Vietnam: Market for Hot-Rolled Round Bars Of Stainless Steel 2024

Market Size for Hot-Rolled Round Bars Of Stainless Steel in Vietnam

The Vietnamese hot-rolled round stainless steel market dropped to $X in 2023, which is down by X% against the previous year. In general, consumption, however, recorded a remarkable increase. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market failed to regain momentum.

Production of Hot-Rolled Round Bars Of Stainless Steel in Vietnam

In value terms, hot-rolled round stainless steel production declined to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2023, production growth remained at a lower figure.

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Exports of Hot-Rolled Round Bars Of Stainless Steel

Exports from Vietnam

Hot-rolled round stainless steel exports from Vietnam skyrocketed to X tons in 2023, growing by X% against the year before. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled round stainless steel exports skyrocketed to $X in 2023. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for hot-rolled round stainless steel exports from Vietnam, accounting for a X% share of total exports. Moreover, hot-rolled round stainless steel exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Cambodia (X tons), fivefold.

From 2012 to 2023, the average annual growth rate of volume to Lao People's Democratic Republic totaled X%.

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for hot-rolled round bars of stainless steel exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Cambodia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Lao People's Democratic Republic stood at X%.

Export Prices by Country

In 2023, the average hot-rolled round stainless steel export price amounted to $X per ton, standing approx. at the previous year. Over the period under review, export price indicated temperate 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, hot-rolled round stainless steel export price decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Cambodia amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Round Bars Of Stainless Steel

Imports into Vietnam

In 2023, approx. X tons of hot-rolled round bars of stainless steel were imported into Vietnam; surging by X% compared with the previous year's figure. Over the period under review, imports continue to indicate a strong increase. The growth pace was the most rapid in 2018 with an increase of X%. As a result, imports attained the peak of X tons. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled round stainless steel imports expanded significantly to $X in 2023. In general, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2023, the growth of imports failed to regain momentum.

Imports by Country

South Korea (X tons), China (X tons) and India (X tons) were the main suppliers of hot-rolled round stainless steel imports to Vietnam, with a combined X% share of total imports. Japan, Austria, the United States, the UK and Italy lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest hot-rolled round stainless steel suppliers to Vietnam were South Korea ($X), China ($X) and Japan ($X), together accounting for X% of total imports. Austria, the United States, India, the UK and Italy lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Austria, with a CAGR of X%, recorded 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

The average hot-rolled round stainless steel import price stood at $X per ton in 2023, leveling off at the previous year. Overall, the import price saw a modest expansion. The pace of growth was the most pronounced in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and China ($X per ton), while the price for India ($X per ton) and Italy ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform