Northern America: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Northern America

The North American hot-rolled steel products market was estimated at $X in 2023, picking up by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Hot-Rolled Steel Products Production in Northern America

In value terms, hot-rolled steel products production amounted to $X in 2023 estimated in export price. In general, production recorded a relatively flat trend pattern. 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 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports in Northern America

In 2023, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) exported in Northern America amounted to X tons, increasing by X% against the year before. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel products exports shrank to $X in 2023. Total exports indicated temperate growth from 2012 to 2023: its value 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 exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2022, and then contracted in the following year.

Exports by Country

In 2023, the United States (X tons), distantly followed by Canada (X tons) were the largest exporters of flat-rolled products of iron or steel (not further worked than hot-rolled), together making up X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Canada (with a CAGR of X%).

In value terms, the United States ($X) and Canada ($X) constituted the countries with the highest levels of exports in 2023.

Canada, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2023, reducing by X% against the previous year. Export price indicated a perceptible expansion from 2012 to 2023: its price 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. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then reduced in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

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

Hot-Rolled Steel Products Imports

Imports in Northern America

In 2023, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) imported in Northern America reduced to X tons, waning by X% compared with the previous year's figure. Overall, imports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, hot-rolled steel products imports declined remarkably to $X in 2023. Over the period under review, imports saw a mild setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

The United States was the main importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Canada (X tons), generating a X% share of total imports.

The United States 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. Canada (X%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than hot-rolled) in Northern America, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in the United States totaled X%.

Import Prices by Country

In 2023, the import price in Northern America amounted to $X per ton, declining 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-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then fell markedly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

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

Source: IndexBox Platform