Belgium: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Belgium

The Belgian market for raw steel and steel semi-finished products dropped to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Raw Steel And Steel Semi-Finished Products in Belgium

In value terms, production of raw steel and steel semi-finished products fell dramatically to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production of attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Exports of Raw Steel And Steel Semi-Finished Products

Exports from Belgium

In 2022, after two years of growth, there was significant decline in shipments abroad of raw steel and steel semi-finished products, when their volume decreased by X% to X tons. In general, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of raw steel and steel semi-finished products surged to $X in 2022. Overall, exports saw a perceptible reduction. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), France (X tons) and Canada (X tons) were the main destinations of exports of raw steel and steel semi-finished products from Belgium, together accounting for X% of total exports. Austria, Saudi Arabia, Italy and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for raw steel and steel semi-finished products exported from Belgium were France ($X), Germany ($X) and Saudi Arabia ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of X%, saw 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 2022, the average export price for raw steel and steel semi-finished products amounted to $X per ton, increasing by X% against the previous year. Overall, the export price showed a tangible expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Belgium

In 2022, purchases abroad of raw steel and steel semi-finished products decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of raw steel and steel semi-finished products reduced to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of raw steel and steel semi-finished products to Belgium, accounting for a X% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Russia exceeded the figures recorded by the second-largest supplier, Brazil (X tons), more than tenfold. The third position in this ranking was taken by France (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and France (X% per year).

In value terms, Russia ($X) constituted the largest supplier of raw steel and steel semi-finished products to Belgium, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Russia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and France (X% per year).

Import Prices by Country

The average import price for raw steel and steel semi-finished products stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for raw steel and steel semi-finished products increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Russia ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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