Portugal: Flat-Rolled Steel Products Market 2025

Flat-Rolled Steel Products Market Size in Portugal

In 2021, the Portuguese flat-rolled steel products market increased by 6.4% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Flat-rolled steel products consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Flat-Rolled Steel Products Production in Portugal

In value terms, flat-rolled steel products production stood at $X in 2021 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.2% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 44% against the previous year. Flat-rolled steel products production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Flat-Rolled Steel Products Exports

Exports from Portugal

In 2021, the amount of flat-rolled products of iron or non-alloy steel exported from Portugal declined to X tons, with a decrease of -11.4% on the year before. Over the period under review, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2017 when exports increased by 18%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, flat-rolled steel products exports dropped slightly to $X in 2021. Overall, exports recorded a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of 19% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), Poland (X tons) and Switzerland (X tons) were the main destinations of flat-rolled steel products exports from Portugal, with a combined 97% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +405.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Poland ($X), Spain ($X) and Switzerland ($X) appeared to be the largest markets for flat-rolled steel products exported from Portugal worldwide, together accounting for 95% of total exports.

In terms of the main countries of destination, Switzerland, with a CAGR of +302.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average flat-rolled steel products export price amounted to $X per ton, surging by 7.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. The pace of growth was the most pronounced in 2018 when the average export price increased by 15% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to India ($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 India (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Portugal

In 2021, approx. X tons of flat-rolled products of iron or non-alloy steel were imported into Portugal; growing by 7.8% against the year before. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 14%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, flat-rolled steel products imports soared to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of flat-rolled steel products to Portugal, accounting for a 49% share of total imports. Moreover, flat-rolled steel products imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-4.1% per year) and China (+6.1% per year).

In value terms, Spain ($X) constituted the largest supplier of flat-rolled products of iron or non-alloy steel to Portugal, comprising 49% of total imports. The second position in the ranking was held by the Netherlands ($X), with an 18% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-4.3% per year) and China (+6.6% per year).

Import Prices by Country

The average flat-rolled steel products import price stood at $X per ton in 2021, growing by 21% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and Germany ($X per ton), while the price for China ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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