Norway: Market for Hot-Rolled Round Bars Of Stainless Steel 2024

Market Size for Hot-Rolled Round Bars Of Stainless Steel in Norway

The Norwegian hot-rolled round stainless steel market contracted to $X in 2021, which is down by -11.5% 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). Overall, consumption continues to indicate a pronounced decrease. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Hot-Rolled Round Bars Of Stainless Steel

Exports from Norway

In 2021, the amount of hot-rolled round bars of stainless steel exported from Norway amounted to X tons, surging by 14% on the previous year's figure. Over the period under review, exports posted a tangible expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 315%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled round stainless steel exports soared to $X in 2021. Overall, exports saw noticeable growth. The most prominent rate of growth was recorded in 2016 with an increase of 255% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons), China (X tons) and Germany (X tons) were the main destinations of hot-rolled round stainless steel exports from Norway, with a combined 80% share 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 China (with a CAGR of +158.7%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the UK ($X) and Germany ($X) appeared to be the largest markets for hot-rolled round stainless steel exported from Norway worldwide, with a combined 62% share of total exports.

China, with a CAGR of +140.9%, recorded 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

The average hot-rolled round stainless steel export price stood at $X per ton in 2021, jumping by 16% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 47%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($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 South Korea (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Round Bars Of Stainless Steel

Imports into Norway

In 2021, the amount of hot-rolled round bars of stainless steel imported into Norway declined remarkably to X tons, dropping by -23.6% compared with the previous year's figure. Overall, imports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2014 with an increase of 48%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, hot-rolled round stainless steel imports fell to $X in 2021. Over the period under review, imports recorded a noticeable decline. The pace of growth was the most pronounced in 2014 with an increase of 64% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Sweden (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of hot-rolled round stainless steel imports to Norway, with a combined 70% share of total imports. These countries were followed by the UK, Denmark, France, Taiwan (Chinese) and India, 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 Taiwan (Chinese) (with a CAGR of +60.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled round stainless steel suppliers to Norway were Sweden ($X), Germany ($X) and Italy ($X), together accounting for 70% of total imports. These countries were followed by Denmark, the UK, France, Taiwan (Chinese) and India, which together accounted for a further 24%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +58.4%, saw the highest rates of growth with regard to 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 round stainless steel import price amounted to $X per ton, picking up by 29% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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