Scandinavia: Market for Hot-Rolled Steel Bars and Rods 2025

Market Size for Hot-Rolled Steel Bars and Rods in Scandinavia

The Scandinavia market for hot-rolled steel bars and rods soared to $X in 2021, rising by 19% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Hot-Rolled Steel Bars and Rods in Scandinavia

In value terms, hot-rolled steel bar and rod production expanded modestly to $X in 2021 estimated in export price. In general, production continues to indicate a slight contraction. The growth pace was the most rapid in 2018 with an increase of 18% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Steel Bars and Rods

Exports in Scandinavia

In 2021, after three years of decline, there was growth in shipments abroad of hot-rolled steel bars and rods, when their volume increased by 3% to X tons. Overall, exports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 5.4%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled steel bar and rod exports surged to $X in 2021. In general, exports, however, recorded a mild curtailment. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Norway (X tons) was the largest exporter of hot-rolled steel bars and rods, comprising 44% of total exports. Sweden (X tons) ranks second in terms of the total exports with a 25% share, followed by Finland (18%) and Denmark (13%).

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of -0.1%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) constituted the countries with the highest levels of exports in 2021, together comprising 89% of total exports.

Norway, with a CAGR of +2.0%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, picking up by 42% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+2.7%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports in Scandinavia

In 2021, hot-rolled steel bar and rod imports in Scandinavia was estimated at X tons, increasing by 15% compared with the year before. The total import volume increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel bar and rod imports soared to $X in 2021. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.2% 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

Sweden represented the main importer of hot-rolled steel bars and rods in Scandinavia, with the volume of imports finishing at X tons, which was approx. 43% of total imports in 2021. Finland (X tons) took a 26% share (based on physical terms) of total imports, which put it in second place, followed by Denmark (20%) and Norway (9.9%). Iceland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iceland (with a CAGR of +7.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel bar and rod importing markets in Scandinavia were Sweden ($X), Finland ($X) and Denmark ($X), together comprising 89% of total imports. Norway and Iceland lagged somewhat behind, together comprising a further 11%.

Iceland, with a CAGR of +5.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, growing by 41% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Denmark ($X per ton) and Sweden ($X per ton), while Iceland ($X per ton) and Finland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform