Spain: Flat-Rolled Steel Products Market 2025

Flat-Rolled Steel Products Market Size in Spain

In 2021, the Spanish flat-rolled steel products market decreased by -36.2% to $X, falling for the second consecutive year after eight years of growth. Over the period under review, consumption saw a slight shrinkage. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Flat-Rolled Steel Products Production in Spain

In value terms, flat-rolled steel products production shrank dramatically to $X in 2021 estimated in export price. Overall, production, however, showed strong growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 98%. Flat-rolled steel products production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Flat-Rolled Steel Products Exports

Exports from Spain

After three years of growth, shipments abroad of flat-rolled products of iron or non-alloy steel decreased by -3.8% to X tons in 2021. In general, total exports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +65.2% against 2017 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 34% against the previous year. The exports peaked at X tons in 2020, and then shrank modestly in the following year.

In value terms, flat-rolled steel products exports soared to $X in 2021. Overall, total exports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +103.2% against 2017 indices. The pace of growth was the most pronounced in 2018 with an increase of 22% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Italy (X tons) was the main destination for flat-rolled steel products exports from Spain, with a 41% share of total exports. Moreover, flat-rolled steel products exports to Italy exceeded the volume sent to the second major destination, Mexico (X tons), threefold. Portugal (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy amounted to +15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+13.4% per year) and Portugal (-1.2% per year).

In value terms, Italy ($X) remains the key foreign market for flat-rolled products of iron or non-alloy steel exports from Spain, comprising 40% of total exports. The second position in the ranking was held by France ($X), with a 12% share of total exports. It was followed by Mexico, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy amounted to +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+12.9% per year) and Mexico (+13.5% per year).

Export Prices by Country

In 2021, the average flat-rolled steel products export price amounted to $X per ton, jumping by 20% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 20% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Spain

After three years of growth, overseas purchases of flat-rolled products of iron or non-alloy steel decreased by -12.9% to X tons in 2021. Overall, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 16%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, flat-rolled steel products imports expanded slightly to $X in 2021. In general, imports showed a deep reduction. The pace of growth appeared the most rapid in 2018 with an increase of 20%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of flat-rolled steel products imports to Spain, together accounting for 80% of total imports. These countries were followed by France, South Korea, Portugal, Slovakia, Belgium and Italy, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Slovakia (with a CAGR of +26.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the Netherlands ($X) constituted the largest flat-rolled steel products suppliers to Spain, together accounting for 79% of total imports. France, Portugal, South Korea, Belgium, Slovakia and Italy lagged somewhat behind, together comprising a further 16%.

Slovakia, with a CAGR of +24.7%, 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 2021, the average flat-rolled steel products import price amounted to $X per ton, surging by 20% against the previous year. Over the period under review, the import price, however, recorded a slight curtailment. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Portugal ($X per ton) and Italy ($X per ton), while the price for Slovakia ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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