Slovakia: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in Slovakia

In 2022, the Slovak free-cutting steel wire rod market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption showed a abrupt slump. Free-cutting steel wire rod consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Wire Rod Of Free-Cutting Steel in Slovakia

In value terms, free-cutting steel wire rod production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a slight setback. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Wire Rod Of Free-Cutting Steel

Exports from Slovakia

Free-cutting steel wire rod exports from Slovakia soared to X kg in 2020, rising by X% compared with the previous year. Overall, exports, however, recorded a sharp reduction. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2020, the exports remained at a lower figure.

In value terms, free-cutting steel wire rod exports soared to $X in 2020. Over the period under review, exports, however, saw a precipitous descent. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2020, the exports remained at a lower figure.

Exports by Country

Hungary (X kg) was the main destination for free-cutting steel wire rod exports from Slovakia, accounting for a X% share of total exports. Moreover, free-cutting steel wire rod exports to Hungary exceeded the volume sent to the second major destination, Germany (X kg), more than tenfold.

From 2012 to 2020, the average annual rate of growth in terms of volume to Hungary totaled X%.

In value terms, Hungary ($X) emerged as the key foreign market for wire rod of free-cutting steel exports from Slovakia, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports.

From 2012 to 2020, the average annual growth rate of value to Hungary totaled X%.

Export Prices by Country

The average free-cutting steel wire rod export price stood at $X per ton in 2020, rising by X% against the previous year. In general, the export price saw a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2020, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Germany totaled $X per ton.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wire Rod Of Free-Cutting Steel

Imports into Slovakia

After two years of growth, supplies from abroad of wire rod of free-cutting steel decreased by X% to X tons in 2022. Overall, imports recorded a dramatic contraction. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, free-cutting steel wire rod imports dropped sharply to $X in 2022. Over the period under review, imports saw a precipitous decrease. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X tons) constituted the largest free-cutting steel wire rod supplier to Slovakia, with a X% share of total imports. Moreover, free-cutting steel wire rod imports from Italy exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Germany (X% per year).

In value terms, Italy ($X) constituted the largest supplier of wire rod of free-cutting steel to Slovakia, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Germany (X% per year).

Import Prices by Country

The average free-cutting steel wire rod import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a pronounced curtailment. The growth pace was the most rapid in 2018 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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