Portugal: Metal Chain Market 2024

Metal Chain Market Size in Portugal

After two years of decline, the Portuguese metal chain market increased by 1.1% to $X in 2022. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Metal chain consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Metal Chain Production in Portugal

In value terms, metal chain production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 32%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Metal Chain Exports

Exports from Portugal

In 2022, overseas shipments of iron or steel chain increased by 8% to X tons, rising for the third year in a row after three years of decline. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 119% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, metal chain exports declined modestly to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 93% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Sudan (X tons) was the main destination for metal chain exports from Portugal, accounting for a 46% share of total exports. Moreover, metal chain exports to Sudan exceeded the volume sent to the second major destination, Angola (X tons), threefold. The third position in this ranking was taken by Algeria (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sudan totaled +37.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-9.0% per year) and Algeria (+38.5% per year).

In value terms, Germany ($X) remains the key foreign market for iron or steel chain exports from Portugal, comprising 39% of total exports. The second position in the ranking was taken by Angola ($X), with a 19% share of total exports. It was followed by Sudan, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-9.7% per year) and Sudan (+39.5% per year).

Export Prices by Country

The average metal chain export price stood at $X per ton in 2022, dropping by -7.8% against the previous year. Overall, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal chain export price decreased by -15.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 82% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Djibouti ($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 Equatorial Guinea (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Chain Imports

Imports into Portugal

In 2022, overseas purchases of iron or steel chain increased by 4.2% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +9.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -25.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 156%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, metal chain imports dropped slightly to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +9.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -0.4% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 135% against the previous year. Imports peaked at $X in 2019; afterwards, it flattened through to 2022.

Imports by Country

China (X tons), Spain (X tons) and Germany (X tons) were the main suppliers of metal chain imports to Portugal, with a combined 83% share of total imports. Italy, Turkey, the Netherlands, France and Finland lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +98.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal chain suppliers to Portugal were Spain ($X), China ($X) and Italy ($X), together accounting for 79% of total imports. Germany, Turkey, France, the Netherlands and Finland lagged somewhat behind, together comprising a further 19%.

Turkey, with a CAGR of +102.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal chain import price amounted to $X per ton, waning by -4.1% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 44%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+35.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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