Slovakia: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2024

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Slovakia

The Slovak market for hot-rolled wire rod in coil of stainless steel skyrocketed to $X in 2022, jumping by 112% against the previous year. Over the period under review, consumption continues to indicate a resilient increase. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Slovakia

In value terms, hot-rolled wire stainless steel rod production reduced slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a slight slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 5.2%. Hot-rolled wire stainless steel rod production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports from Slovakia

In 2022, shipments abroad of hot-rolled wire rod in coil of stainless steel increased by 4,840% to X kg, rising for the third consecutive year after three years of decline. In general, exports continue to indicate a significant expansion. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled wire stainless steel rod exports skyrocketed to $X in 2022. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 49,400%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Hungary (X kg) was the main destination for hot-rolled wire stainless steel rod exports from Slovakia, accounting for a 81% share of total exports. Moreover, hot-rolled wire stainless steel rod exports to Hungary exceeded the volume sent to the second major destination, Germany (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hungary stood at +69.9%.

In value terms, Hungary ($X) and Germany ($X) were the largest markets for hot-rolled wire stainless steel rod exported from Slovakia worldwide.

Hungary, with a CAGR of +88.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average export price for hot-rolled wire rod in coil of stainless steel amounted to $X per ton, dropping by -85.9% against the previous year. Overall, the export price, however, continues to indicate prominent growth. The pace of growth appeared the most rapid in 2021 when the average export price increased by 9,800% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Hungary totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+11.2%).

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports into Slovakia

In 2022, the amount of hot-rolled wire rod in coil of stainless steel imported into Slovakia surged to X tons, rising by 204% compared with the year before. Overall, imports saw significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 438,021% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, hot-rolled wire stainless steel rod imports skyrocketed to $X in 2022. In general, imports, however, showed a noticeable reduction. The growth pace was the most rapid in 2013 when imports increased by 852% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X tons), the Czech Republic (X tons) and India (X kg) were the main suppliers of hot-rolled wire stainless steel rod imports to Slovakia, with a combined 83% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +57.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), the Czech Republic ($X) and Germany ($X) appeared to be the largest hot-rolled wire stainless steel rod suppliers to Slovakia, with a combined 82% share of total imports.

Italy, with a CAGR of +47.7%, recorded the highest growth rate of the value of imports, among 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 import price for hot-rolled wire rod in coil of stainless steel amounted to $X per ton, which is down by -25.3% against the previous year. Over the period under review, the import price continues to indicate a precipitous descent. The growth pace was the most rapid in 2014 an increase of 113%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+26.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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