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

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

In 2021, after two years of decline, there was significant growth in the Danish market for hot-rolled non-alloy steel wire rods, when its value increased by 62% to $X. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Denmark

In 2021, approx. X tons of hot-rolled non-alloy steel wire rods were exported from Denmark; picking up by 23% on the previous year's figure. Overall, exports, however, saw a deep contraction. The pace of growth was the most pronounced in 2013 when exports increased by 185% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, hot-rolled non-alloy steel wire rod exports soared to $X in 2021. In general, exports, however, showed a perceptible setback. The pace of growth was the most pronounced in 2013 when exports increased by 172% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Greenland (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Denmark, accounting for a 78% share of total exports. Moreover, hot-rolled non-alloy steel wire rod exports to Greenland exceeded the volume sent to the second major destination, Norway (X tons), fourfold. The third position in this ranking was taken by Faroe Islands (X tons), with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume to Greenland totaled +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+28.3% per year) and Faroe Islands (+46.1% per year).

In value terms, Greenland ($X) remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Denmark, comprising 69% of total exports. The second position in the ranking was taken by Norway ($X), with an 18% share of total exports. It was followed by Faroe Islands, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Greenland amounted to +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+22.8% per year) and Faroe Islands (+44.3% per year).

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 29% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 31%. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Greenland ($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 (+22.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Denmark

Hot-rolled non-alloy steel wire rod imports into Denmark surged to X tons in 2021, increasing by 22% on 2020. In general, total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.0% 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 +70.2% against 2015 indices. The pace of growth appeared the most rapid in 2013 with an increase of 28% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

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

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of hot-rolled non-alloy steel wire rod to Denmark, with a 59% share of total imports. Moreover, hot-rolled non-alloy steel wire rod imports from Germany exceeded the figures recorded by the second-largest supplier, Norway (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-0.1% per year) and the Netherlands (+34.1% per year).

In value terms, Germany ($X) constituted the largest supplier of hot-rolled non-alloy steel wire rods to Denmark, comprising 58% of total imports. The second position in the ranking was held by Norway ($X), with a 24% share of total imports. It was followed by the Netherlands, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+1.9% per year) and the Netherlands (+33.9% per year).

Import Prices by Country

The average import price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, growing by 51% against the previous year. In general, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform