Bulgaria: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in Bulgaria

In 2023, the Bulgarian flat-rolled steel products market decreased by X% to $X for the first time since 2018, thus ending a four-year rising trend. In general, the total consumption indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Flat-rolled steel products consumption peaked at $X in 2022, and then contracted in the following year.

Flat-Rolled Steel Products Exports

Exports from Bulgaria

After two years of growth, shipments abroad of flat-rolled products of iron or non-alloy steel decreased by X% to X tons in 2023. Overall, exports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, flat-rolled steel products exports fell dramatically to $X in 2023. In general, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then declined dramatically in the following year.

Exports by Country

Lithuania (X tons) was the main destination for flat-rolled steel products exports from Bulgaria, with a X% share of total exports. Moreover, flat-rolled steel products exports to Lithuania exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. Greece (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Lithuania was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Greece (X% per year).

In value terms, Lithuania ($X), the Netherlands ($X) and Slovakia ($X) appeared to be the largest markets for flat-rolled steel products exported from Bulgaria worldwide, together accounting for X% of total exports. Greece, Turkey, Germany and Romania lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Greece, with a CAGR of X%, 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 2023, the average flat-rolled steel products export price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then fell in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Flat-Rolled Steel Products Imports

Imports into Bulgaria

In 2023, overseas purchases of flat-rolled products of iron or non-alloy steel increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, flat-rolled steel products imports shrank to $X in 2023. In general, total imports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2022, and then dropped in the following year.

Imports by Country

Slovakia (X tons), Turkey (X tons) and Serbia (X tons) were the main suppliers of flat-rolled steel products imports to Bulgaria, with a combined X% share of total imports. China, Greece, Germany, Romania and Italy lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Romania (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel products suppliers to Bulgaria were Slovakia ($X), Turkey ($X) and Serbia ($X), together comprising X% of total imports. China, Greece, Germany, Italy and Romania lagged somewhat behind, together accounting for a further X%.

Romania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average flat-rolled steel products import price stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, flat-rolled steel products import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2022, and then contracted remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform