Cyprus: Iron Bar Market 2020

Iron Bar Market Size in Cyprus

The revenue of the iron bar market in Cyprus amounted to $X in 2018, surging by X% 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). In general, iron bar consumption, however, continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2018 when the market value increased by X% year-to-year. Over the period under review, the iron bar market reached its peak figure level at $X in 2008; however, from 2009 to 2018, consumption remained at a lower figure.

Iron Bar Exports

Exports from Cyprus

In 2018, the amount of bars and rods of iron or steel (hot-rolled) exported from Cyprus amounted to X tons, declining by -X% against the previous year. Overall, iron bar exports continue to indicate a drastic shrinkage. The growth pace was the most rapid in 2008 when exports increased by X% y-o-y. In that year, iron bar exports attained their peak of X tons. From 2009 to 2018, the growth of iron bar exports failed to regain its momentum.

In value terms, iron bar exports amounted to $X in 2018. In general, iron bar exports continue to indicate a precipitous slump. The growth pace was the most rapid in 2013 when exports increased by X% y-o-y. Over the period under review, iron bar exports attained their maximum at $X in 2008; however, from 2009 to 2018, exports remained at a lower figure.

Exports by Country

In 2018, China (X tons), distantly followed by Turkey (X tons), Germany (X tons) and Italy (X tons) represented the key exporters of bars and rods of iron or steel (hot-rolled), together comprising X% of total exports. The following exporters - Japan (X tons), Russia (X tons), Spain (X tons), Ukraine (X tons), France (X tons), Poland (X tons), the Czech Republic (X tons) and South Korea (X tons) - together made up X% of total exports.

Exports from China increased at an average annual rate of +X% from 2007 to 2018. At the same time, Russia (+X%), Poland (+X%), South Korea (+X%), Japan (+X%), Spain (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. The Czech Republic and France experienced a relatively flat trend pattern. By contrast, Turkey (-X%), Germany (-X%) and Ukraine (-X%) illustrated a downward trend over the same period. While the share of China (+X p.p.) and Russia (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of Ukraine (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest iron bar markets from Cyprus were China ($X), Turkey ($X) and Germany ($X), with a combined X% share of total exports. These countries were followed by Italy, Japan, Russia, Spain, France, Ukraine, South Korea, the Czech Republic, Poland and Cyprus, which together accounted for a further X recorded the highest rates of growth with regard to exports, in terms of the main exporting countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The iron bar export price in Cyprus stood at $X per ton in 2018, shrinking by -X% against the previous year. In general, the iron bar export price continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2015 an increase of X% year-to-year. Cyprus export price peaked at $X per ton in 2007; however, from 2008 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Japan, while the other leaders experienced more modest paces of growth.

Iron Bar Imports

Imports into Cyprus

In 2018, approx. X tons of bars and rods of iron or steel (hot-rolled) were imported into Cyprus; increasing by X% against the previous year. Over the period under review, iron bar imports, however, continue to indicate a measured decline. The pace of growth appeared the most rapid in 2018 when imports increased by X% y-o-y. Over the period under review, iron bar imports attained their peak figure at X tons in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

In value terms, iron bar imports stood at $X in 2018. Over the period under review, iron bar imports, however, continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2018 when imports increased by X% y-o-y. Over the period under review, iron bar imports reached their maximum at $X in 2008; however, from 2009 to 2018, imports failed to regain their momentum.

Imports by Country

In 2018, Germany (X tons) and the U.S. (X tons) represented the largest importers of bars and rods of iron or steel (hot-rolled)in the world, together making up X% of total imports. South Korea (X tons), the Netherlands (X tons), Italy (X tons), Thailand (X tons), France (X tons), Singapore (X tons), Belgium (X tons), Poland (X tons), China, Hong Kong SAR (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Malaysia, while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the U.S. ($X) and Italy ($X) appeared to be the countries with the highest levels of imports in 2018, with a combined X% share of total imports. Thailand, South Korea, France, the Netherlands, Poland, Belgium, Singapore, Malaysia, China, Hong Kong SAR and Cyprus lagged somewhat behind, together comprising a further X experienced the highest growth rate of imports, in terms of the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the iron bar import price in Cyprus amounted to $X per ton, jumping by X% against the previous year. Overall, the iron bar import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 when the import price increased by X% against the previous year. In that year, the import prices for bars and rods of iron or steel (hot-rolled) attained their peak level of $X per ton. From 2009 to 2018, the growth in terms of the import prices for bars and rods of iron or steel (hot-rolled) remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Italy ($X per ton), while China, Hong Kong SAR ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform