ASEAN: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in ASEAN

The ASEAN hot-rolled free-cutting steel market dropped to $X in 2022, which is down by X% against the previous year. Overall, consumption continues to indicate a pronounced decline. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Production in ASEAN

In value terms, hot-rolled free-cutting steel production dropped to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Hot-Rolled Free-Cutting Steel Exports

Exports in ASEAN

In 2022, overseas shipments of hot-rolled bars in free-cutting steels increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2013 with an increase of X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled free-cutting steel exports skyrocketed to $X in 2022. In general, exports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Thailand (X tons) represented the main exporter of hot-rolled bars in free-cutting steels, generating X% of total exports. It was distantly followed by Malaysia (X tons), comprising a X% share of total exports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Thailand ($X), Malaysia ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, declining by X% against the previous year. Export price indicated a modest expansion 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. Based on 2022 figures, hot-rolled free-cutting steel export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Hot-Rolled Free-Cutting Steel Imports

Imports in ASEAN

In 2022, supplies from abroad of hot-rolled bars in free-cutting steels was finally on the rise to reach X tons after four years of decline. In general, imports, however, saw a dramatic decrease. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, hot-rolled free-cutting steel imports rose remarkably to $X in 2022. Over the period under review, imports, however, recorded a dramatic contraction. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Singapore was the major importer of hot-rolled bars in free-cutting steels in ASEAN, with the volume of imports reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Lao People's Democratic Republic (X tons), Malaysia (X tons) and Thailand (X tons), together generating a X% share of total imports. The Philippines (X tons), Indonesia (X tons) and Cambodia (X tons) followed a long way behind the leaders.

Imports into Singapore decreased at an average annual rate of X% from 2012 to 2022. At the same time, Cambodia (X%) and the Philippines (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%), Malaysia (X%), Lao People's Democratic Republic (X%) and Indonesia (X%) illustrated a downward trend over the same period. Malaysia (X p.p.), Thailand (X p.p.), the Philippines (X p.p.) and Cambodia (X p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Singapore and Lao People's Democratic Republic saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported hot-rolled bars in free-cutting steels in ASEAN, comprising X% of total imports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with an X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to X%. In the other countries, the average annual rates were as follows: Lao People's Democratic Republic (X% per year) and Malaysia (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, reducing by X% against the previous year. Import price indicated slight growth 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. Based on 2022 figures, hot-rolled free-cutting steel import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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