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

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

In 2021, the Hungarian market for hot-rolled non-alloy steel wire rods increased by 66% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Hungary

In 2021, overseas shipments of hot-rolled non-alloy steel wire rods increased by 41% to X tons, rising for the third consecutive year after three years of decline. In general, exports recorded tangible growth. The growth pace was the most rapid in 2019 with an increase of 592% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, hot-rolled non-alloy steel wire rod exports surged to $X in 2021. Over the period under review, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of 484%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Slovakia (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Hungary, with a 53% share of total exports. Moreover, hot-rolled non-alloy steel wire rod exports to Slovakia exceeded the volume sent to the second major destination, Poland (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Slovakia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+49.9% per year) and Germany (+10.5% per year).

In value terms, Slovakia ($X) remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Hungary, comprising 48% of total exports. The second position in the ranking was taken by Poland ($X), with a 22% share of total exports. It was followed by Germany, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Slovakia totaled +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+58.0% per year) and Germany (+18.4% per year).

Export Prices by Country

In 2021, the average export price for hot-rolled non-alloy steel wire rods amounted to $X per ton, surging by 63% against the previous year. Overall, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.2% 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 reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Czech Republic ($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 Germany (+7.1%), 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 Hungary

In 2021, hot-rolled non-alloy steel wire rod imports into Hungary soared to X tons, with an increase of 23% on 2020 figures. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 48% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, hot-rolled non-alloy steel wire rod imports surged to $X in 2021. In general, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Czech Republic (X tons), Italy (X tons) and Romania (X tons) were the main suppliers of hot-rolled non-alloy steel wire rod imports to Hungary, together accounting for 70% of total imports. These countries were followed by Poland, Germany, Serbia, Austria and the UK, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +99.2%), 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 Hungary were Italy ($X), the Czech Republic ($X) and Romania ($X), together accounting for 69% of total imports. Poland, Germany, Serbia, Austria and the UK lagged somewhat behind, together comprising a further 25%.

In terms of the main suppliers, Serbia, with a CAGR of +95.3%, saw 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, jumping by 61% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. 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 countries with the highest prices were the UK ($X per ton) and Germany ($X per ton), while the price for the Czech Republic ($X per ton) and Serbia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform