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

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

In 2021, the Finnish market for hot-rolled non-alloy steel wire rods increased by 54% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Finland

In value terms, hot-rolled non-alloy steel wire rod production skyrocketed to $X in 2021 estimated in export price. In general, production, however, showed a abrupt decrease. Hot-rolled non-alloy steel wire rod production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Finland

In 2021, exports of hot-rolled non-alloy steel wire rods from Finland reduced dramatically to X tons, waning by -69.6% on the year before. In general, exports showed a sharp downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 259% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports declined significantly to $X in 2021. Overall, exports faced a dramatic contraction. The growth pace was the most rapid in 2018 when exports increased by 298% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Finland, accounting for a 73% share of total exports. Moreover, hot-rolled non-alloy steel wire rod exports to Estonia exceeded the volume sent to the second major destination, Sweden (X tons), sevenfold. Norway (X tons) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume to Estonia totaled +10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-56.4% per year) and Norway (-29.2% per year).

In value terms, Estonia ($X) remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Finland, comprising 66% of total exports. The second position in the ranking was taken by Norway ($X), with a 10% share of total exports. It was followed by Canada, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value to Estonia stood at +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-28.2% per year) and Canada (+4.4% 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, with a decrease of -10% against the previous year. Overall, the export price, however, enjoyed a mild increase. The pace of growth appeared the most rapid in 2018 an increase of 105%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Norway ($X per ton) and Canada ($X per ton), while the average price for exports to Sweden ($X per ton) and Estonia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Finland

In 2021, supplies from abroad of hot-rolled non-alloy steel wire rods increased by 1.5% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 21%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports surged to $X in 2021. In general, total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.3% 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

Germany (X tons), Norway (X tons) and Spain (X tons) were the main suppliers of hot-rolled non-alloy steel wire rod imports to Finland, together accounting for 84% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +71.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled non-alloy steel wire rod suppliers to Finland were Germany ($X), Norway ($X) and Spain ($X), with a combined 83% share of total imports.

Spain, with a CAGR of +77.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, increasing by 53% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.2% 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 origin: amid the top importers, the country with the highest price was Lithuania ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform