Australia: Iron And Steel Market 2024

Iron And Steel Market Size in Australia

The Australian iron and steel market totaled $X in 2021, stabilizing at the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Iron And Steel Production in Australia

In value terms, iron and steel production expanded modestly to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 20%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Iron And Steel Exports

Exports from Australia

For the third consecutive year, Australia recorded growth in overseas shipments of iron and steel, which increased by 263% to X tons in 2021. Overall, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron and steel exports soared to $X in 2021. In general, exports recorded prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Pakistan (X tons) was the main destination for iron and steel exports from Australia, accounting for a 77% share of total exports. Moreover, iron and steel exports to Pakistan exceeded the volume sent to the second major destination, New Zealand (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Pakistan amounted to +57,633.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+26.8% per year) and Malaysia (+99.3% per year).

In value terms, Pakistan ($X) emerged as the key foreign market for iron and steel exports from Australia, comprising 76% of total exports. The second position in the ranking was held by New Zealand ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Pakistan amounted to +67,684.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+25.5% per year) and Malaysia (+36.8% per year).

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, shrinking by -8% against the previous year. Overall, the export price recorded a dramatic setback. The most prominent rate of growth was recorded in 2013 an increase of 105% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+17.4%), while the prices for the other major destinations experienced a decline.

Iron And Steel Imports

Imports into Australia

In 2021, the amount of iron and steel imported into Australia stood at X tons, remaining relatively unchanged against the previous year's figure. Overall, imports saw a pronounced expansion. The pace of growth was the most pronounced in 2017 with an increase of 54%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, iron and steel imports surged to $X in 2021. In general, total imports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 115% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

South Africa (X tons), Brazil (X tons) and Belgium (X tons) were the main suppliers of iron and steel imports to Australia, together comprising 93% of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +27.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), South Africa ($X) and China ($X) constituted the largest iron and steel suppliers to Australia, with a combined 89% share of total imports. Belgium lagged somewhat behind, accounting for a further 6.4%.

Among the main suppliers, Belgium, with a CAGR of +20.9%, recorded the highest growth rate of 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

In 2021, the average iron and steel import price amounted to $X per ton, rising by 54% against the previous year. Over the period under review, the import price, however, showed a noticeable setback. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+7.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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