Scandinavia: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Scandinavia

The Scandinavia hot-rolled steel products market reduced dramatically to $X in 2021, waning by -15.8% against the previous year. Over the period under review, consumption continues to indicate a mild descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Hot-Rolled Steel Products Production in Scandinavia

In value terms, hot-rolled steel products production declined remarkably to $X in 2021 estimated in export price. In general, production continues to indicate a deep slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by 22% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Hot-Rolled Steel Products Exports

Exports in Scandinavia

In 2021, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 18% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel products exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden was the largest exporting country with an export of around X tons, which accounted for 69% of total exports. It was distantly followed by Finland (X tons), achieving a 31% share of total exports.

Sweden was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than hot-rolled) exports, with a CAGR of +3.8% from 2012 to 2021. Finland (-1.8%) illustrated a downward trend over the same period. Sweden (+12 p.p.) significantly strengthened its position in terms of the total exports, while Finland saw its share reduced by -11.4% from 2012 to 2021, respectively.

In value terms, Sweden ($X) remains the largest hot-rolled steel products supplier in Scandinavia, comprising 68% of total exports. The second position in the ranking was held by Finland ($X), with a 32% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Sweden amounted to +3.4%.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, rising by 26% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Sweden stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+1.8%).

Hot-Rolled Steel Products Imports

Imports in Scandinavia

In 2021, overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 5.1% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, showed a mild setback. The pace of growth appeared the most rapid in 2017 when imports increased by 24% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled steel products imports skyrocketed to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The level of import peaked at $X in 2018; afterwards, it flattened through to 2021.

Imports by Country

Sweden represented the main importing country with an import of around X tons, which recorded 61% of total imports. Finland (X tons) held a 24% share (based on physical terms) of total imports, which put it in second place, followed by Norway (15%).

Sweden was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than hot-rolled) imports, with a CAGR of -1.0% from 2012 to 2021. Finland (-1.2%) and Norway (-3.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sweden increased by +2.2 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X), Finland ($X) and Norway ($X) constituted the countries with the highest levels of imports in 2021.

In terms of the main importing countries, Finland, with a CAGR of +1.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, increasing by 37% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Finland ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform