Benelux: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in Benelux

The Benelux hot-rolled free-cutting steel market reduced slightly to $X in 2021, falling by -5% against the previous year. In general, consumption, however, continues to indicate a pronounced decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Hot-Rolled Free-Cutting Steel Production in Benelux

In value terms, hot-rolled free-cutting steel production declined notably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 55% against the previous year. As a result, production reached the peak level of $X, and then declined significantly in the following year.

Hot-Rolled Free-Cutting Steel Exports

Exports in Benelux

Hot-rolled free-cutting steel exports surged to X tons in 2021, increasing by 67% on 2020 figures. Over the period under review, exports saw a prominent increase. The pace of growth appeared the most rapid in 2013 when exports increased by 96% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, hot-rolled free-cutting steel exports skyrocketed to $X in 2021. Overall, exports posted a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium represented the key exporting country with an export of around X tons, which finished at 64% of total exports. It was distantly followed by the Netherlands (X tons), creating a 36% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Netherlands (with a CAGR of +22.6%).

In value terms, the largest hot-rolled free-cutting steel supplying countries in Benelux were the Netherlands ($X) and Belgium ($X).

The Netherlands, with a CAGR of +31.6%, saw 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

The export price in Benelux stood at $X per ton in 2021, jumping by 76% against the previous year. In general, the export price showed 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.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while Belgium totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.4%).

Hot-Rolled Free-Cutting Steel Imports

Imports in Benelux

In 2021, overseas purchases of hot-rolled bars in free-cutting steels increased by 70% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, saw a pronounced descent. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, hot-rolled free-cutting steel imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands represented the major importing country with an import of around X tons, which finished at 65% of total imports. It was distantly followed by Belgium (X tons), making up a 31% share of total imports. Luxembourg (X tons) followed a long way behind the leaders.

The Netherlands experienced a relatively flat trend pattern with regard to volume of imports of hot-rolled bars in free-cutting steels. At the same time, Luxembourg (+57.8%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing importer imported in Benelux, with a CAGR of +57.8% from 2012-2021. By contrast, Belgium (-7.1%) illustrated a downward trend over the same period. While the share of the Netherlands (+11 p.p.) and Luxembourg (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Belgium (-15.2 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) constitutes the largest market for imported hot-rolled bars in free-cutting steels in Benelux, comprising 73% of total imports. The second position in the ranking was taken by Belgium ($X), with a 25% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the Netherlands totaled +2.2%. In the other countries, the average annual rates were as follows: Belgium (-5.8% per year) and Luxembourg (+37.9% per year).

Import Prices by Country

In 2021, the import price in Benelux amounted to $X per ton, surging by 8% against the previous year. Import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled free-cutting steel import price increased by +74.9% against 2016 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by 45%. The level of import peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform