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

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

The Norwegian market for raw steel and steel semi-finished products fell slightly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Consumption of peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

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

In value terms, production of raw steel and steel semi-finished products dropped to $X in 2022 estimated in export price. Overall, production recorded a noticeable decline. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production of attained the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Exports of Raw Steel And Steel Semi-Finished Products

Exports from Norway

In 2022, exports of raw steel and steel semi-finished products from Norway soared to X tons, picking up by X% on the previous year's figure. In general, exports, however, continue to indicate a perceptible slump. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of raw steel and steel semi-finished products soared to $X in 2022. Over the period under review, exports, however, recorded a mild shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Denmark (X tons) was the main destination for exports of raw steel and steel semi-finished products from Norway, with a X% share of total exports. Moreover, exports of raw steel and steel semi-finished products to Denmark exceeded the volume sent to the second major destination, Spain (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Denmark totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and the UK (X% per year).

In value terms, Spain ($X) emerged as the key foreign market for raw steel and steel semi-finished products exports from Norway, comprising X% of total exports. The second position in the ranking was taken by Denmark ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Spain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average export price for raw steel and steel semi-finished products amounted to $X per ton, picking up by X% against the previous year. Overall, export price indicated a tangible expansion 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. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Denmark ($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 Spain (X%), while the prices for the other major destinations experienced a decline.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Norway

In 2022, overseas purchases of raw steel and steel semi-finished products increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of raw steel and steel semi-finished products surged to $X in 2022. Over the period under review, imports continue to indicate a modest increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Luxembourg (X tons) constituted the largest supplier of raw steel and steel semi-finished products to Norway, accounting for a X% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Luxembourg exceeded the figures recorded by the second-largest supplier, Sweden (X tons), threefold. The third position in this ranking was held by Denmark (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Luxembourg totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (X% per year) and Denmark (X% per year).

In value terms, Luxembourg ($X), Sweden ($X) and the UK ($X) were the largest raw steel and steel semi-finished products suppliers to Norway, together accounting for X% of total imports. Denmark, Italy, Germany, Switzerland and France lagged somewhat behind, together accounting for a further X%.

Switzerland, 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 import price for raw steel and steel semi-finished products stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price showed tangible growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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

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

Source: IndexBox Platform

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