Canada: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in Canada

After two years of decline, the Canadian flat-rolled steel products market increased by 68% to $X in 2021. The market value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Flat-Rolled Steel Products Production in Canada

In value terms, flat-rolled steel products production expanded to $X in 2021 estimated in export price. In general, production, however, saw a pronounced setback. The pace of growth was the most pronounced in 2017 with an increase of 3.9% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Flat-Rolled Steel Products Exports

Exports from Canada

In 2021, overseas shipments of flat-rolled products of iron or non-alloy steel decreased by -16.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 16% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, flat-rolled steel products exports dropped to $X in 2021. In general, exports recorded a perceptible setback. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year. Over the period under review, the exports hit record highs 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 flat-rolled steel products exports from Canada, with a approx. 95% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -2.8%.

In value terms, the United States ($X) also remains the key foreign market for flat-rolled products of iron or non-alloy steel exports from Canada.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -3.3%.

Export Prices by Country

In 2021, the average flat-rolled steel products export price amounted to $X per ton, surging by 11% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -0.4% per year.

Flat-Rolled Steel Products Imports

Imports into Canada

In 2021, purchases abroad of flat-rolled products of iron or non-alloy steel increased by 38% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.3% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 49% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, flat-rolled steel products imports soared to $X in 2021. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by 36%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

Imports by Country

The United States (X tons), Germany (X tons) and China (X tons) were the main suppliers of flat-rolled steel products imports to Canada, with a combined 93% share of total imports. These countries were followed by Japan and Costa Rica, which together accounted for a further 5.4%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Costa Rica (with a CAGR of +733.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) constituted the largest flat-rolled steel products suppliers to Canada, together comprising 91% of total imports. These countries were followed by Japan and Costa Rica, which together accounted for a further 6.1%.

Among the main suppliers, Costa Rica, with a CAGR of +655.2%, recorded 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 flat-rolled steel products import price stood at $X per ton in 2021, dropping by -5.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 26%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Costa Rica ($X per ton), while the price for the United States ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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