Portugal: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in Portugal

The Portuguese hot-rolled free-cutting steel market surged to $X in 2021, with an increase of 9,752% against the previous year. In general, consumption, however, recorded a deep setback. Hot-rolled free-cutting steel consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Production in Portugal

In value terms, hot-rolled free-cutting steel production expanded sharply to $X in 2021 estimated in export price. In general, production saw a abrupt slump. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports from Portugal

In 2021, shipments abroad of hot-rolled bars in free-cutting steels decreased by -44.7% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 681%. The exports peaked at X tons in 2020, and then shrank remarkably in the following year.

In value terms, hot-rolled free-cutting steel exports dropped sharply to $X in 2021. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 754%. Over the period under review, the exports hit record highs at $X in 2020, and then contracted remarkably in the following year.

Exports by Country

Spain (X tons) was the main destination for hot-rolled free-cutting steel exports from Portugal, accounting for a 60% share of total exports. Moreover, hot-rolled free-cutting steel exports to Spain exceeded the volume sent to the second major destination, France (X tons), fivefold. Poland (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain totaled +60.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+12.2% per year) and Poland (+16,823.8% per year).

In value terms, Poland ($X) emerged as the key foreign market for hot-rolled bars in free-cutting steels exports from Portugal, comprising 60% of total exports. The second position in the ranking was held by Spain ($X), with a 22% share of total exports. It was followed by France, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Poland stood at +19,185.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+17.2% per year) and France (-9.0% per year).

Export Prices by Country

The average hot-rolled free-cutting steel export price stood at $X per ton in 2021, growing by 26% against the previous year. Over the period under review, the export price, however, showed a deep contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Poland ($X per ton), while the average price for exports to Spain ($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 Poland (+13.8%), while the prices for the other major destinations experienced a decline.

Hot-Rolled Free-Cutting Steel Imports

Imports into Portugal

Hot-rolled free-cutting steel imports into Portugal soared to X tons in 2021, jumping by 33% compared with 2020. Over the period under review, imports recorded a slight increase. The pace of growth appeared the most rapid in 2016 with an increase of 112%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, hot-rolled free-cutting steel imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest hot-rolled free-cutting steel supplier to Portugal, with a 68% share of total imports. Moreover, hot-rolled free-cutting steel imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.6% per year) and the UK (+63.1% per year).

In value terms, Spain ($X) constituted the largest supplier of hot-rolled bars in free-cutting steels to Portugal, comprising 67% of total imports. The second position in the ranking was taken by Germany ($X), with a 29% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.4% per year) and the UK (+1.5% per year).

Import Prices by Country

In 2021, the average hot-rolled free-cutting steel import price amounted to $X per ton, rising by 48% against the previous year. In general, the import price, however, recorded a mild contraction. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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