Carbon Steel Procurement Intelligence

The carbon steel category is expected to grow at a CAGR of 4.0% from 2023 to 2030. 

The APAC region accounts for the largest category share and is anticipated to be the fastest-growing region in the forecast period. Factors such as the rise in the need for carbon steel in infrastructure development, the automotive sector, construction sites, and machinery are driving the category growth. One of the key trends is the use of this product in the shipbuilding industry owing to the growing demand in China, and Southeast Asia. Availability of cheap labor and technological advancement are the reason companies are shifting their shipbuilding manufacturing to these countries.

Order your copy of the Carbon Steel category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis 

Carbon Steel Procurement Intelligence Report Scope

The Carbon Steel category is expected to have pricing growth outlook of 20 - 25% (Annual) from 2023 to 2030, with below pricing models. 

• Volume-based pricing model
• Market-based Pricing model

Supplier Selection Scope of Report

• Cost and pricing
• Past engagements
• Productivity
• Geographical presence

Supplier selection criteria of Report

• By Steel Durability
• End Use
• Category Product Segment
• Type of Grade
• Fitting Type
• Size
• Number of Production Units
• Technical Specifications
• Operational Capabilities
• Regulatory Standards
• Mandates
• Category Innovations
• Others

Carbon Steel Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Market Intelligence along with emerging technology and regulatory landscape
• Market estimates and forecasts from 2022 to 2030
• Growth opportunities, trends, and driver analysis
• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
• Porter’s 5 forces
• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
• Engagement and operating models, KPI, and SLA elements
• LCC/BCC analysis and negotiation strategies
• Peer benchmarking and product analysis
• Market report in PDF, Excel, and PPT and online dashboard versions 

Carbon Steel Procurement Cost and Supplier Intelligence

Coking coal and iron ore drives the steel price along with the effect of the supply-demand scenario of the category plays a major role in constituting the price. The prices of these raw materials are expected to remain volatile due to state-mandated measures to reduce carbon emissions and rising geopolitical tensions. Owing to strict lockdowns in Shanghai amid covid-19 pandemic and the Russia-Ukraine war have caused drastic effects in disrupting the supply chain. With easing curbs in restrictions and normalization in the supply chain have rallied the demand. In 2023, steel prices in China went up by 55.4% from USD 749 to USD 1,164 in April. With the U.S. and Europe back on inventory replenishment, demand for global supply increased resulting in an increase in prices of hot rolled carbon steel by USD 38.24 per tonne and hot rolled steel coils by USD 28.68.

Sourcing of the category involves procurement of raw materials and import of the final product from various countries. China, Russia, and Japan are the top exporters in this category. The wide availability of raw materials and large export of semi-finished and finished goods are helping them in leading the market. Best sourcing practices include reaching potential suppliers with the delivery of good quality raw materials, reduced lead time, competitive pricing, and meeting regulatory compliance. China dominates the category with the export of 66.2 million metric tons of its production. It exports majorly to the U.S., Vietnam, and India. It stands at the largest steel industry in the world and manufactures around half of all crude steel produced globally. Chinese producer, Baowu Group produces 120 million metric tons of crude steel, which is significantly higher than other producers around the world.

List of Key Suppliers

• AK Steel Corporation
• Arcelor Mittal
• Baosteel Group
• Evraz plc
• HBIS Group
• JFE Steel Corporation
• Nippon Steel Corporation
• NLMK, POSCO
• United States Steel

Add-on Services provided by Grand View Research Pipeline:

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

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Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions