Belarus: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Belarus

The Belarusian market for raw steel and steel semi-finished products was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, showed a mild downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Raw Steel And Steel Semi-Finished Products in Belarus

In value terms, production of raw steel and steel semi-finished products rose notably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 36% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Belarus

In 2021, shipments abroad of raw steel and steel semi-finished products decreased by -32.8% to X tons, falling for the second consecutive year after three years of growth. Overall, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 117% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of raw steel and steel semi-finished products rose remarkably to $X in 2021. In general, exports saw a abrupt decline. The pace of growth was the most pronounced in 2017 when exports increased by 170%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Tunisia (X tons) was the main destination for exports of raw steel and steel semi-finished products from Belarus, with a 58% share of total exports. Moreover, exports of raw steel and steel semi-finished products to Tunisia exceeded the volume sent to the second major destination, Egypt (X tons), fivefold. The third position in this ranking was taken by Brazil (X tons), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume to Tunisia totaled +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-12.7% per year) and Brazil (0.0% per year).

In value terms, Tunisia ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Belarus, comprising 57% of total exports. The second position in the ranking was taken by Egypt ($X), with a 13% share of total exports. It was followed by Brazil, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value to Tunisia totaled +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-11.2% per year) and Brazil (0.0% per year).

Export Prices by Country

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2021, surging by 65% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to Algeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+44.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Belarus

In 2021, supplies from abroad of raw steel and steel semi-finished products was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2013 with an increase of 680%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of raw steel and steel semi-finished products soared to $X in 2021. Overall, imports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 273%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, Russia (X tons) constituted the largest raw steel and steel semi-finished products supplier to Belarus, with a 79% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+55.9% per year) and the Czech Republic (+165.1% per year).

In value terms, Russia ($X) constituted the largest supplier of raw steel and steel semi-finished products to Belarus, comprising 79% of total imports. The second position in the ranking was held by Germany ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia totaled -6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+44.9% per year) and the Czech Republic (+101.1% per year).

Import Prices by Country

The average import price for raw steel and steel semi-finished products stood at $X per ton in 2021, increasing by 12% against the previous year. Overall, the import price, however, saw a mild descent. The most prominent rate of growth was recorded in 2019 an increase of 94% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Czech Republic ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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