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

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The Myanmar's market for hot-rolled steel bars and rods reduced slightly to $X in 2023, dropping 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). In general, consumption, however, posted a tangible increase. Hot-rolled steel bar and rod consumption peaked at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

After three years of decline, overseas shipments of hot-rolled steel bars and rods increased by X% to X kg in 2023. Over the period under review, exports, however, recorded a dramatic contraction. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod exports skyrocketed to $X in 2023. In general, exports, however, showed a significant curtailment. The exports peaked at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

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

From 2013 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%).

In value terms, Thailand ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Myanmar, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports.

From 2013 to 2023, the average annual growth rate of value to Thailand amounted to X%.

In 2023, the average export price for hot-rolled steel bars and rods amounted to $X per ton, remaining stable against the previous year. Overall, the export price continues to indicate a deep setback. The growth pace was the most rapid in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices failed to regain momentum.

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 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced mixed trend patterns.

In 2023, approx. X tons of hot-rolled steel bars and rods were imported into Myanmar; falling by X% against the previous year. In general, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, hot-rolled steel bar and rod imports dropped slightly to $X in 2023. Over the period under review, imports, however, recorded prominent growth. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2020; however, from 2021 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 comprising X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel bar and rod suppliers to Myanmar were Iran ($X), China ($X) and Malaysia ($X), together accounting for 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.

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2023, standing approx. at the previous year. In general, the import price recorded a noticeable decrease. The pace of growth appeared the most rapid in 2022 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Turkey ($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 a decline.

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

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