Romania: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Romania

The Romanian hot-rolled steel products market dropped to $X in 2021, which is down by -2.3% against the previous year. Over the period under review, consumption continues to indicate a slight setback. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Hot-Rolled Steel Products Production in Romania

In value terms, hot-rolled steel products production fell markedly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a sharp downturn. The growth pace was the most rapid in 2020 when the production volume increased by 10%. Hot-rolled steel products production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Hot-Rolled Steel Products Exports

Exports from Romania

In 2021, exports of flat-rolled products of iron or steel (not further worked than hot-rolled) from Romania skyrocketed to X tons, growing by 19% on the previous year's figure. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 34% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, hot-rolled steel products exports surged to $X in 2021. In general, exports posted resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Bulgaria (X tons) and Turkey (X tons) were the main destinations of hot-rolled steel products exports from Romania, together accounting for 43% of total exports. These countries were followed by North Macedonia, Austria, Spain, Poland, Serbia, Belgium, Greece, Slovakia and Hungary, which together accounted for a further 46%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +122.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Bulgaria ($X) and Turkey ($X) constituted the largest markets for hot-rolled steel products exported from Romania worldwide, together accounting for 43% of total exports. North Macedonia, Austria, Spain, Poland, Belgium, Serbia, Greece, Hungary and Slovakia lagged somewhat behind, together accounting for a further 45%.

Austria, with a CAGR of +115.5%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average hot-rolled steel products export price amounted to $X per ton, increasing by 75% against the previous year. In general, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Belgium ($X per ton), while the average price for exports to Austria ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Romania

In 2021, supplies from abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 37% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, hot-rolled steel products imports skyrocketed to $X in 2021. Overall, total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ukraine (X tons), Italy (X tons) and Bulgaria (X tons) were the main suppliers of hot-rolled steel products imports to Romania, together comprising 42% of total imports. These countries were followed by Slovakia, Germany, Austria, France, Kazakhstan, Poland, Turkey, India, North Macedonia and Egypt, which together accounted for a further 45%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of +28,591,231.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than hot-rolled) to Romania, comprising 31% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 13% share of total imports. It was followed by Slovakia, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+1.3% per year) and Slovakia (+5.9% per year).

Import Prices by Country

In 2021, the average hot-rolled steel products import price amounted to $X per ton, picking up by 28% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled steel products import price increased by +84.6% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+107.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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