Australia's Flat-Rolled Iron or Steel Market to Reach 1.8M Tons and $2.9B by 2035 - News and Statistics - IndexBox

Mar 03, 2025

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IndexBox has just published a new report: Australia - Flat-Rolled Products Of Iron Or Steel (Not Further Worked Than Cold-Rolled) - Market Analysis, Forecast, Size, Trends and Insights.

The demand for cold-rolled flat-rolled iron and steel products in Australia is set to rise over the coming years, leading to an anticipated CAGR of +4.3% in volume and +9.1% in value from 2024 to 2035. By 2035, the market volume is forecasted to reach 1.8M tons, with the market value expected to hit $2.9B in nominal prices.

Driven by increasing demand for flat-rolled products of iron or steel (not further worked than cold-rolled) in Australia, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +4.3% for the period from 2024 to 2035, which is projected to bring the market volume to 1.8M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +9.1% for the period from 2024 to 2035, which is projected to bring the market value to $2.9B (in nominal wholesale prices) by the end of 2035.

Cold-rolled steel products consumption in Australia dropped to 1.2M tons in 2024, with a decrease of -11.3% compared with 2023 figures. Overall, the total consumption indicated slight growth from 2013 to 2024: its volume increased at an average annual rate of +1.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +8.6% against 2022 indices. Over the period under review, consumption hit record highs at 1.7M tons in 2017; however, from 2018 to 2024, consumption remained at a lower figure.

The value of the cold-rolled steel products market in Australia reduced to $1.1B in 2024, declining by -7.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $1.4B. From 2018 to 2024, the growth of the market remained at a lower figure.

In 2024, the amount of flat-rolled products of iron or steel (not further worked than cold-rolled) produced in Australia declined to 1.1M tons, waning by -9.4% against the previous year. Over the period under review, the total production indicated a mild increase from 2013 to 2024: its volume increased at an average annual rate of +1.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production increased by +11.6% against 2022 indices. The most prominent rate of growth was recorded in 2015 with an increase of 39%. Over the period under review, production reached the maximum volume at 1.9M tons in 2017; however, from 2018 to 2024, production remained at a lower figure.

In value terms, cold-rolled steel products production dropped to $1.1B in 2024 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 40%. As a result, production reached the peak level of $1.6B. From 2018 to 2024, production growth remained at a lower figure.

In 2024, purchases abroad of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 16% to 55K tons for the first time since 2021, thus ending a two-year declining trend. In general, imports, however, recorded a perceptible descent. Imports peaked at 94K tons in 2013; however, from 2014 to 2024, imports stood at a somewhat lower figure.

In value terms, cold-rolled steel products imports amounted to $146M in 2024. Over the period under review, imports, however, recorded a slight contraction. The growth pace was the most rapid in 2021 with an increase of 52%. As a result, imports attained the peak of $189M. From 2022 to 2024, the growth of imports remained at a lower figure.

China (23K tons), Taiwan (Chinese) (17K tons) and Finland (4.5K tons) were the main suppliers of cold-rolled steel products imports to Australia, together comprising 80% of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +7.2%), while imports for the other leaders experienced a decline.

In value terms, China ($56M), Taiwan (Chinese) ($47M) and Finland ($17M) appeared to be the largest cold-rolled steel products suppliers to Australia, with a combined 82% share of total imports.

China, with a CAGR of +12.2%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

In 2024, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (24K tons) constituted the largest type of flat-rolled products of iron or steel (not further worked than cold-rolled) supplied to Australia, accounting for a 44% share of total imports. Moreover, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm exceeded the figures recorded for the second-largest type, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm (9.7K tons), twofold. Stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (8.3K tons) ranked third in terms of total imports with a 15% share.

From 2013 to 2024, the average annual growth rate of the volume of stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm imports totaled +1.7%. With regard to the other supplied products, the following average annual rates of growth were recorded: stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm (-1.9% per year) and stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (-7.8% per year).

In value terms, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($63M) constituted the largest type of flat-rolled products of iron or steel (not further worked than cold-rolled) supplied to Australia, comprising 43% of total imports. The second position in the ranking was taken by stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm ($30M), with a 21% share of total imports. It was followed by stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, with a 16% share.

From 2013 to 2024, the average annual growth rate of the value of stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm imports was relatively modest. With regard to the other supplied products, the following average annual rates of growth were recorded: stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm (-1.0% per year) and stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (-0.9% per year).

In 2024, the average cold-rolled steel products import price amounted to $2,648 per ton, which is down by -10.1% against the previous year. In general, import price indicated temperate growth from 2013 to 2024: its price increased at an average annual rate of +3.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, cold-rolled steel products import price decreased by -24.2% against 2022 indices. The growth pace was the most rapid in 2017 an increase of 41%. Over the period under review, average import prices hit record highs at $3,492 per ton in 2022; however, from 2023 to 2024, import prices remained at a lower figure.

Prices varied noticeably by the product type; the product with the highest price was stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($3,581 per ton), while the price for iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more ($805 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (+12.9%), while the prices for the other products experienced more modest paces of growth.

The average cold-rolled steel products import price stood at $2,648 per ton in 2024, which is down by -10.1% against the previous year. Overall, import price indicated a notable expansion from 2013 to 2024: its price increased at an average annual rate of +3.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, cold-rolled steel products import price decreased by -24.2% against 2022 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 41%. The import price peaked at $3,492 per ton in 2022; however, from 2023 to 2024, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was Japan ($4,089 per ton), while the price for New Zealand ($929 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Japan (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, overseas shipments of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 627% to 42K tons for the first time since 2019, thus ending a four-year declining trend. Over the period under review, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 1,865% against the previous year. Over the period under review, the exports hit record highs at 284K tons in 2017; however, from 2018 to 2024, the exports failed to regain momentum.

In value terms, cold-rolled steel products exports soared to $45M in 2024. In general, exports saw a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 998% against the previous year. Over the period under review, the exports hit record highs at $181M in 2017; however, from 2018 to 2024, the exports remained at a lower figure.

The United States (40K tons) was the main destination for cold-rolled steel products exports from Australia, accounting for a 95% share of total exports. Moreover, cold-rolled steel products exports to the United States exceeded the volume sent to the second major destination, India (1.7K tons), more than tenfold. Papua New Guinea (702 tons) ranked third in terms of total exports with a 1.7% share.

From 2013 to 2024, the average annual growth rate of volume to the United States amounted to +156.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+40.0% per year) and Papua New Guinea (+14.3% per year).

In value terms, the United States ($37M) emerged as the key foreign market for flat-rolled products of iron or steel (not further worked than cold-rolled) exports from Australia, comprising 82% of total exports. The second position in the ranking was taken by India ($7M), with a 15% share of total exports. It was followed by Papua New Guinea, with a 3.2% share.

From 2013 to 2024, the average annual rate of growth in terms of value to the United States amounted to +99.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+38.7% per year) and Papua New Guinea (+10.5% per year).

Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (40K tons) was the largest type of flat-rolled products of iron or steel (not further worked than cold-rolled) exported from Australia, with a 94% share of total exports. It was followed by alloy steel, flat-rolled, width 600mm or more, cold-rolled (1.1K tons), with a 2.5% share of total exports. Iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (647 tons) ranked third in terms of total exports with a 1.5% share.

From 2013 to 2024, the average annual growth rate of the volume of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm exports stood at -10.5%. With regard to the other exported products, the following average annual rates of growth were recorded: alloy steel, flat-rolled, width 600mm or more, cold-rolled (+8.1% per year) and iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (-14.4% per year).

In value terms, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($36M) emerged as the largest type of flat-rolled products of iron or steel (not further worked than cold-rolled) exported from Australia, comprising 79% of total exports. The second position in the ranking was held by alloy steel, flat-rolled, width 600mm or more, cold-rolled ($5.9M), with a 13% share of total exports. It was followed by iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more, with a 3% share.

From 2013 to 2024, the average annual growth rate of the value of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm exports stood at -4.8%. With regard to the other exported products, the following average annual rates of growth were recorded: alloy steel, flat-rolled, width 600mm or more, cold-rolled (+27.7% per year) and iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (-9.6% per year).

The average cold-rolled steel products export price stood at $1,074 per ton in 2024, with a decrease of -52% against the previous year. Overall, the export price recorded a pronounced shrinkage. The growth pace was the most rapid in 2023 when the average export price increased by 127%. As a result, the export price reached the peak level of $2,237 per ton, and then fell markedly in the following year.

There were significant differences in the average prices for the major types of exported product. In 2024, the product with the highest price was stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($40,264 per ton), while the average price for exports of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($819 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: alloy steel, flat-rolled, width less than 600mm, n.e.s. in heading no. 7226, cold-rolled (+41.5%), while the prices for the other products experienced more modest paces of growth.

The average cold-rolled steel products export price stood at $1,074 per ton in 2024, declining by -52% against the previous year. Overall, the export price showed a perceptible decrease. The pace of growth appeared the most rapid in 2023 an increase of 127%. As a result, the export price reached the peak level of $2,237 per ton, and then declined remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($21,848 per ton), while the average price for exports to Indonesia ($708 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+9.9%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cold-rolled steel products market in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles