Iron or non-alloy steel: bars and rods, forged, hot-rolled, hot-drawn or hot-extruded, but including those twisted after rolling

In 2024, iron or non-alloy steel: bars and rods, forged, hot-rolled, hot-drawn or hot-extruded, but including those twisted after rolling trade exhibited significant decline, with global flows reaching $1,552,022,943 and a three-year compound annual growth rate of +49.6% (five-year: +24.7%). The all-time peak of $1,992,037,885 was recorded in 2023; the current level is 22% below that high-water mark.

Over the 30-year observation window (1995–2024), 52% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is strengthening (+35.6% acceleration).

The World Trade Flows Characterization classifies iron or non-alloy steel: bars and rods, forged, hot-rolled, hot-drawn or hot-extruded, but including those twisted after rolling as "One-way trade" in the low price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is concentrated (Herfindahl-Hirschman Index 0.496). The three largest exporters — Malaysia ($1.1B), Saudi Arabia ($200.1M), and China ($126.7M) — collectively dominate supply flows. The leading exporter has grown at +1015.6% over the last three years.

On the demand side, importer concentration is concentrated (HHI 0.260). The three largest import markets are Hong Kong ($692.3M), Singapore ($363.4M), and Iraq ($87.4M). The largest importing market sources from 2 different supplying countries.

Estimated substitution elasticity: -22.19. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Malaysia → Hong Kong at $692.3M, representing 100.0% of the importer's total demand.

The volatility score for iron or non-alloy steel: bars and rods, forged, hot-rolled, hot-drawn or hot-extruded, but including those twisted after rolling is 10 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.