Czech Republic: Iron And Steel Market 2024

Iron And Steel Market Size in the Czech Republic

The Czech iron and steel market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Iron and steel consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Iron And Steel Production in the Czech Republic

In value terms, iron and steel production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. Iron and steel production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Iron And Steel Exports

Exports from the Czech Republic

Iron and steel exports from the Czech Republic soared to X tons in 2021, increasing by 60% compared with 2020. In general, exports, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of 353%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, iron and steel exports surged to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 361%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons) was the main destination for iron and steel exports from the Czech Republic, with a 84% share of total exports. Moreover, iron and steel exports to Poland exceeded the volume sent to the second major destination, Slovakia (X tons), ninefold. The third position in this ranking was taken by Italy (X tons), with a 3.3% share.

From 2012 to 2021, the average annual growth rate of volume to Poland totaled +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+1.7% per year) and Italy (-28.0% per year).

In value terms, Poland ($X) remains the key foreign market for iron and steel exports from the Czech Republic, comprising 83% of total exports. The second position in the ranking was taken by Slovakia ($X), with an 8.6% share of total exports. It was followed by Italy, with a 3% share.

From 2012 to 2021, the average annual growth rate of value to Poland stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+1.3% per year) and Italy (-26.6% per year).

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, with an increase of 37% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Italy ($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 Germany (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Iron And Steel Imports

Imports into the Czech Republic

In 2021, purchases abroad of iron and steel was finally on the rise to reach X tons after two years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel imports skyrocketed to $X in 2021. Overall, total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X tons) constituted the largest supplier of iron and steel to the Czech Republic, with a 51% share of total imports. Moreover, iron and steel imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Poland stood at +36.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.4% per year) and Italy (+22.2% per year).

In value terms, Poland ($X) constituted the largest supplier of iron and steel to the Czech Republic, comprising 54% of total imports. The second position in the ranking was held by Germany ($X), with a 21% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Poland totaled +44.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.0% per year) and Italy (+26.5% per year).

Import Prices by Country

The average iron and steel import price stood at $X per ton in 2021, jumping by 53% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron and steel import price increased by +147.4% against 2016 indices. 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 countries with the highest prices were Italy ($X per ton) and Poland ($X per ton), while the price for Russia ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform