Spain: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Spain

The Spanish hot-rolled steel products market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. Hot-rolled steel products consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Hot-Rolled Steel Products Production in Spain

In value terms, hot-rolled steel products production fell rapidly to $X in 2021 estimated in export price. In general, production saw a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 24%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Hot-Rolled Steel Products Exports

Exports from Spain

In 2021, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) exported from Spain surged to X tons, with an increase of 43% against the previous year's figure. The total export volume increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled steel products exports skyrocketed to $X in 2021. In general, total exports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, 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.

Exports by Country

France (X tons), Italy (X tons) and Portugal (X tons) were the main destinations of hot-rolled steel products exports from Spain, together accounting for 61% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +13.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel products exported from Spain were France ($X), Italy ($X) and Germany ($X), with a combined 62% share of total exports.

Among the main countries of destination, Italy, with a CAGR of +15.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average hot-rolled steel products export price amounted to $X per ton, growing by 29% against the previous year. Over the last nine years, it increased at an average annual rate of +2.2%. 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 for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Egypt ($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 Algeria (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Spain

In 2021, overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 18% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 19%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled steel products imports skyrocketed to $X in 2021. In general, total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of hot-rolled steel products to Spain, with a 26% share of total imports. Moreover, hot-rolled steel products imports from France exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France stood at -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+23.7% per year) and Turkey (+18.7% per year).

In value terms, France ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than hot-rolled) to Spain, comprising 23% of total imports. The second position in the ranking was taken by Egypt ($X), with a 10% share of total imports. It was followed by Turkey, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+28.5% per year) and Turkey (+22.6% per year).

Import Prices by Country

In 2021, the average hot-rolled steel products import price amounted to $X per ton, with an increase of 51% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 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 France ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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