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Singapore - Crude Steel and Steel Semi-Finished Products - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSingapore: Market for Raw Steel And Steel Semi-Finished Products 2024
Market Size for Raw Steel And Steel Semi-Finished Products in Singapore
The Singaporean market for raw steel and steel semi-finished products rose sharply to $X in 2023, with an increase of X% against the previous year. Overall, consumption, however, recorded a noticeable contraction. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a somewhat lower figure.
Production of Raw Steel And Steel Semi-Finished Products in Singapore
In value terms, production of raw steel and steel semi-finished products rose significantly to $X in 2023 estimated in export price. Overall, production, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2020 to 2023, production of growth remained at a somewhat lower figure.
Exports of Raw Steel And Steel Semi-Finished Products
Exports from Singapore
In 2023, overseas shipments of raw steel and steel semi-finished products decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports recorded a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of raw steel and steel semi-finished products shrank rapidly to $X in 2023. Overall, exports recorded a abrupt setback. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports of remained at a somewhat lower figure.
Exports by Country
Indonesia (X tons) was the main destination for exports of raw steel and steel semi-finished products from Singapore, with a X% share of total exports. Moreover, exports of raw steel and steel semi-finished products to Indonesia exceeded the volume sent to the second major destination, China (X tons), ninefold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Indonesia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Hong Kong SAR (X% per year).
In value terms, Indonesia ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Thailand, with an X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Thailand (X% per year).
Export Prices by Country
The average export price for raw steel and steel semi-finished products stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2023, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to India ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Raw Steel And Steel Semi-Finished Products
Imports into Singapore
In 2023, approx. X tons of raw steel and steel semi-finished products were imported into Singapore; growing by X% compared with the year before. Over the period under review, imports recorded a slight increase. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2023, the growth of imports of failed to regain momentum.
In value terms, imports of raw steel and steel semi-finished products skyrocketed to $X in 2023. In general, imports showed a relatively flat trend pattern. Imports peaked at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.
Imports by Country
In 2023, Indonesia (X tons) constituted the largest supplier of raw steel and steel semi-finished products to Singapore, accounting for a X% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Malaysia (X% per year).
In value terms, the largest raw steel and steel semi-finished products suppliers to Singapore were Indonesia ($X), China ($X) and Australia ($X), with a combined X% share of total imports.
Australia, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average import price for raw steel and steel semi-finished products amounted to $X per ton, falling by X% against the previous year. In general, the import price recorded a mild shrinkage. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (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 raw steel and steel semi-finished products in Singapore. 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 24102110 - Flat semi-finished products (of non-alloy steel)
- Prodcom 24102121 - Ingots, other primary forms and long semi-finished products for seamless tubes (of non-alloy steel)
- Prodcom 24102122 - Other ingots, primary forms and long semi-finished products including blanks (of non-alloy steel)
- Prodcom 24102210 - Flat semi-finished products (slabs) (of stainless steel)
- Prodcom 24102221 - Ingots, other primary forms and long semi-finished products for seamless tubes (of stainless steel)
- Prodcom 24102222 - Other ingots, primary forms and long semi-finished products (of stainless steel)
- Prodcom 24102310 - Flat semi-finished products (of alloy steel other than of stainless steel)
- Prodcom 24102321 - Ingots, other primary forms and long semi-finished products for seamless tubes (of alloy steel other than of stainless steel)
- Prodcom 24102322 - Other ingots, primary forms and long semi-finished products (of alloy steel other than of stainless steel)
Country coverage:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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