Europe: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in Europe

In 2021, the Europe hot-rolled free-cutting steel market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Production in Europe

In value terms, hot-rolled free-cutting steel production expanded notably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports in Europe

In 2021, after two years of decline, there was significant growth in overseas shipments of hot-rolled bars in free-cutting steels, when their volume increased by 40% to X tons. Overall, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel exports soared to $X in 2021. In general, exports recorded a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Germany was the main exporting country with an export of about X tons, which accounted for 39% of total exports. Switzerland (X tons) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by France (19%). The following exporters - Italy (X tons), Spain (X tons), the Czech Republic (X tons) and the UK (X tons) - each finished at a 16% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +6.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Switzerland ($X) and France ($X) were the countries with the highest levels of exports in 2021, together accounting for 80% of total exports.

Among the main exporting countries, Germany, with a CAGR of +7.9%, saw the highest growth rate of the value of exports, 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 Europe stood at $X per ton in 2021, growing by 46% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Germany ($X per ton) and France ($X per ton), while the UK ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+1.8%), while the other leaders experienced more modest paces of growth.

Hot-Rolled Free-Cutting Steel Imports

Imports in Europe

In 2021, after two years of decline, there was significant growth in overseas purchases of hot-rolled bars in free-cutting steels, when their volume increased by 51% to X tons. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel imports soared to $X in 2021. Total imports indicated a modest expansion from 2012 to 2021: its value 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. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Italy (X tons) represented the major importer of hot-rolled bars in free-cutting steels, comprising 47% of total imports. It was distantly followed by Germany (X tons), the UK (X tons), Romania (X tons) and Poland (X tons), together generating a 36% share of total imports. The following importers - Spain (X tons) and France (X tons) - each recorded a 6% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to hot-rolled free-cutting steel imports into Italy stood at +5.0%. At the same time, Romania (+54.9%) and Poland (+9.5%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Europe, with a CAGR of +54.9% from 2012-2021. The UK and Spain experienced a relatively flat trend pattern. By contrast, Germany (-2.0%) and France (-7.5%) illustrated a downward trend over the same period. Italy (+12 p.p.), Romania (+6.2 p.p.) and Poland (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while France and Germany saw its share reduced by -3.5% and -6.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported hot-rolled bars in free-cutting steels in Europe, comprising 46% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by the UK, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Italy stood at +5.8%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-3.1% per year) and the UK (+0.3% per year).

Import Prices by Country

In 2021, the import price in Europe amounted to $X per ton, rising by 37% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Spain ($X per ton) and France ($X per ton), while Romania ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform