Europe: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Europe

After two years of growth, the Europe hot-rolled steel products market decreased by X% to $X in 2023. The total consumption indicated a moderate 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, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2022, and then declined slightly in the following year.

Hot-Rolled Steel Products Production in Europe

In value terms, hot-rolled steel products production rose sharply to $X in 2023 estimated in export price. The total production indicated a perceptible expansion 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 attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports in Europe

In 2023, approx. X tons of flat-rolled products of iron or steel (not further worked than hot-rolled) were exported in Europe; waning by X% against 2022 figures. In general, exports continue to indicate 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 maximum at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, hot-rolled steel products exports fell to $X in 2023. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Belgium (X tons), Russia (X tons), Germany (X tons), France (X tons), the Netherlands (X tons), Italy (X tons), Slovakia (X tons), Austria (X tons) and Sweden (X tons), together resulting at X% of total export. The following exporters - Finland (X tons), Ukraine (X tons), Poland (X tons) and Spain (X tons) - together made up X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Austria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel products supplying countries in Europe were Belgium ($X), Germany ($X) and Russia ($X), together accounting for X% of total exports. France, Sweden, Italy, the Netherlands, Austria, Finland, Slovakia, Spain, Poland and Ukraine lagged somewhat behind, together accounting for a further X%.

Austria, with a CAGR of X%, recorded the highest rates of growth with regard to 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 Europe stood at $X per ton in 2023, shrinking by X% against the previous year. Export price indicated a measured expansion 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. Based on 2023 figures, hot-rolled steel products export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked 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 Finland ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

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

Hot-Rolled Steel Products Imports

Imports in Europe

In 2023, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) imported in Europe reduced slightly to X tons, approximately reflecting the year before. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, hot-rolled steel products imports contracted to $X in 2023. Total imports 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. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, Italy (X tons), followed by Germany (X tons), Spain (X tons), Poland (X tons), France (X tons), Belgium (X tons) and the Netherlands (X tons) were the major importers of flat-rolled products of iron or steel (not further worked than hot-rolled), together achieving X% of total imports. The Czech Republic (X tons), Russia (X tons), Portugal (X tons), the UK (X tons), Austria (X tons) and Hungary (X tons) followed a long way behind the leaders.

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

In value terms, the largest hot-rolled steel products importing markets in Europe were Italy ($X), Germany ($X) and France ($X), together comprising X% of total imports. Spain, Poland, Belgium, the Netherlands, the Czech Republic, the UK, Russia, Austria, Portugal and Hungary lagged somewhat behind, together accounting for a further X%.

Hungary, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Europe stood at $X per ton in 2023, which is down by X% against the previous year. Import price indicated a mild expansion 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. Based on 2023 figures, hot-rolled steel products import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then reduced in the following year.

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

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

Source: IndexBox Platform