Greece: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Greece

In 2021, the Greek hot-rolled steel products market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Hot-Rolled Steel Products Production in Greece

In value terms, hot-rolled steel products production rose rapidly to $X in 2021 estimated in export price. Overall, production, however, recorded significant growth. The growth pace was the most rapid in 2013 with an increase of 2,080%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports from Greece

For the fifth consecutive year, Greece recorded growth in overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled), which increased by 114% to X tons in 2021. In general, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel products exports surged to $X in 2021. Overall, exports enjoyed a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for hot-rolled steel products exports from Greece, with a 54% share of total exports. Moreover, hot-rolled steel products exports to Turkey exceeded the volume sent to the second major destination, Cyprus (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey totaled +166.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+7.8% per year) and Germany (+21.6% per year).

In value terms, Turkey ($X), Cyprus ($X) and the UK ($X) constituted the largest markets for hot-rolled steel products exported from Greece worldwide, together accounting for 68% of total exports.

The UK, with a CAGR of +380.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hot-rolled steel products export price stood at $X per ton in 2021, surging by 34% against the previous year. Over the period under review, the export price, however, recorded a mild contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Greece

For the third year in a row, Greece recorded decline in overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled), which decreased by -10.2% to X tons in 2021. Over the period under review, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2016 when imports increased by 32%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, hot-rolled steel products imports surged to $X in 2021. In general, total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest hot-rolled steel products supplier to Greece, accounting for a 31% share of total imports. Moreover, hot-rolled steel products imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Turkey (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from France totaled +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+16.9% per year) and Turkey (+4.4% per year).

In value terms, France ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than hot-rolled) to Greece, comprising 32% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by Turkey, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+18.7% per year) and Turkey (+7.8% per year).

Import Prices by Country

In 2021, the average hot-rolled steel products import price amounted to $X per ton, growing by 62% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% 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.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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