Scandinavia: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Scandinavia

The Scandinavia hot-rolled steel products market shrank to $X in 2023, declining by X% against the previous year. The total consumption indicated strong growth 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 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 Scandinavia

In value terms, hot-rolled steel products production surged to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Hot-Rolled Steel Products Exports

Exports in Scandinavia

In 2023, after three years of growth, there was significant decline in shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled), when their volume decreased by X% to X tons. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2022, and then shrank in the following year.

In value terms, hot-rolled steel products exports fell to $X in 2023. Total exports indicated a moderate 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. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2022, and then shrank in the following year.

Exports by Country

Sweden was the largest exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Finland (X tons), comprising a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Sweden (with a CAGR of X%).

In value terms, the largest hot-rolled steel products supplying countries in Scandinavia were Sweden ($X) and Finland ($X).

Sweden, 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.

Export Prices by Country

In 2023, the export price in Scandinavia amounted to $X per ton, waning by X% against the previous year. Export price indicated a slight increase 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 pace of growth appeared 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 declined in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Sweden amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Finland (X%).

Hot-Rolled Steel Products Imports

Imports in Scandinavia

After two years of growth, purchases abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) decreased by X% to X tons in 2023. In general, imports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2023, the growth of imports failed to regain momentum.

In value terms, hot-rolled steel products imports dropped markedly to $X in 2023. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The level of import peaked at $X in 2022, and then reduced sharply in the following year.

Imports by Country

Sweden represented the main importer of flat-rolled products of iron or steel (not further worked than hot-rolled) in Scandinavia, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. Finland (X tons) ranks second in terms of the total imports with a X% share, followed by Norway (X%).

Sweden was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than hot-rolled) imports, with a CAGR of X% from 2012 to 2023. Finland (X%) and Norway (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Sweden increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than hot-rolled) in Scandinavia, comprising X% of total imports. The second position in the ranking was taken by Finland ($X), with a X% share of total imports.

In Sweden, hot-rolled steel products imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Finland (X% per year) and Norway (X% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2023, reducing by X% against the previous year. Import price indicated noticeable 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, hot-rolled steel products import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. 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, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform