Hungary: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Hungary

In 2022, the Hungarian cold-rolled steel products market increased by X% to $X, rising for the second year in a row after four years of decline. Overall, consumption, however, showed a significant expansion. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in years to come.

Cold-Rolled Steel Products Production in Hungary

In value terms, cold-rolled steel products production contracted notably to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production attained the peak level of $X, and then contracted dramatically in the following year.

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Cold-Rolled Steel Products Exports

Exports from Hungary

In 2022, the amount of flat-rolled products of iron or steel (not further worked than cold-rolled) exported from Hungary reduced rapidly to X tons, dropping by X% on the year before. Overall, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, cold-rolled steel products exports dropped to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Slovakia (X tons), Poland (X tons) and Germany (X tons) were the main destinations of cold-rolled steel products exports from Hungary, with a combined X% share of total exports. The Czech Republic, Austria, Slovenia, Serbia, Croatia and Bulgaria lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for cold-rolled steel products exported from Hungary were Slovakia ($X), Germany ($X) and Poland ($X), together comprising X% of total exports. The Czech Republic, Austria, Slovenia, Serbia, Croatia and Bulgaria lagged somewhat behind, together accounting for a further X%.

Austria, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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 cold-rolled steel products export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to the Czech Republic ($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 Bulgaria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Hungary

In 2022, cold-rolled steel products imports into Hungary contracted markedly to X tons, waning by X% compared with the previous year's figure. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X tons, and then shrank sharply in the following year.

In value terms, cold-rolled steel products imports fell to $X in 2022. In general, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then reduced modestly in the following year.

Imports by Country

Germany (X tons), Slovakia (X tons) and Serbia (X tons) were the main suppliers of cold-rolled steel products imports to Hungary, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to Hungary, comprising X% of total imports. The second position in the ranking was taken by Slovakia ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (X% per year) and Italy (X% per year).

Import Prices by Country

In 2022, the average cold-rolled steel products import price amounted to $X per ton, increasing by X% against the previous year. Overall, import price indicated a mild 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, cold-rolled steel products import price increased by X% against 2018 indices. The growth pace was the most rapid in 2021 an increase of 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 immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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