Eastern Europe: Iron And Steel Market 2024

Iron And Steel Market Size in Eastern Europe

In 2021, after two years of decline, there was significant growth in the East European iron and steel market, when its value increased by 24% to $X. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Iron And Steel Production in Eastern Europe

In value terms, iron and steel production surged to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Iron And Steel Exports

Exports in Eastern Europe

Iron and steel exports fell modestly to X tons in 2021, almost unchanged from the previous year. Over the period under review, exports, however, showed a mild expansion. The most prominent rate of growth was recorded in 2018 with an increase of 23%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, iron and steel exports soared to $X in 2021. Total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Russia (X tons) and Ukraine (X tons), together reaching 97% of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Ukraine (with a CAGR of +5.6%).

In value terms, the largest iron and steel supplying countries in Eastern Europe were Russia ($X) and Ukraine ($X).

Ukraine, with a CAGR of +8.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, rising by 63% against the previous year. Overall, 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.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Ukraine stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+2.6%).

Iron And Steel Imports

Imports in Eastern Europe

In 2021, purchases abroad of iron and steel was finally on the rise to reach X tons after two years of decline. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel imports skyrocketed to $X in 2021. Total imports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland represented the largest importing country with an import of about X tons, which accounted for 43% of total imports. Belarus (X tons) ranks second in terms of the total imports with a 17% share, followed by Romania (13%), the Czech Republic (12%) and Slovakia (5%). The following importers - Bulgaria (X tons) and Moldova (X tons) - together made up 5.4% of total imports.

From 2012 to 2021, average annual rates of growth with regard to iron and steel imports into Poland stood at +2.3%. At the same time, Moldova (+19.9%) and Bulgaria (+2.1%) displayed positive paces of growth. Moreover, Moldova emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +19.9% from 2012-2021. Romania and the Czech Republic experienced a relatively flat trend pattern. By contrast, Slovakia (-3.3%) and Belarus (-5.1%) illustrated a downward trend over the same period. Poland (+10 p.p.), Moldova (+2 p.p.) and Romania (+2 p.p.) significantly strengthened its position in terms of the total imports, while Belarus saw its share reduced by -8.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported iron and steel in Eastern Europe, comprising 41% of total imports. The second position in the ranking was taken by Belarus ($X), with a 17% share of total imports. It was followed by the Czech Republic, with a 16% share.

From 2012 to 2021, the average annual growth rate of value in Poland stood at +4.1%. In the other countries, the average annual rates were as follows: Belarus (-2.2% per year) and the Czech Republic (+4.4% per year).

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, jumping by 54% against the previous year. Import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. 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 by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Moldova ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform