Greece: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Greece

The Greek market for raw steel and steel semi-finished products rose to $X in 2021, with an increase of 2.2% against the previous year. Overall, consumption, however, recorded a mild curtailment. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Raw Steel And Steel Semi-Finished Products in Greece

In value terms, production of raw steel and steel semi-finished products expanded to $X in 2021 estimated in export price. Over the period under review, production saw moderate growth. The pace of growth was the most pronounced in 2018 with an increase of 117%. As a result, production reached the peak level of $X. From 2019 to 2021, production of growth remained at a lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Greece

In 2021, shipments abroad of raw steel and steel semi-finished products decreased by -41.7% to X tons, falling for the third consecutive year after three years of growth. Overall, exports showed a deep downturn. The pace of growth was the most pronounced in 2016 when exports increased by 131%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of raw steel and steel semi-finished products expanded markedly to $X in 2021. In general, exports, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2016 with an increase of 109% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

North Macedonia (X tons) was the main destination for exports of raw steel and steel semi-finished products from Greece, with a 95% share of total exports. Moreover, exports of raw steel and steel semi-finished products to North Macedonia exceeded the volume sent to the second major destination, Bulgaria (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to North Macedonia stood at -12.6%.

In value terms, North Macedonia ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Greece, comprising 99% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 0.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to North Macedonia totaled +3.0%.

Export Prices by Country

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2021, increasing by 85% against the previous year. Overall, the export price posted buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Bulgaria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+17.9%).

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Greece

In 2021, overseas purchases of raw steel and steel semi-finished products increased by 6.5% to X tons, rising for the third year in a row after three years of decline. In general, imports, however, saw a deep slump. The pace of growth appeared the most rapid in 2019 when imports increased by 348% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, imports of raw steel and steel semi-finished products soared to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 175% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Bulgaria (X tons) constituted the largest raw steel and steel semi-finished products supplier to Greece, accounting for a 75% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Bulgaria exceeded the figures recorded by the second-largest supplier, the UK (X tons), eightfold. The third position in this ranking was held by Italy (X tons), with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume from Bulgaria amounted to -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+209.8% per year) and Italy (+64.5% per year).

In value terms, Bulgaria ($X) constituted the largest supplier of raw steel and steel semi-finished products to Greece, comprising 56% of total imports. The second position in the ranking was held by the UK ($X), with an 8.3% share of total imports. It was followed by Italy, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value from Bulgaria amounted to -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+161.3% per year) and Italy (+47.3% per year).

Import Prices by Country

In 2021, the average import price for raw steel and steel semi-finished products amounted to $X per ton, increasing by 32% against the previous year. In general, the import price posted a resilient expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 128%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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