Canada: Market for Raw Steel And Steel Semi-Finished Products 2025

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

The Canadian market for raw steel and steel semi-finished products was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, showed a relatively flat trend pattern. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, production of raw steel and steel semi-finished products amounted to $X in 2021 estimated in export price. Overall, production, however, saw a mild slump. The growth pace was the most rapid in 2017 when the production volume increased by 91%. Production of peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Canada

In 2021, approx. X tons of raw steel and steel semi-finished products were exported from Canada; with an increase of 140% on 2020. Overall, exports, however, recorded a noticeable reduction. Over the period under review, the exports of hit record highs 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 skyrocketed to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for exports of raw steel and steel semi-finished products from Canada, with a 91% share of total exports. Moreover, exports of raw steel and steel semi-finished products to the United States exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+87.3% per year) and Mexico (-9.6% per year).

In value terms, the United States ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Canada, comprising 89% of total exports. The second position in the ranking was held by China ($X), with a 4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+77.4% per year) and Mexico (-10.3% 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, jumping by 25% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Mexico ($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 the United States (+1.6%), while the prices for the other major destinations experienced a decline.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Canada

In 2021, imports of raw steel and steel semi-finished products into Canada skyrocketed to X tons, jumping by 98% against 2020. Over the period under review, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 104% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, imports of raw steel and steel semi-finished products surged to $X in 2021. In general, imports showed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons) constituted the largest raw steel and steel semi-finished products supplier to Canada, with a 53% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Brazil exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was held by the United States (X tons), with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil amounted to +31.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+14.9% per year) and the United States (-9.2% per year).

In value terms, Brazil ($X), Mexico ($X) and Argentina ($X) were the largest raw steel and steel semi-finished products suppliers to Canada, together accounting for 85% of total imports. The United States, Italy, Ukraine and Romania lagged somewhat behind, together comprising a further 10%.

In terms of the main suppliers, Italy, with a CAGR of +65.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for raw steel and steel semi-finished products stood at $X per ton in 2021, rising by 65% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2021: its price 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. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Argentina ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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