Norway: Hot-Rolled Free-Cutting Steel Market 2025

Hot-Rolled Free-Cutting Steel Market Size in Norway

The Norwegian hot-rolled free-cutting steel market reduced sharply to $X in 2021, declining by -97.7% against the previous year. Overall, consumption faced a sharp reduction. Hot-rolled free-cutting steel consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Production in Norway

In value terms, hot-rolled free-cutting steel production rose remarkably to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 40% against the previous year. Hot-rolled free-cutting steel production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Hot-Rolled Free-Cutting Steel Exports

Exports from Norway

In 2021, the amount of hot-rolled bars in free-cutting steels exported from Norway skyrocketed to X tons, jumping by 2,149% on 2020. Over the period under review, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled free-cutting steel exports skyrocketed to $X in 2021. Overall, exports recorded significant growth. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for hot-rolled free-cutting steel exports from Norway, accounting for a 66% share of total exports. Moreover, hot-rolled free-cutting steel exports to Italy exceeded the volume sent to the second major destination, Iceland (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Italy amounted to +62.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (+43.4% per year) and Germany (+29.3% per year).

In value terms, Italy ($X) remains the key foreign market for hot-rolled bars in free-cutting steels exports from Norway, comprising 95% of total exports. The second position in the ranking was taken by Iceland ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Italy stood at +58.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (+18.3% per year) and Germany (+4.5% per year).

Export Prices by Country

In 2021, the average hot-rolled free-cutting steel export price amounted to $X per ton, with an increase of 5.9% against the previous year. Over the period under review, the export price, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 121%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Iceland ($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 the United States (+49.0%), while the prices for the other major destinations experienced a decline.

Hot-Rolled Free-Cutting Steel Imports

Imports into Norway

In 2021, supplies from abroad of hot-rolled bars in free-cutting steels increased by 493% to X tons, rising for the second year in a row after two years of decline. Overall, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,729%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, hot-rolled free-cutting steel imports surged to $X in 2021. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 1,626% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Lithuania (X tons), the United States (X tons) and Denmark (X kg) were the main suppliers of hot-rolled free-cutting steel imports to Norway, with a combined 76% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +96.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Denmark ($X) and the United States ($X) constituted the largest hot-rolled free-cutting steel suppliers to Norway, together comprising 54% of total imports. Belgium, Germany and China lagged somewhat behind, together accounting for a further 13%.

Among the main suppliers, Germany, with a CAGR of +64.3%, 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 hot-rolled free-cutting steel import price amounted to $X per ton, which is down by -37.6% against the previous year. In general, the import price, however, continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2019 an increase of 196%. Over the period under review, average import prices attained the peak figure at $X per ton in 2020, and then reduced remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+7,144.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :