Report Update: Aug 15, 2024

India - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Aug 15, 2024

India's Exports of Hot-Rolled Steel Bar and Rod Plunge to $680M in 2023

India Hot-Rolled Steel Bar and Rod Exports

In 2023, shipments abroad of hot-rolled steel bars and rods decreased by -53.5% to 542K tons, falling for the second consecutive year after three years of growth. In general, exports, however, showed notable growth. The pace of growth appeared the most rapid in 2021 with an increase of 154%. As a result, the exports reached the peak of 2.5M tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, hot-rolled steel bar and rod exports fell sharply to $680M (IndexBox estimates) in 2023. Overall, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 234%. As a result, the exports attained the peak of $2B. From 2022 to 2023, the growth of the exports remained at a lower figure. India Hot-Rolled Steel Bar and Rod Exports By Country (Million USD)

COUNTRY	Export Value of Hot-Rolled Steel Bar and Rod in India (million USD)
COUNTRY	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Nepal	18.3	39.4	33.2	97.9	77.5	138	113	94.0	149	61.6	94.9
Italy	24.0	29.3	22.0	42.2	35.4	40.3	40.9	38.9	123	177	91.9
Germany	29.2	18.9	11.8	9.8	21.4	49.9	56.1	36.7	77.0	86.0	66.6
United Arab Emirates	19.8	19.2	16.3	11.7	21.3	19.5	16.1	26.4	71.2	61.4	33.5
Turkey	5.9	8.2	6.4	4.9	5.0	6.1	10.6	14.8	33.4	38.0	27.6
Mexico	7.1	7.8	7.1	5.8	10.4	10.6	8.6	9.0	52.2	25.5	27.6
Bangladesh	13.0	10.1	9.2	5.6	11.8	11.7	32.2	12.9	26.6	34.7	27.3
Taiwan (Chinese)	15.3	30.3	6.4	9.6	26.6	14.3	9.9	16.7	182	25.5	18.6
Thailand	29.3	21.9	18.6	12.5	23.1	26.5	20.6	38.1	153	39.0	15.1
Singapore	1.2	1.6	1.7	0.5	70.4	50.5	20.0	8.2	195	37.9	1.7
Hong Kong	0.8	0.6	0.1	N/A	103	42.1	81.8	83.8	364	87.6	N/A
Others	241	223	148	98.3	290	232	234	231	611	660	276
Total	405	411	281	299	696	641	644	611	2,037	1,335	680

Exports by Country

Nepal (158K tons) was the main destination for hot-rolled steel bar and rod exports from India, with a 29% share of total exports. Moreover, hot-rolled steel bar and rod exports to Nepal exceeded the volume sent to the second major destination, Italy (52K tons), threefold. The third position in this ranking was held by Bangladesh (39K tons), with a 7.2% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to Nepal stood at +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+15.7% per year) and Bangladesh (+7.2% per year).

In value terms, the largest markets for hot-rolled steel bar and rod exported from India were Nepal ($95M), Italy ($92M) and Germany ($67M), with a combined 37% share of total exports.

In terms of the main countries of destination, Nepal, with a CAGR of +17.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (230K tons) was the largest type of hot-rolled steel bars and rods exported from India, accounting for a 42% share of total exports. Moreover, iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils exceeded the volume of the second product type, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (88K tons), threefold. The third position in this ranking was held by hot-rolled bars in bearing steels (86K tons), with a 16% share.

From 2013 to 2023, the average annual rate of growth in terms of the volume of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils exports amounted to +1.9%. With regard to the other exported products, the following average annual rates of growth were recorded: iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (+2.1% per year) and hot-rolled bars in bearing steels (+6.4% per year).

In value terms, hot-rolled round bars of stainless steel ($162M), iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($140M) and hot-rolled wire rod in coil of stainless steel ($123M) appeared to be the most exported types of hot-rolled steel bars and rods from India worldwide, together accounting for 62% of total exports. Hot-rolled bars in bearing steels, steel, stainless, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling and steel, alloy; bars and rods, hot-rolled, in irregularly wound coils lagged somewhat behind, together accounting for a further 38%.

Steel, stainless, with a CAGR of +53.0%, recorded the highest rates of growth with regard to the value of exports, among the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices by Country

In 2023, the hot-rolled steel bar and rod price amounted to $1,256 per ton (FOB, India), with an increase of 9.6% against the previous year. Overall, export price indicated a modest increase from 2013 to 2023: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, hot-rolled steel bar and rod export price increased by +101.0% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of 40%. The export price peaked in 2023 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($3,895 per ton), while the average price for exports to Nepal ($599 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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

Product coverage:

Prodcom 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
Prodcom 24106120 - Wire rod of free-cutting steel
Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
Prodcom 24106140 - Wire rod for tyre cord
Prodcom 24106190 - Other wire rod (of non-alloy steel)
Prodcom 24106210 - Hot-rolled concrete reinforcing bars
Prodcom 24106230 - Hot-rolled bars in free-cutting steels
Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
Prodcom 24106410 - Hot-rolled round bars, of stainless steel
Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
Prodcom 24106630 - Hot-rolled bars in bearing steels
Prodcom 24106640 - Hot-rolled bars in tool steels
Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)

Country coverage:

India

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in India
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023

India - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

India's Exports of Hot-Rolled Steel Bar and Rod Plunge to $680M in 2023

India Hot-Rolled Steel Bar and Rod Exports

Exports by Country

Exports by Type

Export Prices by Country

Product coverage:

Country coverage:

Data coverage:

Reasons to buy this report:

1. INTRODUCTION

2. EXECUTIVE SUMMARY

3. MARKET OVERVIEW

4. MOST PROMISING PRODUCT

5. MOST PROMISING SUPPLYING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

7. PRODUCTION

8. IMPORTS

9. EXPORTS

10. PROFILES OF MAJOR PRODUCERS

LIST OF TABLES

LIST OF FIGURES

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