Greece: Market for Hot-Rolled Steel Bars and Rods 2025

Market Size for Hot-Rolled Steel Bars and Rods in Greece

The Greek market for hot-rolled steel bars and rods declined notably to $X in 2021, shrinking by -24.8% against the previous year. Overall, consumption recorded a deep downturn. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Steel Bars and Rods in Greece

In value terms, hot-rolled steel bar and rod production rose sharply to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 25% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Greece

In 2021, overseas shipments of hot-rolled steel bars and rods increased by 16% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total exports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 34% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, hot-rolled steel bar and rod exports surged to $X in 2021. Over the period under review, exports posted noticeable growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X tons) was the main destination for hot-rolled steel bar and rod exports from Greece, with a 35% share of total exports. Moreover, hot-rolled steel bar and rod exports to Romania exceeded the volume sent to the second major destination, Bulgaria (X tons), threefold. Israel (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+4.7% per year) and Israel (+11.8% per year).

In value terms, Romania ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Greece, comprising 36% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 14% share of total exports. It was followed by Israel, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania totaled +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+6.3% per year) and Israel (+12.6% per year).

Export Prices by Country

In 2021, the average export price for hot-rolled steel bars and rods amounted to $X per ton, surging by 52% against the previous year. Overall, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. 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.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Romania ($X per ton) and Bulgaria ($X per ton), while the average price for exports to Israel ($X per ton) and Albania ($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 Bulgaria (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Greece

In 2021, after three years of growth, there was significant decline in supplies from abroad of hot-rolled steel bars and rods, when their volume decreased by -12.3% to X tons. In general, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +29.6% against 2017 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 18% against the previous year. Imports peaked at X tons in 2020, and then dropped in the following year.

In value terms, hot-rolled steel bar and rod imports surged to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +112.6% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) constituted the largest hot-rolled steel bar and rod supplier to Greece, with a 33% share of total imports. Moreover, hot-rolled steel bar and rod imports from Italy exceeded the figures recorded by the second-largest supplier, North Macedonia (X tons), twofold. Bulgaria (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy stood at +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: North Macedonia (+2.3% per year) and Bulgaria (+4.2% per year).

In value terms, Italy ($X) constituted the largest supplier of hot-rolled steel bars and rods to Greece, comprising 32% of total imports. The second position in the ranking was held by North Macedonia ($X), with a 15% share of total imports. It was followed by Bulgaria, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: North Macedonia (+4.4% per year) and Bulgaria (+6.0% per year).

Import Prices by Country

In 2021, the average import price for hot-rolled steel bars and rods amounted to $X per ton, picking up by 54% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Spain ($X per ton) and North Macedonia ($X per ton), while the price for Turkey ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by North Macedonia (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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