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Hot-rolled flat steel: top exporters and importers (2024)

In 2024, world trade in hot-rolled flat steel totaled $67.4 billion (99.3 million tonnes). The top exporters were China (28%), Japan (14%) and South Korea (9%); the top importers were Vietnam (10%), Italy (6%) and South Korea (5%). Compared with 2019, the value rose 28%.

Summary

World trade
$67.4billion
Tonnes
99.3million tonnes
Price per tonne
$679
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. China$18.9 billion · 28.1%
  2. Japan$9.4 billion · 14%
  3. South Korea$6.1 billion · 9%
  4. Germany$3.1 billion · 4.5%
  5. Belgium$2.5 billion · 3.7%
    re-exports
  6. Taiwan$2 billion · 2.9%
  7. France$1.9 billion · 2.8%
  8. Turkey$1.8 billion · 2.7%
  9. United States$1.8 billion · 2.6%
  10. India$1.7 billion · 2.5%
  11. Netherlands$1.6 billion · 2.4%
    re-exports
  12. Italy$1.5 billion · 2.3%
  13. Vietnam$1.5 billion · 2.2%
  14. Russia$1.3 billion · 2%
  15. Canada$1.2 billion · 1.8%
  16. Slovakia$1.1 billion · 1.7%
  17. Egypt$1 billion · 1.5%
  18. Austria$974 million · 1.5%
  19. Ukraine$835 million · 1.2%
  20. Kazakhstan$645 million · 0.96%

Top importers

  1. Vietnam$6.4 billion · 9.6%
  2. Italy$4 billion · 5.9%
  3. South Korea$3.1 billion · 4.5%
  4. India$2.8 billion · 4.2%
  5. Germany$2.7 billion · 4.1%
  6. Turkey$2.7 billion · 4.1%
  7. United Arab Emirates$2.4 billion · 3.6%
  8. United States$2.4 billion · 3.6%
  9. Spain$2.4 billion · 3.5%
  10. Mexico$2.2 billion · 3.3%
  11. Poland$2.1 billion · 3.1%
  12. Saudi Arabia$1.9 billion · 2.8%
  13. Thailand$1.7 billion · 2.5%
  14. Malaysia$1.6 billion · 2.3%
  15. Indonesia$1.5 billion · 2.3%
  16. France$1.4 billion · 2%
  17. Japan$1.3 billion · 2%
  18. Netherlands$1.3 billion · 1.9%
    re-exports
  19. China$1.1 billion · 1.6%
  20. Taiwan$983 million · 1.5%

Trend

Who sells it

China has been the top exporter since 2023

Value in USD billions. The five largest exporters in 2024.

  • China 18.9
  • Japan 9.4
  • South Korea 6.1
  • Germany 3.1
  • Belgium 2.5

Source: CEPII BACI

Show the numbers
Country19952024
China1.218.9
Japan2.19.4
South Korea1.56.1
Germany1.93.1
Belgium2.12.5

Price

Implied price

The price per tonne rose 60% since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $679

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$424
1996$372
1997$351
1998$344
1999$270
2000$292
2001$271
2002$269
2003$344
2004$489
2005$584
2006$558
2007$664
2008$877
2009$638
2010$671
2011$791
2012$725
2013$633
2014$657
2015$506
2016$449
2017$573
2018$663
2019$599
2020$540
2021$871
2022$947
2023$771
2024$679

What it includes

  • 7208 · Hot-rolled flat steel

Products in the same chapter

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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