Luxembourg: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in Luxembourg

The Luxembourg flat-rolled steel products market skyrocketed to $X in 2021, growing by 84% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw significant growth. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Flat-Rolled Steel Products Exports

Exports from Luxembourg

In 2021, the amount of flat-rolled products of iron or non-alloy steel exported from Luxembourg soared to X tons, increasing by 18% on the previous year. Over the period under review, exports, however, showed a dramatic curtailment. The pace of growth was the most pronounced in 2018 when exports increased by 42%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, flat-rolled steel products exports surged to $X in 2021. In general, exports, however, faced a significant decrease. The growth pace was the most rapid in 2018 when exports increased by 73% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X tons), France (X tons) and Belgium (X tons) were the main destinations of flat-rolled steel products exports from Luxembourg, together comprising 91% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of -20.5%), while the other leaders experienced a decline.

In value terms, France ($X), Belgium ($X) and the Czech Republic ($X) were the largest markets for flat-rolled steel products exported from Luxembourg worldwide, together comprising 98% of total exports.

France, with a CAGR of -6.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average flat-rolled steel products export price amounted to $X per ton, with an increase of 11% against the previous year. Over the period under review, the export price recorded a resilient expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 285% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the United Arab Emirates ($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 Belgium (+31.8%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Luxembourg

Flat-rolled steel products imports into Luxembourg skyrocketed to X tons in 2021, rising by 31% compared with 2020 figures. Over the period under review, imports showed resilient growth. The growth pace was the most rapid in 2013 when imports increased by 165%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, flat-rolled steel products imports surged to $X in 2021. In general, imports recorded buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by 167% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of flat-rolled steel products to Luxembourg, with a 78% share of total imports. Moreover, flat-rolled steel products imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume from Italy totaled +254.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.1% per year) and Belgium (-4.4% per year).

In value terms, Italy ($X) constituted the largest supplier of flat-rolled products of iron or non-alloy steel to Luxembourg, comprising 77% of total imports. The second position in the ranking was held by Germany ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +213.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.6% per year) and Belgium (+3.6% per year).

Import Prices by Country

The average flat-rolled steel products import price stood at $X per ton in 2021, jumping by 74% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.9% 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 country with the highest price was Belgium ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+8.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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