Global indirect steel exports grow by 23% from 2013 to 2023 – WorldSteel

Global indirect steel exports grew by 23% over the period 2013-2023. This is stated in the latest report of the World Steel Association (Worldsteel).

As noted, in 2013 the figure was 319 million tons, and in 2023 the figure increased to 392 million tons.

According to Worldsteel, in 2023, the volume of indirect steel trade was equivalent to 95% of direct exports of rolled and semi-finished products.

Indirect trade is conducted through exports and imports of goods containing steel. The Association lists these goods as falling into six categories: motor vehicles, other vehicles, household appliances, mechanical machinery, electrical equipment and metal products.

Indirect exports were analyzed for 74 countries using the UN Comtrade database.

Recall that according to Worldsteel, global steel exports for 2023 increased by 6.5% compared to 2022 – to 402.8 million tons.

The main exports in 2023 were hot-rolled sheets and coils – 75.6 million tons (+11.2% y/y), semi-finished products – 53.2 million tons (+19.2% y/y), galvanized steel – 41 million tons (+6.8% y/y), and steel pipes and fittings – 36.5 million tons (+6.7% y/y). ), galvanized steel products – 41 million t (+6.8% y/y), steel pipes and fittings – 36.5 million t (+6.7% y/y), and cold-rolled sheets and coils – 30.3 million t (-1.6% y/y).

The largest steel exporters for 2023 were China with 94.3 million tons, Japan with 32.2 million tons, South Korea with 27 million tons, the EU with 26 million tons and Germany with 22.5 million tons. At the same time, the EU is the largest importer of steel products – 39.2 million tons.