Southern Asia: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in Southern Asia

In 2022, the South Asian hot-rolled free-cutting steel market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, showed a deep contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Hot-Rolled Free-Cutting Steel Production in Southern Asia

In value terms, hot-rolled free-cutting steel production reduced to $X in 2022 estimated in export price. In general, production posted a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

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Hot-Rolled Free-Cutting Steel Exports

Exports in Southern Asia

After three years of growth, overseas shipments of hot-rolled bars in free-cutting steels decreased by X% to X tons in 2022. Over the period under review, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, hot-rolled free-cutting steel exports rose slightly to $X in 2022. Overall, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

India (X tons) represented roughly X% of total exports in 2022.

India was also the fastest-growing in terms of the hot-rolled bars in free-cutting steels exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in India totaled X%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, with an increase of X% against the previous year. In general, the export price, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Hot-Rolled Free-Cutting Steel Imports

Imports in Southern Asia

In 2022, overseas purchases of hot-rolled bars in free-cutting steels increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, showed a dramatic setback. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel imports surged to $X in 2022. Overall, imports, however, showed a significant decrease. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Nepal (X tons) was the major importer of hot-rolled bars in free-cutting steels, mixing up X% of total imports. Pakistan (X tons) held the second position in the ranking, distantly followed by Bangladesh (X tons). All these countries together held approx. X% share of total imports. India (X tons) and Afghanistan (X tons) held a little share of total imports.

Nepal experienced a relatively flat trend pattern with regard to volume of imports of hot-rolled bars in free-cutting steels. At the same time, Afghanistan (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. By contrast, Bangladesh (X%) and India (X%) illustrated a downward trend over the same period. While the share of Nepal (X p.p.), Pakistan (X p.p.), Bangladesh (X p.p.) and Afghanistan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of India (X p.p.) displayed negative dynamics.

In value terms, Nepal ($X) constitutes the largest market for imported hot-rolled bars in free-cutting steels in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Pakistan ($X), with a X% share of total imports. It was followed by Bangladesh, with a X% share.

In Nepal, hot-rolled free-cutting steel imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and Bangladesh (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, reducing by X% against the previous year. Import price indicated a perceptible 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. The pace of growth was the most pronounced in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2021, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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