EU: Market for Flat Hot-Rolled Steel in Coils 2024

Market Size for Flat Hot-Rolled Steel in Coils in the EU

In 2023, after two years of growth, there was significant decline in the EU flat hot-rolled steel coils market, when its value decreased by X% to $X. The total consumption indicated a pronounced expansion 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. The level of consumption peaked at $X in 2022, and then declined in the following year.

Production of Flat Hot-Rolled Steel in Coils in the EU

In value terms, flat hot-rolled steel coils production dropped to $X in 2023 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2022, and then declined slightly in the following year.

Exports of Flat Hot-Rolled Steel in Coils

Exports in the EU

In 2023, exports of flat hot-rolled steel in coils in the European Union shrank to X tons, declining by X% against 2022. In general, exports recorded a pronounced slump. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, flat hot-rolled steel coils exports dropped notably to $X in 2023. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked at $X in 2022, and then fell markedly in the following year.

Exports by Country

The biggest shipments were from Germany (X tons), Belgium (X tons) and France (X tons), together finishing at X% of total export. The Netherlands (X tons) ranks next in terms of the total exports with a X% share, followed by Slovakia (X%). Austria (X tons), Sweden (X tons), Italy (X tons), Poland (X tons), Spain (X tons), the Czech Republic (X tons) and Romania (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for the Czech Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and France ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports. The Netherlands, Slovakia, Austria, Sweden, Italy, Poland, Spain, the Czech Republic and Romania lagged somewhat behind, together comprising a further X%.

The Czech Republic, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2023, declining by X% against the previous year. Export price indicated perceptible growth 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. Based on 2023 figures, flat hot-rolled steel coils export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then declined in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Sweden ($X per ton) and Italy ($X per ton), while Romania ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

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

Imports of Flat Hot-Rolled Steel in Coils

Imports in the EU

In 2023, imports of flat hot-rolled steel in coils in the European Union reduced to X tons, which is down by X% on the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, flat hot-rolled steel coils imports fell remarkably to $X in 2023. Overall, imports, however, showed a moderate increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy was the main importing country with an import of around X tons, which amounted to X% of total imports. Spain (X tons) ranks second in terms of the total imports with a X% share, followed by Poland (X%), Germany (X%), Belgium (X%) and France (X%). The Netherlands (X tons), Portugal (X tons), the Czech Republic (X tons), Austria (X tons), Hungary (X tons), Greece (X tons) and Bulgaria (X tons) followed a long way behind the leaders.

Imports into Italy increased at an average annual rate of X% from 2012 to 2023. At the same time, Hungary (X%), Portugal (X%), Poland (X%), Bulgaria (X%), Spain (X%) and the Netherlands (X%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in the European Union, with a CAGR of X% from 2012-2023. The Czech Republic and Austria experienced a relatively flat trend pattern. By contrast, Belgium (X%), Germany (X%), Greece (X%) and France (X%) illustrated a downward trend over the same period. Italy (X p.p.), Poland (X p.p.) and Hungary (X p.p.) significantly strengthened its position in terms of the total imports, while Belgium, Germany and France saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported flat hot-rolled steel in coils in the European Union, comprising X% of total imports. The second position in the ranking was held by Spain ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

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

Import Prices by Country

The import price in the European Union stood at $X per ton in 2023, reducing by X% against the previous year. Import price indicated slight growth from 2012 to 2023: its price 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. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then contracted significantly in the following year.

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

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

Source: IndexBox Platform