Eastern Europe: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Eastern Europe

The East European market for raw steel and steel semi-finished products shrank modestly to $X in 2021, with a decrease of -2.1% against the previous year. Overall, consumption saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 7.8%. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Raw Steel And Steel Semi-Finished Products in Eastern Europe

In value terms, production of raw steel and steel semi-finished products expanded slightly to $X in 2021 estimated in export price. In general, production, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2018 when the production volume increased by 15%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports in Eastern Europe

In 2021, overseas shipments of raw steel and steel semi-finished products were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 18%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of raw steel and steel semi-finished products soared to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia represented the largest exporter of raw steel and steel semi-finished products in Eastern Europe, with the volume of exports amounting to X tons, which was near 65% of total exports in 2021. It was distantly followed by Ukraine (X tons), creating a 28% share of total exports. The following exporters - Poland (X tons) and Romania (X tons) - each finished at a 3.3% share of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of raw steel and steel semi-finished products. At the same time, Romania (+7.4%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +7.4% from 2012-2021. By contrast, Poland (-3.9%) and Ukraine (-4.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Russia increased by +9.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest raw steel and steel semi-finished products supplier in Eastern Europe, comprising 65% of total exports. The second position in the ranking was held by Ukraine ($X), with a 26% share of total exports. It was followed by Poland, with a 2.3% share.

In Russia, exports of raw steel and steel semi-finished products expanded at an average annual rate of +1.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Ukraine (-3.5% per year) and Poland (-1.4% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, rising by 59% against the previous year. Export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Romania ($X per ton), while Ukraine ($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 (+2.6%), while the other leaders experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports in Eastern Europe

In 2021, overseas purchases of raw steel and steel semi-finished products were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 48%. Over the period under review, imports of reached the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of raw steel and steel semi-finished products skyrocketed to $X in 2021. Over the period under review, imports saw a slight expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X tons), distantly followed by the Czech Republic (X tons), Bulgaria (X tons) and Romania (X tons) were the major importers of raw steel and steel semi-finished products, together comprising 95% of total imports. Ukraine (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bulgaria (with a CAGR of +7.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Bulgaria ($X) were the countries with the highest levels of imports in 2021, together comprising 80% of total imports.

Bulgaria, with a CAGR of +8.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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, picking up by 49% against the previous year. Import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Ukraine ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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