Asia

Crude Steel Production ; Trade in Steel

The drive to industrialisation in Asia has made it the region with the world’s highest steel production and highest steel demand. ISSB holds trade data at 6 digit HS tariff level for the dominant Asian steel nations: China, Japan, India, South Korea, Taiwan, Malaysia, Thailand, Indonesia and Singapore, whom together produce 99.5% of the regions steel. Additionally with export coverage of 97% of steel production globally ISSB is ideally placed to assess the market for steel in those Asian countries for which national trade data is not readily available, such as Vietnam, the Philippines and Pakistan.

Crude Steel Production

The development of Chinese steel production dominates both Asian and Global steel output. China accounted for just 39% of Asia’s crude steel production in 2000 which has now risen to 70% as Chinese production increased more than five-fold between 2000 and 2011. Indian production has also grown fast, from 27 million tonnes in 2000 to 72 million tonnes in 2011.
In 2000 Asia as a whole accounted for 39% of global crude steel production with China accounting for 15%. In 2010 China accounted for 45% of the global total on its own with Asia as a whole accounting for 64%.
Below we summarise World Steel Association crude steel production data for Asia.

Trade in Steel

Asia contains some of the worlds largest steel exporting and importing nations.
Chinese steel exports have dominated headlines in recent years, not just because of the total tonnages being exported, but also due to their volatility. With Chinese production levels so high even small changes in the proportion going to the domestic market can create export surges with serious implications for markets elsewhere. Chinese exports fell 61% in 2009 while imports rose 43% leaving China a small net importer of steel for the year compared with a net exporter of 48 million tonnes in 2007 and 41 million tonnes in 2008. The first half of 2010 saw Chinese exports up sharply but they peaked in June and fell sharply thereafter with a variety of export tax rebates having been cancelled in July, and China recorded net exports of 22 million tonnes for the full year.

Compared to China, Japanese steel exports tend to be much steadier over time. With exports in 2009 down just 11% Japan became, once again, the world largest steel exporter which is a position it retained in 2010.

In 2009 South Korea was the worlds 3rd largest steel importer and 6th largest steel exporter. With the global recession South Korean imports fell by more than exports with the result that it temporarily became a net importer of steel. 2010 saw both imports and exports increase by 22% leaving South Korea as the worlds 2nd largest steel importer 6th largest exporter.

In addition to China, Japan and South Korea ISSB holds national trade data from the other major steel producing nations in Asia : India, Taiwan, Malaysia, Thailand, Indonesia and Singapore.

Given our coverage which includes exports by countries producing 99.5% the steel in Asia and of 97% of steel produced globally ISSB are excellently placed to assess the markets for steel in countries, such as Vietnam, where national trade statistics are not readily available.

If you want top know more about the exports and imports of steel and steel-making raw materials by countries in Asia please contact or use our NEW on-line Trade Enquiry System.