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Semi-finished steel: top exporters and importers (2024)

In 2024, world trade in semi-finished steel totaled $29.2 billion (49.9 million tonnes). The top exporters were Russia (20%), Brazil (12%) and China (11%); the top importers were Turkey (14%), the United States (12%) and Indonesia (6%). Compared with 2019, the value fell 4%.

Summary

World trade
$29.2billion
Tonnes
49.9million tonnes
Price per tonne
$561
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. Russia$5.8 billion · 19.8%
  2. Brazil$3.5 billion · 11.9%
  3. China$3.1 billion · 10.7%
  4. Indonesia$2.3 billion · 7.8%
  5. Oman$1.9 billion · 6.6%
  6. Japan$1.6 billion · 5.4%
  7. Malaysia$1.5 billion · 5.2%
  8. Germany$1.1 billion · 3.9%
  9. Vietnam$1 billion · 3.4%
  10. Ukraine$969 million · 3.3%
  11. India$728 million · 2.5%
  12. Kazakhstan$516 million · 1.8%
  13. Iran$365 million · 1.3%
  14. Algeria$333 million · 1.1%
  15. South Korea$329 million · 1.1%
  16. Mexico$326 million · 1.1%
  17. Romania$274 million · 0.94%
  18. South Africa$262 million · 0.9%
  19. Saudi Arabia$260 million · 0.89%
  20. France$256 million · 0.88%

Top importers

  1. Turkey$3.9 billion · 13.5%
  2. United States$3.6 billion · 12.2%
  3. Indonesia$1.9 billion · 6.4%
  4. Taiwan$1.7 billion · 5.7%
  5. Italy$1.5 billion · 5.2%
  6. Egypt$1.3 billion · 4.4%
  7. Thailand$1 billion · 3.6%
  8. Philippines$1 billion · 3.6%
  9. Saudi Arabia$881 million · 3%
  10. Belgium$876 million · 3%
    re-exports
  11. France$778 million · 2.7%
  12. South Korea$681 million · 2.3%
  13. Brazil$634 million · 2.2%
  14. Mexico$569 million · 2%
  15. China$530 million · 1.8%
  16. Morocco$514 million · 1.8%
  17. United Kingdom$483 million · 1.7%
  18. Czechia$457 million · 1.6%
  19. Dominican Republic$453 million · 1.6%
  20. Denmark$436 million · 1.5%

Trend

Who sells it

Russia was the top exporter throughout the period

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

  • Russia 5.8
  • Brazil 3.5
  • China 3.1
  • Indonesia 2.3
  • Oman 1.9

Source: CEPII BACI

Show the numbers
Country19952024
Russia1.55.8
Brazil1.43.5
China1.13.1
Indonesia0.012.3
Oman01.9

Price

Implied price

The price per tonne rose 94% since 1995

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

  • 2024: $561

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$289
1996$270
1997$290
1998$263
1999$201
2000$202
2001$193
2002$202
2003$261
2004$381
2005$416
2006$416
2007$498
2008$726
2009$434
2010$529
2011$651
2012$537
2013$296
2014$553
2015$398
2016$341
2017$473
2018$553
2019$460
2020$436
2021$663
2022$708
2023$614
2024$561

What it includes

  • 7207 · Semi-finished 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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