small share of total exports.

Malaysia was also the fastest-growing in terms of the hot-rolled steel bars and rods exports, with a CAGR of X% from 2012 to 2023. At the same time, Indonesia (X%), Vietnam (X%), Thailand (X%) and Singapore (X%) displayed positive paces of growth. From 2012 to 2023, the share of Malaysia and Indonesia increased by X and X percentage points, respectively.

In value terms, the largest hot-rolled steel bar and rod supplying countries in South-Eastern Asia were Malaysia ($X), Vietnam ($X) and Indonesia ($X), together accounting for X% of total exports.

Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, surging by X% against the previous year. In general, the export price, however, showed a noticeable decrease. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the export price figures.

Imports of Hot-Rolled Steel Bars and Rods

Imports in South-Eastern Asia

In 2023, after two years of growth, there was decline in supplies from abroad of hot-rolled steel bars and rods, when their volume decreased by X% to X tons. Total imports indicated mild growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod imports declined sharply to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then contracted notably in the following year.

Imports by Country

In 2023, Thailand (X tons), Singapore (X tons), Indonesia (X tons), Vietnam (X tons), Malaysia (X tons) and the Philippines (X tons) was the major importer of hot-rolled steel bars and rods in South-Eastern Asia, achieving X% of total import. Myanmar (X tons) took a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Indonesia ($X) and Singapore ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Vietnam, Malaysia, the Philippines and Myanmar lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, the Philippines, with a CAGR of X%, saw 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 2023, the import price in South-Eastern Asia amounted to $X per ton, reducing by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then plummeted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform