Blog

Nov 02, 2024

Myanmar's Hot-Rolled Steel Bars and Rods Market Report 2024 - Prices, Size, Forecast, and Companies

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform. The Myanmar's market for hot-rolled steel bars and rods contracted slightly to $X in 2023, which

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

The Myanmar's market for hot-rolled steel bars and rods contracted slightly to $X in 2023, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a pronounced shrinkage. Hot-rolled steel bar and rod consumption peaked at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

In 2023, shipments abroad of hot-rolled steel bars and rods increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. Overall, exports saw a precipitous decrease. The pace of growth was the most pronounced in 2019 when exports increased by X%. The exports peaked at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, hot-rolled steel bar and rod exports amounted to $X in 2023. Over the period under review, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Thailand (X tons) and China (X tons) were the main destinations of hot-rolled steel bar and rod exports from Myanmar.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%).

From 2012 to 2023, the average annual rate of growth in terms of value to Thailand stood at X%.

In 2023, the average export price for hot-rolled steel bars and rods amounted to $X per ton, approximately mirroring the previous year. In general, the export price showed a deep reduction. The pace of growth was the most pronounced in 2018 an increase of X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

In 2023, approx. X tons of hot-rolled steel bars and rods were imported into Myanmar; approximately equating the previous year's figure. In general, imports showed a perceptible downturn. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports failed to regain momentum.

In value terms, hot-rolled steel bar and rod imports declined modestly to $X in 2023. Over the period under review, imports continue to indicate a pronounced shrinkage. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Iran (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Myanmar, together accounting for X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), China ($X) and Malaysia ($X) appeared to be the largest hot-rolled steel bar and rod suppliers to Myanmar, together comprising X% of total imports.

Among the main suppliers, Malaysia, with a CAGR of X%, 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 more modest paces of growth.

In 2023, the average import price for hot-rolled steel bars and rods amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Oman (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in Myanmar. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in Asia.

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in the U.S..

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in China.

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in the EU.

This report provides an in-depth analysis of the global market for hot-rolled steel bar and rod.