Eastern Europe: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Eastern Europe

The East European hot-rolled steel products market reached $X in 2023, growing by X% against the previous year. The total consumption indicated a noticeable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Hot-Rolled Steel Products Production in Eastern Europe

In value terms, hot-rolled steel products production totaled $X in 2023 estimated in export price. The total production indicated a mild increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports in Eastern Europe

In 2023, hot-rolled steel products exports in Eastern Europe stood at X tons, growing by X% on the previous year's figure. Overall, exports, however, continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled steel products exports contracted to $X in 2023. Over the period under review, exports, however, showed a slight downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, Russia (X tons) represented the major exporter of flat-rolled products of iron or steel (not further worked than hot-rolled), mixing up X% of total exports. It was distantly followed by Slovakia (X tons), Ukraine (X tons), Poland (X tons), the Czech Republic (X tons) and Romania (X tons), together comprising a X% share of total exports. Hungary (X tons) held a little share of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of flat-rolled products of iron or steel (not further worked than hot-rolled). Slovakia, the Czech Republic and Poland experienced a relatively flat trend pattern. Romania (X%), Hungary (X%) and Ukraine (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.), Slovakia (X p.p.), Poland (X p.p.) and the Czech Republic (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Romania (X p.p.), Hungary (X p.p.) and Ukraine (X p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest hot-rolled steel products supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was held by Slovakia ($X), with an X% share of total exports. It was followed by Poland, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Russia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Slovakia (X% per year) and Poland (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price, however, enjoyed a notable expansion. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Romania (X%), while the other leaders experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports in Eastern Europe

In 2023, approx. X tons of flat-rolled products of iron or steel (not further worked than hot-rolled) were imported in Eastern Europe; growing by X% compared with 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled steel products imports declined to $X in 2023. Overall, imports recorded a moderate increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Poland was the largest importer of flat-rolled products of iron or steel (not further worked than hot-rolled) in Eastern Europe, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. The Czech Republic (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Russia (X%), Hungary (X%), Romania (X%), Slovakia (X%) and Bulgaria (X%).

Imports into Poland increased at an average annual rate of X% from 2012 to 2023. At the same time, Hungary (X%), Slovakia (X%) and Bulgaria (X%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2023. Romania and the Czech Republic experienced a relatively flat trend pattern. By contrast, Russia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Poland and Hungary increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than hot-rolled) in Eastern Europe, comprising X% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a X% share of total imports. It was followed by Russia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Poland stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Russia (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per ton, reducing by X% against the previous year. Import price indicated a temperate expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then contracted in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Romania ($X per ton) and Slovakia ($X per ton), while Bulgaria ($X per ton) and Hungary ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform