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Oct 29, 2024

Sri Lanka'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 Sri Lankan market for hot-rolled steel bars and rods expanded modestly to $X in 2023,

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

The Sri Lankan market for hot-rolled steel bars and rods expanded modestly to $X in 2023, increasing 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). Overall, consumption, however, showed a perceptible decline. Hot-rolled steel bar and rod consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

In 2023, the amount of hot-rolled steel bars and rods exported from Sri Lanka surged to X tons, growing by X% compared with the year before. In general, exports posted a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel bar and rod exports soared to $X in 2023. Overall, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Maldives (X tons) was the main destination for hot-rolled steel bar and rod exports from Sri Lanka, with a X% share of total exports. Moreover, hot-rolled steel bar and rod exports to Maldives exceeded the volume sent to the second major destination, Seychelles (X tons), sixfold. The third position in this ranking was taken by Mauritius (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Maldives stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (X% per year) and Mauritius (X% per year).

In value terms, Maldives ($X) emerged as the key foreign market for hot-rolled steel bars and rods exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Seychelles ($X), with an X% share of total exports. It was followed by Mauritius, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Maldives totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (X% per year) and Mauritius (X% per year).

The average export price for hot-rolled steel bars and rods stood at $X per ton in 2023, reducing by X% against the previous year. In general, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Ethiopia ($X per ton) was amongst the lowest.

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

In 2023, purchases abroad of hot-rolled steel bars and rods was finally on the rise to reach X tons after three years of decline. Overall, imports, however, continue to indicate a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, hot-rolled steel bar and rod imports rose to $X in 2023. In general, imports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

The United Arab Emirates (X tons), China (X tons) and India (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Sri Lanka, with a combined X% share of total imports. Malaysia, Iran, Ukraine, Singapore and Turkey lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest hot-rolled steel bar and rod suppliers to Sri Lanka were the United Arab Emirates ($X), India ($X) and China ($X), with a combined X% share of total imports. Malaysia, Iran, Singapore, Ukraine and Turkey lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Iran, with a CAGR of X%, recorded 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, which is down by X% against the previous year. In general, import price indicated a modest 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 growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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

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