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

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

In 2021, the Greek market for hot-rolled non-alloy steel wire rods decreased by -33.9% to $X, falling for the second consecutive year after two years of growth. Overall, consumption showed a abrupt downturn. Hot-rolled non-alloy steel wire rod consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

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

In value terms, hot-rolled non-alloy steel wire rod production rose rapidly to $X in 2021 estimated in export price. Overall, production recorded a deep contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 9.8%. 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 Non-Alloy Steel Wire Rods

Exports from Greece

In 2021, the amount of hot-rolled non-alloy steel wire rods exported from Greece skyrocketed to X tons, jumping by 34% on the previous year. Overall, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 102%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, hot-rolled non-alloy steel wire rod exports soared to $X in 2021. Over the period under review, exports continue to indicate strong growth. The growth pace was the most rapid in 2017 when exports increased by 141% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Romania (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Greece, accounting for a 40% share of total exports. Moreover, hot-rolled non-alloy steel wire rod exports to Romania exceeded the volume sent to the second major destination, Israel (X tons), twofold. The third position in this ranking was taken by Bulgaria (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Romania stood at +27.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+28.4% per year) and Bulgaria (+6.8% per year).

In value terms, Romania ($X) remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Greece, comprising 41% of total exports. The second position in the ranking was held by Israel ($X), with a 17% share of total exports. It was followed by Bulgaria, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Romania totaled +29.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+28.8% per year) and Bulgaria (+8.7% 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, rising by 51% against the previous year. In general, export price indicated slight 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 attained 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 Kosovo ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Israel ($X per ton) and Cyprus ($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 Kosovo (+66.3%), 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 Greece

Hot-rolled non-alloy steel wire rod imports into Greece soared to X tons in 2021, growing by 22% against the year before. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 28% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, hot-rolled non-alloy steel wire rod imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. 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

Russia (X tons), Spain (X tons) and Bulgaria (X tons) were the main suppliers of hot-rolled non-alloy steel wire rod imports to Greece, with a combined 68% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +37.9%), 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 Greece were Russia ($X), Spain ($X) and Bulgaria ($X), together comprising 70% of total imports.

Among the main suppliers, Russia, with a CAGR of +56.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for hot-rolled non-alloy steel wire rods amounted to $X per ton, with an increase of 63% against the previous year. In general, import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% 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 reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Bosnia and Herzegovina ($X per ton) and Turkey ($X per ton), while the price for Algeria ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform