Portugal: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in Portugal

In 2023, the Portuguese flat-rolled steel products market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Flat-Rolled Steel Products Production in Portugal

In value terms, flat-rolled steel products production declined slightly to $X in 2023 estimated in export price. In general, the total production indicated notable 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. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

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Flat-Rolled Steel Products Exports

Exports from Portugal

In 2023, the amount of flat-rolled products of iron or non-alloy steel exported from Portugal dropped to X tons, falling by X% against 2022. In general, exports saw a pronounced setback. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, flat-rolled steel products exports stood at $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 when exports increased by X%. Over the period under review, the exports reached the maximum in 2023 and are likely to continue growth in the immediate term.

Exports by Country

Poland (X tons), Spain (X tons) and Switzerland (X tons) were the main destinations of flat-rolled steel products exports from Portugal, together comprising X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Spain ($X) and France ($X) appeared to be the largest markets for flat-rolled steel products exported from Portugal worldwide, with a combined X% share of total exports. Switzerland and India lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Switzerland, with a CAGR of X%, saw 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

The average flat-rolled steel products export price stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, export price indicated a prominent expansion 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 export price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2022 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2023 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 France ($X per ton), while the average price for exports to India ($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 Switzerland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Portugal

Flat-rolled steel products imports into Portugal declined remarkably to X tons in 2023, with a decrease of X% on the year before. Overall, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, flat-rolled steel products imports dropped remarkably to $X in 2023. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports reached the peak of $X, and then fell significantly in the following year.

Imports by Country

Spain (X tons), China (X tons) and Germany (X tons) were the main suppliers of flat-rolled steel products imports to Portugal, together accounting for X% of total imports. The Netherlands, Slovakia and Italy lagged somewhat behind, together comprising a further X%.

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

In value terms, Spain ($X) constituted the largest supplier of flat-rolled products of iron or non-alloy steel to Portugal, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

Import Prices by Country

In 2023, the average flat-rolled steel products import price amounted to $X per ton, waning by X% against the previous year. Overall, import price indicated a notable expansion 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 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Germany ($X per ton), while the price for China ($X per ton) and Italy ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform