Romania: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in Romania

The Romanian steel and iron articles market declined sharply to $X in 2022, which is down by -16% against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +33.1% against 2020 indices. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Production of Articles Of Iron Or Steel in Romania

In value terms, steel and iron articles production soared to $X in 2022 estimated in export price. Overall, production continues to indicate a drastic downturn. Steel and iron articles production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Articles Of Iron Or Steel

Exports from Romania

In 2022, after three years of decline, there was significant growth in shipments abroad of articles of iron or steel, when their volume increased by 6.8% to X tons. In general, total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 22%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, steel and iron articles exports reached $X in 2022. Overall, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +18.6% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 30% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey (X tons), Germany (X tons) and France (X tons) were the main destinations of steel and iron articles exports from Romania, together accounting for 62% of total exports. Italy, Hungary, Belgium, Slovakia, the Czech Republic and Austria lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +19.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel and iron articles exported from Romania were Germany ($X), France ($X) and Turkey ($X), with a combined 53% share of total exports. Italy, Hungary, Belgium, the Czech Republic, Austria and Slovakia lagged somewhat behind, together comprising a further 25%.

The Czech Republic, with a CAGR of +22.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average steel and iron articles export price amounted to $X per ton, with an increase of 2% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2021 an increase of 16%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Slovakia ($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 Italy (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Romania

In 2022, approx. X tons of articles of iron or steel were imported into Romania; with a decrease of -5.8% on the previous year's figure. In general, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +6.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 13% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, steel and iron articles imports fell modestly to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.6% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 31%. As a result, imports attained the peak of $X, and then reduced modestly in the following year.

Imports by Country

Turkey (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of steel and iron articles imports to Romania, with a combined 55% share of total imports. China, Austria, Poland, France, Morocco, Spain, Hungary, Russia and the Czech Republic lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +14.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steel and iron articles suppliers to Romania were Germany ($X), Italy ($X) and Turkey ($X), together accounting for 53% of total imports. China, France, Austria, Poland, Spain, Hungary, the Czech Republic, Russia and Morocco lagged somewhat behind, together comprising a further 32%.

China, with a CAGR of +18.6%, recorded the highest growth rate of 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 steel and iron articles import price amounted to $X per ton, growing by 1.5% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The pace of growth was the most pronounced in 2021 an increase of 16% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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 France ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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