Romania: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Romania

The Romanian market for hot-rolled steel bars and rods surged to $X in 2022, jumping by X% against the previous year. In general, consumption showed a prominent increase. Hot-rolled steel bar and rod consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Hot-Rolled Steel Bars and Rods in Romania

In value terms, hot-rolled steel bar and rod production skyrocketed to $X in 2022 estimated in export price. Overall, production recorded a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Romania

After two years of growth, shipments abroad of hot-rolled steel bars and rods decreased by X% to X tons in 2023. In general, exports saw a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, hot-rolled steel bar and rod exports shrank dramatically to $X in 2023. Overall, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then declined markedly in the following year.

Exports by Country

Germany (X tons) was the main destination for hot-rolled steel bar and rod exports from Romania, accounting for a X% share of total exports. Moreover, hot-rolled steel bar and rod exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), threefold. Poland (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Poland (X% per year).

In value terms, Germany ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Romania, comprising X% of total exports. The second position in the ranking was held by Italy ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2023, the average export price for hot-rolled steel bars and rods amounted to $X per ton, standing approx. at the previous year. Overall, export price indicated a pronounced increase 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 steel bar and rod export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined slightly in the following year.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Poland ($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 Serbia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Romania

After three years of growth, supplies from abroad of hot-rolled steel bars and rods decreased by X% to X tons in 2023. Overall, imports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of X%. Imports peaked at X tons in 2022, and then contracted markedly in the following year.

In value terms, hot-rolled steel bar and rod imports declined sharply to $X in 2023. Over the period under review, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2022, and then contracted notably in the following year.

Imports by Country

Turkey (X tons), Egypt (X tons) and Bulgaria (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Romania, together comprising X% of total imports.

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

In value terms, Turkey ($X), Egypt ($X) and Bulgaria ($X) constituted the largest hot-rolled steel bar and rod suppliers to Romania, with a combined X% share of total imports.

Egypt, with a CAGR of X%, saw the highest growth rate of 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 hot-rolled steel bars and rods stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then plummeted 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 Italy ($X per ton) and Bulgaria ($X per ton), while the price for Moldova ($X per ton) and Turkey ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform