Middle East: Market for Flat Cold-Rolled Steel in Coils 2024

Exports of Flat Cold-Rolled Steel in Coils

Exports in the Middle East

Flat cold-rolled steel coils exports reduced to X tons in 2023, waning by X% against the previous year's figure. In general, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, flat cold-rolled steel coils exports fell markedly to $X in 2023. Over the period under review, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Turkey prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2023. The following exporters - the United Arab Emirates (X tons) and Iran (X tons) - each recorded a X% share of total exports.

Turkey was also the fastest-growing in terms of the flat cold-rolled steel in coils exports, with a CAGR of X% from 2012 to 2023. At the same time, Iran (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest flat cold-rolled steel coils supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Iran (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, declining by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Imports of Flat Cold-Rolled Steel in Coils

Imports in the Middle East

Flat cold-rolled steel coils imports soared to X tons in 2023, picking up by X% on 2022 figures. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, flat cold-rolled steel coils imports expanded notably to $X in 2023. Total imports indicated perceptible growth from 2012 to 2023: its value 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, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Turkey (X tons) represented the key importer of flat cold-rolled steel in coils, constituting X% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Iran (X%). Saudi Arabia (X tons), Iraq (X tons) and Jordan (X tons) took a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to flat cold-rolled steel coils imports into Turkey stood at X%. At the same time, the United Arab Emirates (X%), Iraq (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, Iran (X%) and Jordan (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Jordan (X p.p.) and Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported flat cold-rolled steel in coils in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Iran, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Iran (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, reducing by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then shrank in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and Iran ($X per ton), while Turkey ($X per ton) and Jordan ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform