Sri Lanka: Flat-Rolled Steel Coils Market 2024

Flat-Rolled Steel Coils Market Size in Sri Lanka

In 2023, after four years of decline, there was significant growth in the Sri Lankan flat-rolled steel coils market, when its value increased by X% to $X. Over the period under review, consumption, however, recorded a deep reduction. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the market failed to regain momentum.

Flat-Rolled Steel Coils Exports

Exports from Sri Lanka

In 2023, the amount of flat-rolled steel in coils exported from Sri Lanka reduced to X tons, which is down by X% on the year before. In general, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, flat-rolled steel coils exports reduced to $X in 2023. Overall, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at $X in 2022, and then reduced in the following year.

Exports by Country

Pakistan (X tons) was the main destination for flat-rolled steel coils exports from Sri Lanka, accounting for a X% share of total exports. Moreover, flat-rolled steel coils exports to Pakistan exceeded the volume sent to the second major destination, India (X tons), threefold.

From 2012 to 2023, the average annual growth rate of volume to Pakistan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Maldives (X% per year).

In value terms, Pakistan ($X), India ($X) and Maldives ($X) were the largest markets for flat-rolled steel coils exported from Sri Lanka worldwide, together accounting for X% of total exports.

Pakistan, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2023, the average flat-rolled steel coils export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, showed a perceptible slump. The pace of growth was the most pronounced in 2021 an increase of X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced mixed trend patterns.

Flat-Rolled Steel Coils Imports

Imports into Sri Lanka

After four years of decline, overseas purchases of flat-rolled steel in coils increased by X% to X tons in 2023. Overall, imports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, flat-rolled steel coils imports soared to $X in 2023. Over the period under review, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2023, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of flat-rolled steel coils imports to Sri Lanka, with a combined X% share of total imports. The United Arab Emirates, Singapore, Germany, Pakistan, Japan, South Korea, the UK, Indonesia, Malaysia and Switzerland lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest flat-rolled steel coils suppliers to Sri Lanka were China ($X), India ($X) and the United Arab Emirates ($X), with a combined X% share of total imports. Taiwan (Chinese), Singapore, South Korea, Pakistan, the UK, Indonesia, Germany, Malaysia, Japan and Switzerland lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Pakistan, with a CAGR of X%, saw the highest growth rate of 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 average flat-rolled steel coils import price amounted to $X per ton, falling by X% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2023: its price 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, flat-rolled steel coils import price increased by X% against 2015 indices. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform