Central Asia: Iron And Steel Market 2024

Iron And Steel Market Size in Central Asia

In 2021, the Central Asian iron and steel market increased by 2.7% to $X for the first time since 2017, thus ending a three-year declining trend. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Iron And Steel Production in Central Asia

In value terms, iron and steel production expanded modestly to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 37%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Iron And Steel Exports

Exports in Central Asia

In 2021, overseas shipments of iron and steel increased by 17% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 3,332% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, iron and steel exports soared to $X in 2021. In general, exports saw a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 3,844%. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

Kazakhstan (X tons) represented roughly 100% of total exports in 2021.

Kazakhstan was also the fastest-growing in terms of the iron and steel exports, with a CAGR of +18.0% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest iron and steel supplier in Central Asia.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan stood at +51.2%.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, with an increase of 3.7% against the previous year. Overall, the export price posted significant growth. The pace of growth was the most pronounced in 2016 an increase of 366% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to +28.1% per year.

Iron And Steel Imports

Imports in Central Asia

In 2021, purchases abroad of iron and steel decreased by -11.5% to X tons, falling for the second consecutive year after three years of growth. Overall, imports recorded a perceptible decrease. The pace of growth appeared the most rapid in 2014 with an increase of 34% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel imports expanded slightly to $X in 2021. Over the period under review, imports saw a drastic downturn. The growth pace was the most rapid in 2019 when imports increased by 52% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Kazakhstan was the largest importing country with an import of around X tons, which resulted at 77% of total imports. Kyrgyzstan (X tons) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Tajikistan (4.6%). Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to iron and steel imports into Kazakhstan stood at +1.1%. At the same time, Kyrgyzstan (+6.6%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +6.6% from 2012-2021. By contrast, Tajikistan (-10.2%) and Uzbekistan (-24.8%) illustrated a downward trend over the same period. Kazakhstan (+29 p.p.) and Kyrgyzstan (+8.4 p.p.) significantly strengthened its position in terms of the total imports, while Tajikistan and Uzbekistan saw its share reduced by -3.7% and -30.4% from 2012 to 2021, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported iron and steel in Central Asia, comprising 74% of total imports. The second position in the ranking was taken by Kyrgyzstan ($X), with a 17% share of total imports. It was followed by Tajikistan, with a 4.9% share.

In Kazakhstan, iron and steel imports declined by an average annual rate of -2.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kyrgyzstan (+4.1% per year) and Tajikistan (-10.3% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, jumping by 16% against the previous year. In general, the import price, however, saw a pronounced downturn. The growth pace was the most rapid in 2017 when the import price increased by 32%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Kyrgyzstan ($X per ton) and Tajikistan ($X per ton), while Kazakhstan ($X per ton) and Uzbekistan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tajikistan (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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