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

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

The Sri Lankan market for hot-rolled bars of high speed steel fell remarkably to $X in 2021, which is down by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a sharp shrinkage. Hot-rolled high speed steel bar consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from Sri Lanka

In 2021, overseas shipments of hot-rolled bars of high speed steel increased by X% to X tons, rising for the fifth consecutive year after two years of decline. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2019 when exports increased by X%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, hot-rolled high speed steel bar exports soared to $X in 2021. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

Maldives (X tons) was the main destination for hot-rolled high speed steel bar exports from Sri Lanka, accounting for a X% share of total exports. Moreover, hot-rolled high speed steel bar exports to Maldives exceeded the volume sent to the second major destination, Seychelles (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Maldives stood at +X%.

In value terms, Seychelles ($X) remains the key foreign market for hot-rolled high speed steel bar exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Maldives ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Seychelles totaled +X%.

Export Prices by Country

In 2021, the average export price for hot-rolled bars of high speed steel amounted to $X per ton, shrinking by -X% against the previous year. In general, the export price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2019 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Seychelles ($X per ton), while the average price for exports to Maldives stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+X%).

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Sri Lanka

For the third year in a row, Sri Lanka recorded growth in overseas purchases of hot-rolled bars of high speed steel, which increased by X% to X tons in 2021. Overall, imports, however, saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, hot-rolled high speed steel bar imports skyrocketed to $X in 2021. In general, imports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Taiwan (Chinese) (X kg) constituted the largest supplier of hot-rolled high speed steel bar to Sri Lanka, accounting for a X% share of total imports. Moreover, hot-rolled high speed steel bar imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, France (X kg), twofold. The third position in this ranking was taken by China (X kg), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+X% per year) and China (-X% per year).

In value terms, France ($X) constituted the largest supplier of hot-rolled high speed steel bar to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-X% per year) and China (-X% per year).

Import Prices by Country

The average import price for hot-rolled bars of high speed steel stood at $X per ton in 2021, rising by X% against the previous year. Overall, the import price saw a notable expansion. The pace of growth was the most pronounced in 2013 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably countryorigin: the country with the highest price was France ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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