Southern Asia: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in Southern Asia

In 2023, the South Asian flat-rolled steel products market decreased by X% to $X, falling for the fourth year in a row after two years of growth. In general, consumption continues to indicate a pronounced curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Flat-Rolled Steel Products Production in Southern Asia

In value terms, flat-rolled steel products production fell to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Flat-Rolled Steel Products Exports

Exports in Southern Asia

In 2023, exports of flat-rolled products of iron or non-alloy steel in Southern Asia skyrocketed to X tons, rising by X% on 2022. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, flat-rolled steel products exports fell to $X in 2023. Overall, exports saw resilient growth. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X tons), together accounting for X% of total export.

India was also the fastest-growing in terms of the flat-rolled products of iron or non-alloy steel exports, with a CAGR of X% from 2012 to 2023. From 2012 to 2023, the share of India increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest flat-rolled steel products supplier in Southern Asia.

From 2012 to 2023, the average annual growth rate of value in India totaled X%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then shrank remarkably in the following year.

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

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Flat-Rolled Steel Products Imports

Imports in Southern Asia

In 2023, supplies from abroad of flat-rolled products of iron or non-alloy steel was finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. In general, imports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 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, flat-rolled steel products imports reduced to $X in 2023. Overall, imports, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2014 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

Bangladesh was the main importer of flat-rolled products of iron or non-alloy steel in Southern Asia, with the volume of imports accounting for X tons, which was near X% of total imports in 2023. Pakistan (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by India (X%), Nepal (X%) and Sri Lanka (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nepal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel products importing markets in Southern Asia were Bangladesh ($X), Pakistan ($X) and Nepal ($X), with a combined X% share of total imports.

Nepal, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Southern Asia amounted to $X per ton, falling by X% against the previous year. Import price indicated pronounced growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, flat-rolled steel products import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform