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

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

The Portuguese market for raw steel and steel semi-finished products soared to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

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

In value terms, production of raw steel and steel semi-finished products expanded to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Portugal

Exports of raw steel and steel semi-finished products from Portugal reduced dramatically to X tons in 2022, waning by X% compared with the previous year's figure. Overall, exports showed a abrupt setback. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then fell remarkably in the following year.

In value terms, exports of raw steel and steel semi-finished products fell rapidly to $X in 2022. Over the period under review, exports continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then dropped significantly in the following year.

Exports by Country

Morocco (X tons), Spain (X tons) and Austria (X tons) were the main destinations of exports of raw steel and steel semi-finished products from Portugal, together accounting for X% of total exports. The UK, Belgium, Germany and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Morocco ($X) and France ($X) were the largest markets for raw steel and steel semi-finished products exported from Portugal worldwide, together comprising X% of total exports. Belgium, Germany, Austria and the UK lagged somewhat behind, together comprising a further X%.

Germany, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price enjoyed buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

In 2022, supplies from abroad of raw steel and steel semi-finished products increased by X% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, total imports indicated buoyant growth 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 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by X%. Imports peaked at X tons in 2016; however, from 2017 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. Overall, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The UK (X tons), Spain (X tons) and Italy (X tons) were the main suppliers of imports of raw steel and steel semi-finished products to Portugal, together comprising X% of total imports. Germany, France, Sweden, Canada and Ukraine lagged somewhat behind, together comprising a further X%.

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

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

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

Import Prices by Country

In 2022, the average import price for raw steel and steel semi-finished products amounted to $X per ton, rising by X% against the previous year. In general, the import price showed a notable increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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