South-Eastern Asia: Iron And Steel Market 2024

Iron And Steel Market Size in South-Eastern Asia

In 2021, the Southeast Asian iron and steel market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, continues to indicate a slight contraction. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Iron And Steel Production in South-Eastern Asia

In value terms, iron and steel production soared to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Iron And Steel Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of iron and steel decreased by -72.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, recorded measured growth. The most prominent rate of growth was recorded in 2014 with an increase of 159%. The volume of export peaked at X tons in 2020, and then reduced rapidly in the following year.

In value terms, iron and steel exports fell markedly to $X in 2021. In general, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 167% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia was the key exporting country with an export of around X tons, which reached 82% of total exports. It was distantly followed by Vietnam (X tons), committing an 18% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to iron and steel exports from Indonesia stood at +1.2%. At the same time, Vietnam (+41.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +41.8% from 2012-2021. From 2012 to 2021, the share of Vietnam increased by +17 percentage points.

In value terms, Indonesia ($X) remains the largest iron and steel supplier in South-Eastern Asia, comprising 87% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total exports.

In Indonesia, iron and steel exports expanded at an average annual rate of +6.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, surging by 51% against the previous year. Export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Vietnam amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+5.1%).

Iron And Steel Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of iron and steel was finally on the rise to reach X tons after four years of decline. Over the period under review, imports, however, recorded a drastic downturn. The growth pace was the most rapid in 2016 with an increase of 44% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, iron and steel imports soared to $X in 2021. Overall, imports, however, saw a deep contraction. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons) and Thailand (X tons) dominates imports structure, together comprising 89% of total imports. It was distantly followed by Indonesia (X tons), comprising a 7.6% share of total imports. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +11.3%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Thailand ($X), Vietnam ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2021, with a combined 92% share of total imports.

Among the main importing countries, Vietnam, with a CAGR of +5.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, growing by 27% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 31%. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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