What this market covers
Semi-finished low carbon iron or non-alloy steel of rectangular section other than square.
Typical segments
- Slabs
- Thin slabs
- Continuous cast slabs
- Rolled slabs
Why this market is moving now
- World trade grew 14% from 2019 to 2024, a direct read on cross-border demand.
- Indonesia is gaining ground: its exports rose 236% from 2019 to 2024, the fastest among the ten largest exporters.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| World exports of rectangular steel semi-finished product (HS 720712) were worth $14.22 billion in 2024. | 14.22 USD billion | 2024 | |
| World exports were 14% higher in 2024 than in 2019 ($12.52 billion), calculated from the annual totals. | +14 % since 2019 | 2024 | |
| Russia was the largest exporter in 2024, with 25% of world exports ($3.59 billion). | 25 % of world exports | 2024 | |
| The three largest exporters, Russia, Brazil and Japan, shipped 56% of world exports in 2024. | 56 % of world exports | 2024 | |
| The United States was the largest importer in 2024, buying $3.61 billion, or 25% of world imports. | 25 % of world imports | 2024 | |
| 39 countries exported more than $1 million of this product in 2024. | 39 countries | 2024 | |
| The average world export price was about $0.57 per kilogram in 2024, calculated from value and weight. | 0.57 USD per kg | 2024 | |
| Countries exported 24.96 million tonnes of this product in 2024. | 24.96 million tonnes | 2024 | |
| Among the ten largest exporters, Indonesia grew fastest, with exports up 236% from 2019 to 2024. | +236 % since 2019 | 2024 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Buyers and suppliers
Who buys
- Rolling mills
- Plate makers
- Steel traders
Largest exporting countries, 2024
Largest importing countries, 2024
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is the global rectangular steel semi-finished product market?
There is no single official market total. World exports of HS 720712 reached $14.22 billion in 2024, a direct measure of cross-border trade.
Which countries export the most rectangular steel semi-finished product?
Russia led world exports in 2024 with 25% of the total, followed by Brazil, Japan and Malaysia.
Which countries import the most rectangular steel semi-finished product?
The United States was the largest importer in 2024, followed by Turkey, Italy and Belgium.
Is world trade in rectangular steel semi-finished product growing?
World exports were 14% higher in 2024 than in 2019.
What is the average export price of rectangular steel semi-finished product?
Dividing world export value by weight gives about $0.57 per kilogram in 2024.
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