Pakistan: Market for Hot-Rolled Bars Of High Speed Steel 2024

Market Size for Hot-Rolled Bars Of High Speed Steel in Pakistan

The Pakistani market for hot-rolled bars of high speed steel fell modestly to $X in 2022, remaining constant against the previous year. Over the period under review, consumption saw a noticeable slump. The growth pace was the most rapid in 2018 when the market value increased by 6.5%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Bars Of High Speed Steel in Pakistan

In value terms, hot-rolled high speed steel bar production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2018 when the production volume increased by 7.7%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Exports of Hot-Rolled Bars Of High Speed Steel

Exports from Pakistan

In 2022, shipments abroad of hot-rolled bars of high speed steel decreased by -18.1% to X tons, falling for the sixth year in a row after two years of growth. In general, exports, however, posted prominent growth. The growth pace was the most rapid in 2016 with an increase of 1,643% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 555% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons) was the main destination for hot-rolled high speed steel bar exports from Pakistan, accounting for a 78% share of total exports. Moreover, hot-rolled high speed steel bar exports to Bahrain exceeded the volume sent to the second major destination, Germany (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Bahrain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (0.0% per year) and the United Arab Emirates (-28.9% per year).

In value terms, Germany ($X) emerged as the key foreign market for hot-rolled bars of high speed steel exports from Pakistan, comprising 86% of total exports. The second position in the ranking was taken by Bahrain ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (0.0% per year) and the United Arab Emirates (-31.0% per year).

Export Prices by Country

The average export price for hot-rolled bars of high speed steel stood at $X per ton in 2022, with an increase of 96% against the previous year. In general, the export price posted a notable increase. The most prominent rate of growth was recorded in 2017 an increase of 220% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+8.4%).

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Pakistan

After two years of decline, purchases abroad of hot-rolled bars of high speed steel increased by 4.2% to X tons in 2022. In general, imports posted a slight increase. The pace of growth was the most pronounced in 2015 when imports increased by 364% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, hot-rolled high speed steel bar imports fell to $X in 2022. Over the period under review, imports, however, recorded a deep downturn. The growth pace was the most rapid in 2015 with an increase of 244%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Kuwait (X tons), Turkey (X tons) and China (X tons) were the main suppliers of hot-rolled high speed steel bar imports to Pakistan, together accounting for 75% of total imports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +57.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of hot-rolled bars of high speed steel to Pakistan, comprising 55% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Turkey, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-9.4% per year) and Turkey (-6.1% per year).

Import Prices by Country

The average import price for hot-rolled bars of high speed steel stood at $X per ton in 2022, reducing by -12.2% against the previous year. Overall, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by 57% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+15.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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