Bulgaria: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Bulgaria

The Bulgarian market for hot-rolled non-alloy steel wire rods soared to $X in 2021, jumping by 61% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted a resilient increase. Hot-rolled non-alloy steel wire rod consumption peaked in 2021 and is likely to see gradual growth in the near future.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Bulgaria

In 2021, overseas shipments of hot-rolled non-alloy steel wire rods decreased by -42.4% to X tons, falling for the eighth year in a row after two years of growth. In general, exports continue to indicate a dramatic slump. The most prominent rate of growth was recorded in 2013 when exports increased by 4.9%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports dropped to $X in 2021. Over the period under review, exports faced a sharp contraction. The pace of growth appeared the most rapid in 2013 when exports increased by 0.5%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

North Macedonia (X tons), Greece (X tons) and Italy (X tons) were the main destinations of hot-rolled non-alloy steel wire rod exports from Bulgaria, together comprising 79% of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +198.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for hot-rolled non-alloy steel wire rod exported from Bulgaria were North Macedonia ($X), Greece ($X) and Poland ($X), together accounting for 78% of total exports. These countries were followed by Italy and Romania, which together accounted for a further 21%.

Italy, with a CAGR of +170.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, picking up by 54% against the previous year. Overall, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Poland ($X per ton) and Italy ($X per ton), while the average price for exports to North Macedonia ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Bulgaria

Hot-rolled non-alloy steel wire rod imports into Bulgaria skyrocketed to X tons in 2021, rising by 20% compared with 2020. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -8.4% against 2019 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 36%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Greece (X tons) constituted the largest hot-rolled non-alloy steel wire rod supplier to Bulgaria, accounting for a 57% share of total imports. Moreover, hot-rolled non-alloy steel wire rod imports from Greece exceeded the figures recorded by the second-largest supplier, Belarus (X tons), fourfold. Ukraine (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Greece stood at +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+145.6% per year) and Ukraine (-11.3% per year).

In value terms, Greece ($X) constituted the largest supplier of hot-rolled non-alloy steel wire rods to Bulgaria, comprising 57% of total imports. The second position in the ranking was taken by Belarus ($X), with an 11% share of total imports. It was followed by Ukraine, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Greece amounted to +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+157.2% per year) and Ukraine (-9.1% per year).

Import Prices by Country

In 2021, the average import price for hot-rolled non-alloy steel wire rods amounted to $X per ton, surging by 57% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Italy ($X per ton) and Turkey ($X per ton), while the price for Belarus ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform