Norway: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2024

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Norway

In 2022, the Norwegian market for hot-rolled wire rod in coil of stainless steel increased by 155% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption recorded a buoyant expansion. Hot-rolled wire stainless steel rod consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports from Norway

In 2022, exports of hot-rolled wire rod in coil of stainless steel from Norway surged to X tons, with an increase of 38% on the year before. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 15,516% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 1,139%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Poland (X tons) was the main destination for hot-rolled wire stainless steel rod exports from Norway, accounting for a 91% share of total exports. Moreover, hot-rolled wire stainless steel rod exports to Poland exceeded the volume sent to the second major destination, Sweden (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Poland amounted to +43.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+32.3% per year) and Germany (+33.1% per year).

In value terms, Poland ($X) remains the key foreign market for hot-rolled wire rod in coil of stainless steel exports from Norway, comprising 89% of total exports. The second position in the ranking was taken by Germany ($X), with a 6.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland totaled +48.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+38.2% per year) and Sweden (+16.9% per year).

Export Prices by Country

The average export price for hot-rolled wire rod in coil of stainless steel stood at $X per ton in 2022, growing by 3.2% against the previous year. Overall, the export price, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2015 an increase of 869% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Germany ($X per ton), while the average price for exports to Sweden ($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 the UK (+38.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports into Norway

Hot-rolled wire stainless steel rod imports into Norway skyrocketed to X tons in 2022, growing by 177% against the previous year. Over the period under review, imports posted resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 405% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod imports soared to $X in 2022. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 138% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Spain (X tons) was the main hot-rolled wire stainless steel rod supplier to Norway, accounting for a 95% share of total imports. It was followed by Italy (X tons), with a 3.1% share of total imports. Sweden (X tons) ranked third in terms of total imports with a 0.8% share.

From 2012 to 2022, the average annual growth rate of volume from Spain amounted to +133.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+42.0% per year) and Sweden (-23.8% per year).

In value terms, Spain ($X) constituted the largest supplier of hot-rolled wire rod in coil of stainless steel to Norway, comprising 79% of total imports. The second position in the ranking was taken by Italy ($X), with a 17% share of total imports. It was followed by Sweden, with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +115.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+72.1% per year) and Sweden (-28.3% per year).

Import Prices by Country

In 2022, the average import price for hot-rolled wire rod in coil of stainless steel amounted to $X per ton, waning by -31.4% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 240%. The import price peaked at $X per ton in 2021, and then shrank rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Spain ($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 (+26.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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