EU: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in the EU

After two years of growth, the EU hot-rolled free-cutting steel market decreased by X% to $X in 2023. Overall, consumption recorded a mild slump. The level of consumption peaked at $X in 2022, and then contracted notably in the following year.

Hot-Rolled Free-Cutting Steel Production in the EU

In value terms, hot-rolled free-cutting steel production declined to $X in 2023 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, production reached the peak level of $X, and then declined in the following year.

Hot-Rolled Free-Cutting Steel Exports

Exports in the EU

In 2023, exports of hot-rolled bars in free-cutting steels in the European Union shrank significantly to X tons, with a decrease of X% against 2022. Over the period under review, exports continue to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel exports declined significantly to $X in 2023. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2022, and then contracted markedly in the following year.

Exports by Country

Germany represented the key exporter of hot-rolled bars in free-cutting steels in the European Union, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. France (X tons) took the second position in the ranking, distantly followed by Italy (X tons) and the Czech Republic (X tons). All these countries together held near X% share of total exports. Spain (X tons) held a little share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Italy (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Germany ($X), France ($X) and Italy ($X) were the countries with the highest levels of exports in 2023, together comprising X% of total exports.

In terms of the main exporting countries, Germany, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2023, the export price in the European Union amounted to $X per ton, dropping by X% against the previous year. Export price indicated a pronounced increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, hot-rolled free-cutting steel export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then reduced in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Spain ($X per ton) and Germany ($X per ton), while the Czech Republic ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the other leaders experienced more modest paces of growth.

Hot-Rolled Free-Cutting Steel Imports

Imports in the EU

After two years of growth, overseas purchases of hot-rolled bars in free-cutting steels decreased by X% to X tons in 2023. Overall, imports continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, hot-rolled free-cutting steel imports reduced sharply to $X in 2023. Over the period under review, imports showed a pronounced decline. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then reduced notably in the following year.

Imports by Country

In 2023, Italy (X tons) was the key importer of hot-rolled bars in free-cutting steels, constituting X% of total imports. Germany (X tons) held the second position in the ranking, distantly followed by the Netherlands (X tons) and Poland (X tons). All these countries together took approx. X% share of total imports. Spain (X tons), France (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

Italy experienced a relatively flat trend pattern with regard to volume of imports of hot-rolled bars in free-cutting steels. At the same time, the Netherlands (X%) and Poland (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the European Union, with a CAGR of X% from 2012-2023. By contrast, Germany (X%), the Czech Republic (X%), France (X%) and Spain (X%) illustrated a downward trend over the same period. While the share of Italy (X p.p.), the Netherlands (X p.p.) and Poland (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of France (X p.p.) and Spain (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported hot-rolled bars in free-cutting steels in the European Union, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by the Netherlands, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Italy amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2022, and then fell significantly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Spain ($X per ton) and the Czech Republic ($X per ton), while the Netherlands ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform