Slovakia: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Slovakia

In 2021, the Slovak hot-rolled steel products market decreased by -72.1% to $X, falling for the third year in a row after five years of growth. In general, consumption continues to indicate a abrupt contraction. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Hot-Rolled Steel Products Production in Slovakia

In value terms, hot-rolled steel products production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. Hot-rolled steel products production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports from Slovakia

In 2021, shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) was finally on the rise to reach X tons after four years of decline. The total export volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some 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 soared to $X in 2021. Over the period under review, exports recorded a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland (X tons), the Czech Republic (X tons) and Hungary (X tons) were the main destinations of hot-rolled steel products exports from Slovakia, together comprising 63% of total exports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +16.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel products exported from Slovakia were Poland ($X), the Czech Republic ($X) and Hungary ($X), together comprising 62% of total exports.

Hungary, with a CAGR of +19.7%, saw the highest growth rate of 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

The average hot-rolled steel products export price stood at $X per ton in 2021, surging by 69% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. 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 external markets. In 2021, amid the top suppliers, the countries with the highest prices were Romania ($X per ton) and Germany ($X per ton), while the average price for exports to Turkey ($X per ton) and Italy ($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 Germany (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Slovakia

After two years of decline, overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 48% to X tons in 2021. The total import volume increased at an average annual rate of +7.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel products imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Czech Republic (X tons) constituted the largest hot-rolled steel products supplier to Slovakia, with a 35% share of total imports. Moreover, hot-rolled steel products imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. Poland (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the Czech Republic amounted to +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+4.3% per year) and Poland (+8.3% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than hot-rolled) to Slovakia, comprising 32% of total imports. The second position in the ranking was held by Hungary ($X), with an 11% share of total imports. It was followed by Poland, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the Czech Republic amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+7.1% per year) and Poland (+11.3% per year).

Import Prices by Country

In 2021, the average hot-rolled steel products import price amounted to $X per ton, increasing by 47% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import 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 supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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