Greece: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in Greece

In 2022, the Greek non-alloy steel u-section market increased by 3.8% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption saw a relatively flat trend pattern. Non-alloy steel u-section consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Alloy Steel U-Section Exports

Exports from Greece

In 2022, overseas shipments of u-sections of non-alloy steel increased by 114% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, faced a drastic downturn. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, non-alloy steel u-section exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 126%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cyprus (X tons), Albania (X tons) and Bulgaria (X tons) were the main destinations of non-alloy steel u-section exports from Greece, with a combined 91% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Albania (with a CAGR of +53.3%), while the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), Albania ($X) and Bulgaria ($X) appeared to be the largest markets for non-alloy steel u-section exported from Greece worldwide, with a combined 90% share of total exports.

Albania, with a CAGR of +60.7%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the average non-alloy steel u-section export price amounted to $X per ton, growing by 3% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section export price increased by +67.3% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 62% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Serbia ($X per ton) and Romania ($X per ton), while the average price for exports to Bulgaria ($X per ton) and Cyprus ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Alloy Steel U-Section Imports

Imports into Greece

In 2022, approx. X tons of u-sections of non-alloy steel were imported into Greece; dropping by -1.8% compared with the year before. Over the period under review, imports recorded a pronounced descent. The growth pace was the most rapid in 2015 when imports increased by 13% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, non-alloy steel u-section imports rose notably to $X in 2022. Overall, imports saw a mild curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 59%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of non-alloy steel u-section to Greece, accounting for a 68% share of total imports. Moreover, non-alloy steel u-section imports from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by Spain (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to +102.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+19.8% per year) and Spain (-9.4% per year).

In value terms, Turkey ($X) constituted the largest supplier of u-sections of non-alloy steel to Greece, comprising 64% of total imports. The second position in the ranking was held by Italy ($X), with a 22% share of total imports. It was followed by Spain, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +105.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+23.2% per year) and Spain (-5.9% per year).

Import Prices by Country

In 2022, the average non-alloy steel u-section import price amounted to $X per ton, jumping by 15% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section import price increased by +69.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 47%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Bulgaria ($X per ton) and Spain ($X per ton), while the price for Turkey ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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