Hungary: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Hungary

In 2022, the Hungarian cold-rolled steel products market increased by 5.4% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, showed a significant expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Cold-Rolled Steel Products Production in Hungary

In value terms, cold-rolled steel products production fell sharply to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 44%. As a result, production attained the peak level of $X, and then contracted dramatically in the following year.

Cold-Rolled Steel Products Exports

Exports from Hungary

In 2022, approx. X tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were exported from Hungary; with a decrease of -18.9% compared with 2021 figures. In general, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 18%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, cold-rolled steel products exports fell to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 51%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Slovakia (X tons), Poland (X tons) and Germany (X tons) were the main destinations of cold-rolled steel products exports from Hungary, together comprising 67% of total exports. The Czech Republic, Austria, Slovenia, Serbia, Croatia and Bulgaria lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +8.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cold-rolled steel products exported from Hungary were Slovakia ($X), Germany ($X) and Poland ($X), together accounting for 70% of total exports. The Czech Republic, Austria, Slovenia, Serbia, Croatia and Bulgaria lagged somewhat behind, together accounting for a further 26%.

Austria, with a CAGR of +13.8%, 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

In 2022, the average cold-rolled steel products export price amounted to $X per ton, surging by 6.9% against the previous year. Overall, the export price recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 90%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Hungary

In 2022, approx. X tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were imported into Hungary; with a decrease of -16.4% compared with the previous year. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +21.7% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 46% against the previous year. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, cold-rolled steel products imports contracted slightly to $X in 2022. In general, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 89% against the previous year. As a result, imports attained the peak of $X, and then declined slightly in the following year.

Imports by Country

Germany (X tons), Slovakia (X tons) and Serbia (X tons) were the main suppliers of cold-rolled steel products imports to Hungary, with a combined 55% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +229.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to Hungary, comprising 30% of total imports. The second position in the ranking was held by Slovakia ($X), with a 13% share of total imports. It was followed by Italy, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+8.0% per year) and Italy (+1.2% per year).

Import Prices by Country

The average cold-rolled steel products import price stood at $X per ton in 2022, surging by 18% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products import price increased by +42.3% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 30%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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