Eastern Europe: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Eastern Europe

In 2021, the East European market for hot-rolled steel bars and rods decreased by -2.1% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Steel Bars and Rods in Eastern Europe

In value terms, hot-rolled steel bar and rod production declined to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 18%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Hot-Rolled Steel Bars and Rods

Exports in Eastern Europe

In 2021, the amount of hot-rolled steel bars and rods exported in Eastern Europe expanded rapidly to X tons, growing by 6.1% on the previous year. In general, exports, however, saw a pronounced curtailment. The pace of growth was the most pronounced in 2016 when exports increased by 8% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod exports soared to $X in 2021. Overall, exports, however, continue to indicate a mild decrease. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia was the key exporting country with an export of about X tons, which amounted to 34% of total exports. Ukraine (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by the Czech Republic (13%), Poland (13%), Belarus (11%) and Bulgaria (5%). Hungary (X tons) held a relatively small share of total exports.

Russia was also the fastest-growing in terms of the hot-rolled steel bars and rods exports, with a CAGR of +7.7% from 2012 to 2021. At the same time, Hungary (+7.5%), Belarus (+3.4%) and Bulgaria (+2.1%) displayed positive paces of growth. By contrast, the Czech Republic (-3.1%), Poland (-3.3%) and Ukraine (-10.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Russia, Belarus and Bulgaria increased by +20, +4.3 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Poland ($X) and the Czech Republic ($X) were the countries with the highest levels of exports in 2021, together accounting for 61% of total exports. Ukraine, Belarus, Bulgaria and Hungary lagged somewhat behind, together comprising a further 31%.

Hungary, with a CAGR of +12.1%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, picking up by 52% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+4.3%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports in Eastern Europe

In 2021, supplies from abroad of hot-rolled steel bars and rods was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern 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.

In value terms, hot-rolled steel bar and rod imports soared to $X in 2021. In general, imports enjoyed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons) and Romania (X tons) represented roughly 43% of total imports in 2021. It was distantly followed by the Czech Republic (X tons), Slovakia (X tons), Hungary (X tons), Russia (X tons) and Lithuania (X tons), together generating a 43% share of total imports. The following importers - Ukraine (X tons) and Belarus (X tons) - each accounted for a 7.2% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Poland (with a CAGR of +12.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel bar and rod importing markets in Eastern Europe were Poland ($X), Romania ($X) and the Czech Republic ($X), together accounting for 57% of total imports.

Among the main importing countries, Poland, with a CAGR of +11.8%, 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

In 2021, the import price in Eastern Europe amounted to $X per ton, increasing by 50% against the previous year. In general, the import price saw a relatively flat trend pattern. 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 importing countries. In 2021, major importing countries recorded the following prices: in the Czech Republic ($X per ton) and Hungary ($X per ton), while Russia ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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