Portugal: Market for Raw Steel And Steel Semi-Finished Products 2025

Market Size for Raw Steel And Steel Semi-Finished Products in Portugal

The Portuguese market for raw steel and steel semi-finished products shrank to $X in 2021, which is down by -13.5% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Raw Steel And Steel Semi-Finished Products in Portugal

In value terms, production of raw steel and steel semi-finished products reduced slightly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 33%. Over the period under review, production of attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Portugal

In 2021, overseas shipments of raw steel and steel semi-finished products were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of raw steel and steel semi-finished products surged to $X in 2021. Over the period under review, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Morocco (X tons) was the main destination for exports of raw steel and steel semi-finished products from Portugal, with a 82% share of total exports. Moreover, exports of raw steel and steel semi-finished products to Morocco exceeded the volume sent to the second major destination, Tunisia (X tons), ninefold. Canada (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to Morocco stood at +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (-18.2% per year) and Canada (+1,888.1% per year).

In value terms, Morocco ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Portugal, comprising 78% of total exports. The second position in the ranking was held by Tunisia ($X), with a 7.9% share of total exports. It was followed by Spain, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Morocco stood at +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (-10.8% per year) and Spain (+0.6% per year).

Export Prices by Country

In 2021, the average export price for raw steel and steel semi-finished products amounted to $X per ton, growing by 35% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per ton), while the average price for exports to Tunisia ($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 Tunisia (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Portugal

In 2021, purchases abroad of raw steel and steel semi-finished products increased by 43% to X tons, rising for the second consecutive year after three years of decline. Overall, imports continue to indicate a resilient increase. The growth pace was the most rapid in 2013 when imports increased by 105% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of raw steel and steel semi-finished products soared to $X in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +67.8% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The UK (X tons), Spain (X tons) and Italy (X tons) were the main suppliers of imports of raw steel and steel semi-finished products to Portugal, with a combined 73% share of total imports. France, Canada, Germany and Sweden lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +327.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of raw steel and steel semi-finished products to Portugal, comprising 47% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by Spain, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+24.5% per year) and Spain (-3.1% per year).

Import Prices by Country

In 2021, the average import price for raw steel and steel semi-finished products amounted to $X per ton, picking up by 17% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 49% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Spain ($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 (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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