Australia and Oceania: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Australia and Oceania

The hot-rolled steel products market in Australia and Oceania reached $X in 2023, with an increase of X% against the previous year. In general, consumption continues to indicate a perceptible decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Hot-Rolled Steel Products Production in Australia and Oceania

In value terms, hot-rolled steel products production rose significantly to $X in 2023 estimated in export price. In general, production continues to indicate a noticeable decline. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports in Australia and Oceania

In 2023, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, continue to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2022 with an increase of X%. The volume of export peaked at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, hot-rolled steel products exports dropped slightly to $X in 2023. Overall, exports, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2022 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Australia prevails in exports structure, recording X tons, which was approx. X% of total exports in 2023. New Zealand (X tons) held a relatively small share of total exports.

Australia experienced a relatively flat trend pattern with regard to volume of exports of flat-rolled products of iron or steel (not further worked than hot-rolled). New Zealand (X%) illustrated a downward trend over the same period. Australia (X p.p.) significantly strengthened its position in terms of the total exports, while New Zealand saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Australia ($X) remains the largest hot-rolled steel products supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was held by New Zealand ($X), with a X% share of total exports.

In Australia, hot-rolled steel products exports remained relatively stable over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Australia and Oceania amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by New Zealand (X%).

Hot-Rolled Steel Products Imports

Imports in Australia and Oceania

In 2023, overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled) decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports recorded a deep contraction. The pace of growth was the most pronounced in 2022 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, hot-rolled steel products imports declined sharply to $X in 2023. Overall, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Australia dominates imports structure, resulting at X tons, which was near X% of total imports in 2023. New Zealand (X tons) and Papua New Guinea (X tons) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than hot-rolled) imports, with a CAGR of X% from 2012 to 2023. Papua New Guinea (X%) and New Zealand (X%) illustrated a downward trend over the same period. Australia (X p.p.) significantly strengthened its position in terms of the total imports, while Papua New Guinea and New Zealand saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Australia ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than hot-rolled) in Australia and Oceania, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Australia amounted to X%. In the other countries, the average annual rates were as follows: New Zealand (X% per year) and Papua New Guinea (X% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2023, shrinking by X% against the previous year. Import price indicated modest 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. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then dropped sharply in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Papua New Guinea (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform