Europe: Market for Hot-Rolled Bars Of Silico-Manganese Steel 2024

Market Size for Hot-Rolled Bars Of Silico-Manganese Steel in Europe

After two years of growth, the Europe hot-rolled silico-manganese steel bar market decreased by X% to $X in 2023. Overall, consumption showed a perceptible decrease. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Bars Of Silico-Manganese Steel in Europe

In value terms, hot-rolled silico-manganese steel bar production dropped to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a noticeable slump. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

Exports of Hot-Rolled Bars Of Silico-Manganese Steel

Exports in Europe

In 2023, exports of hot-rolled bars of silico-manganese steel in Europe amounted to X tons, increasing by X% compared with 2022 figures. Over the period under review, exports, however, saw a pronounced downturn. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, hot-rolled silico-manganese steel bar exports totaled $X in 2023. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Russia was the largest exporter of hot-rolled bars of silico-manganese steel in Europe, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2023. Germany (X tons) ranks second in terms of the total exports with a X% share, followed by Italy (X%) and France (X%). Sweden (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to hot-rolled silico-manganese steel bar exports from Russia stood at X%. At the same time, Germany (X%), France (X%) and the Czech Republic (X%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2023. By contrast, Italy (X%) and Sweden (X%) illustrated a downward trend over the same period. While the share of Germany (X p.p.) and France (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Russia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Germany ($X) and Italy ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

In terms of the main exporting countries, Germany, with a CAGR of X%, saw 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 Europe amounted to $X per ton, reducing by X% against the previous year. Export price indicated a pronounced expansion 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 silico-manganese steel bar export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Imports of Hot-Rolled Bars Of Silico-Manganese Steel

Imports in Europe

In 2023, purchases abroad of hot-rolled bars of silico-manganese steel decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports recorded a pronounced decrease. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, hot-rolled silico-manganese steel bar imports reduced to $X in 2023. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then declined in the following year.

Imports by Country

Spain (X tons) and France (X tons) represented the major importers of hot-rolled bars of silico-manganese steel in 2023, recording approx. X% and X% of total imports, respectively. Germany (X tons) ranks next in terms of the total imports with a X% share, followed by the UK (X%), Poland (X%), Lithuania (X%) and Belarus (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled silico-manganese steel bar importing markets in Europe were Spain ($X), France ($X) and Germany ($X), together accounting for X% of total imports.

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

Import Prices by Country

The import price in Europe stood at $X per ton in 2023, leveling off at the previous year. Import price indicated notable 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, hot-rolled silico-manganese steel bar import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price attained the peak level of $X per ton, leveling off in the following year.

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

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

Source: IndexBox Platform