United Kingdom - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights
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View PricingUK Sees a 27% Decline in Hot-Rolled Steel Bar and Rod Imports, Dropping to $774M in 2023
United Kingdom Hot-Rolled Steel Bar and Rod Imports
In 2023, after two years of growth, there was significant decline in supplies from abroad of hot-rolled steel bars and rods, when their volume decreased by -25.4% to 677K tons. Overall, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 31% against the previous year. As a result, imports attained the peak of 1.1M tons. From 2015 to 2023, the growth of imports failed to regain momentum.
In value terms, hot-rolled steel bar and rod imports contracted remarkably to $774M (IndexBox estimates) in 2023. Over the period under review, total imports indicated a mild increase from 2013 to 2023: its value increased at an average annual rate of +1.0% over the last decade. 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 68%. Over the period under review, imports reached the maximum at $1.1B in 2022, and then dropped sharply in the following year.
| COUNTRY | Import Value of Hot-Rolled Steel Bar and Rod in United Kingdom (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Portugal | 36.7 | 47.6 | 33.2 | 54.1 | 101 | 121 | 101 | 88.7 | 149 | 185 | 199 |
| France | 67.9 | 70.3 | 60.8 | 48.6 | 57.1 | 71.7 | 57.1 | 43.0 | 102 | 97.2 | 107 |
| Germany | 105 | 115 | 74.0 | 73.8 | 80.6 | 87.6 | 94.1 | 80.6 | 118 | 98.3 | 82.2 |
| Spain | 121 | 109 | 76.6 | 65.8 | 63.7 | 77.8 | 77.3 | 67.9 | 85.4 | 97.7 | 68.5 |
| Czech Republic | 74.4 | 66.3 | 51.8 | 31.3 | 33.9 | 43.5 | 42.8 | 31.6 | 45.0 | 57.9 | 56.2 |
| Algeria | N/A | N/A | N/A | N/A | N/A | 2.9 | N/A | 1.5 | 28.4 | 31.8 | 46.6 |
| Italy | 30.6 | 38.7 | 32.8 | 30.1 | 28.9 | 36.5 | 38.7 | 22.6 | 35.9 | 41.7 | 42.3 |
| Turkey | 61.9 | 72.4 | 14.8 | 38.0 | 60.5 | 86.9 | 53.5 | 7.3 | 50.5 | 137 | 33.5 |
| China | 34.0 | 160 | 172 | 3.7 | 4.8 | 8.9 | 7.7 | 7.4 | 3.4 | 18.3 | 18.2 |
| Others | 166 | 191 | 131 | 154 | 181 | 238 | 190 | 140 | 209 | 302 | 121 |
| Total | 698 | 871 | 647 | 499 | 612 | 775 | 662 | 491 | 826 | 1,067 | 774 |
Imports by Country
In 2023, Portugal (230K tons) constituted the largest hot-rolled steel bar and rod supplier to the UK, accounting for a 34% share of total imports. Moreover, hot-rolled steel bar and rod imports from Portugal exceeded the figures recorded by the second-largest supplier, France (85K tons), threefold. The third position in this ranking was taken by Algeria (66K tons), with a 9.7% share.
From 2013 to 2023, the average annual growth rate of volume from Portugal amounted to +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+2.5% per year) and Algeria (+78.5% per year).
In value terms, Portugal ($199M), France ($107M) and Germany ($82M) were the largest hot-rolled steel bar and rod suppliers to the UK, together accounting for 50% of total imports. Spain, the Czech Republic, Algeria, Italy, Turkey and China lagged somewhat behind, together accounting for a further 34%.
In terms of the main suppliers, Algeria, with a CAGR of +73.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Imports by Type
In 2023, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (460K tons) constituted the largest type of hot-rolled steel bars and rods supplied to the UK, with a 68% share of total imports. Moreover, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling exceeded the figures recorded for the second-largest type, iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (146K tons), threefold. The third position in this ranking was held by hot-rolled bars in bearing steels (44K tons), with a 6.5% share.
From 2013 to 2023, the average annual growth rate of the volume of iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling imports was relatively modest. With regard to the other supplied products, the following average annual rates of growth were recorded: iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (-4.7% per year) and hot-rolled bars in bearing steels (-3.2% per year).
In value terms, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling ($408M) constituted the largest type of hot-rolled steel bars and rods supplied to the UK, comprising 53% of total imports. The second position in the ranking was taken by iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($175M), with a 23% share of total imports. It was followed by hot-rolled bars in bearing steels, with a 12% share.
Import Prices by Country
In 2023, the hot-rolled steel bar and rod price stood at $1,144 per ton (CIF, United Kingdom), reducing by -2.7% against the previous year. In general, import price indicated moderate growth from 2013 to 2023: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, hot-rolled steel bar and rod import price increased by +58.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 30%. The import price peaked at $1,175 per ton in 2022, and then contracted modestly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($5,602 per ton), while the price for Algeria ($710 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Ukraine (+24.5%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in the UK. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
- Prodcom 24106120 - Wire rod of free-cutting steel
- Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
- Prodcom 24106140 - Wire rod for tyre cord
- Prodcom 24106190 - Other wire rod (of non-alloy steel)
- Prodcom 24106210 - Hot-rolled concrete reinforcing bars
- Prodcom 24106230 - Hot-rolled bars in free-cutting steels
- Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
- Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
- Prodcom 24106410 - Hot-rolled round bars, of stainless steel
- Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
- Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
- Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
- Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
- Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
- Prodcom 24106630 - Hot-rolled bars in bearing steels
- Prodcom 24106640 - Hot-rolled bars in tool steels
- Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)
Country coverage:
- United Kingdom
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the UK
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
