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Iron or non-alloy steel; flat-rolled products of a width of 600mm or more, hot-rolled, not clad, plated or coated

7208 (Harmonized System 1992 for 4-digit)

2023
World Trade $71BRnk 53 / 1217
2023
Top Exporter | Top Importer $16.4B | $5.05BChina | Vietnam
2023
Product Complexity 0.45Rnk 389 / 1044
2022 - 2023
Export Growth (CAGR) -9.63%Rnk 735 / 1217
2023
Share of World Trade 0.31%Rnk 53 / 1217

About

Overview This page contains the latest trade data of Hot-Rolled Iron. In 2023, Hot-Rolled Iron were the world's 53rd most traded product, with a total trade of $71B. Between 2022 and 2023 the exports of Hot-Rolled Iron decreased by -9.63%, from $78.6B to $71B. Trade in Hot-Rolled Iron represent 0.31% of total world trade.

Hot-Rolled Iron are a part of Iron & steel. They include Hot Rolled Iron or Non-Alloy Steel Coil (Width >600mm, Thickness <3mm, n.e.s.), Hot Rolled Iron/Non-Alloy Steel Flat (>600mm, t>10mm, NES), Hot Rolled Iron/Non-Alloy Steel Coil (>600mm, t3-4.75mm, NES), Hot Rolled Iron/Non-Alloy Steel Coil (>600mm, t4.75-10mm, NES), Hot Rolled Iron/Non-Alloy Steel Flat (>600mm, t4.75-10mm, NES), Hot Rolled Iron/Non-Alloy Steel Coil (>600mm, t>10mm, NES), Hot Rolled Iron/Non-Alloy Steel (>600mm, NES), Hot Rolled Iron/Non-Alloy Steel Flat (>600mm, t3-4.75mm, NES), Hot Rolled Iron/Non-Alloy Steel Flat (>600mm, t<3mm, NES), and Hot Rolled Iron/Non-Alloy Steel Coil (>600mm, t<3mm, MYP 275MPa), among others.

Exports In 2023 the top exporters of Hot-Rolled Iron  were China ($16.4B), Japan ($10.4B), South Korea ($6.09B), Germany ($3.57B), and Belgium ($2.89B).

Imports In 2023 the top importers of Hot-Rolled Iron were Vietnam ($5.05B), Italy ($4.85B), South Korea ($3.76B), Turkey ($3.52B), and Germany ($3.06B).

Ranking Hot-Rolled Iron ranks 389th in the Product Complexity Index (PCI).

Description Flat-rolled products of iron or non-alloy steel are used in the production of other goods. They can be made from a variety of materials, including iron and steel.

Latest Trends

Latest Data

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The following visualization shows the latest trends on Hot-Rolled Iron. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)China$16.4B
Top Destination (2023)Vietnam$5.05B

In 2023 Hot-Rolled Iron were the world's 53rd most traded product (out of 1,217).

In 2023, the top exporters of Hot-Rolled Iron were China ($16.4B), Japan ($10.4B), South Korea ($6.09B), Germany ($3.57B), and Belgium ($2.89B).

In 2023, the top importers of Hot-Rolled Iron were Vietnam ($5.05B), Italy ($4.85B), South Korea ($3.76B), Turkey ($3.52B), and Germany ($3.06B).

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Exporters of Hot-Rolled Iron (2023)
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Importers of Hot-Rolled Iron (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)China$5.16B
Top Destination Growth (2022 -  2023)India$895M

Between 2022 and 2023, the exports of Hot-Rolled Iron grew the fastest in China ($5.16B), Vietnam ($923M), United States ($168M), Egypt ($108M), and South Africa ($40.7M).

Between 2022 and 2023, the fastest growing importers of Hot-Rolled Iron were India ($895M), Mexico ($791M), Saudi Arabia ($273M), United Arab Emirates ($220M), and Brazil ($165M).

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Exporters of Hot-Rolled Iron (2022 - 2023)

Importers of Hot-Rolled Iron (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Hot-Rolled Iron.

In 2023, market concentration measured using Shannon Entropy, was 4.3. This means that most of the exports of Hot-Rolled Iron are explained by 19 countries.

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Value of Exports in Hot-Rolled Iron

Net Trade

TOP NET EXPORTER (2023)China$14.9B
TOP NET IMPORTER (2023)Vietnam$3.05B

This map shows which countries export or import more of Hot-Rolled Iron. Each country is colored based on the difference in exports and imports of Hot-Rolled Iron during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Hot-Rolled Iron were China ($14.9B), Japan ($8.98B), South Korea ($2.33B), Belgium ($1.9B), and Chinese Taipei ($1.88B).

In 2023, the countries that had a largest trade value in imports than in exports of Hot-Rolled Iron were Vietnam ($3.05B), Italy ($2.85B), Mexico ($2.5B), Turkey ($2.36B), and United Arab Emirates ($2.34B).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Hot-Rolled Iron, disaggragated by their HS6 level were Hot Rolled Iron or Non-Alloy Steel... ($23.2B), Hot Rolled Iron/Non-Alloy Steel Flat (>600mm,... ($16.6B), Hot Rolled Iron/Non-Alloy Steel Coil (>600mm,... ($11.9B), Hot Rolled Iron/Non-Alloy Steel Coil (>600mm,... ($8.13B), and Hot Rolled Iron/Non-Alloy Steel Flat (>600mm,... ($5B)

HS6 Disaggregation for Hot-Rolled Iron (2023)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Hot-Rolled Iron.
It is possible to select the main countries that export or import Hot-Rolled Iron in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Hot-Rolled Iron by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $149M
TOP IMPORT POTENTIALSouth Korea+ $120M

Hot-Rolled Iron’s highest export potential is India. With an export gap of $149M.  Hot-Rolled Iron’s highest import potential is South Korea with an import gap of $120M.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Hot-Rolled Iron.

Country by Relatedness

The following visualization shows the relatedness of Hot-Rolled Iron to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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