Scandinavia: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Scandinavia

The Scandinavia hot-rolled steel products market expanded rapidly to $X in 2022, increasing by X% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value 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, consumption decreased by X% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Hot-Rolled Steel Products Production in Scandinavia

In value terms, hot-rolled steel products production expanded notably to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. 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 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports in Scandinavia

In 2022, shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by X% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, hot-rolled steel products exports soared to $X in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its value 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, exports increased by X% against 2020 indices. 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 hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Sweden represented the main exporter of flat-rolled products of iron or steel (not further worked than hot-rolled) in Scandinavia, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Finland (X tons), constituting a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of X%).

In value terms, the largest hot-rolled steel products supplying countries in Scandinavia were Sweden ($X) and Finland ($X).

Finland, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, jumping by X% against the previous year. Export price indicated noticeable growth 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, hot-rolled steel products export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Finland stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (X%).

Hot-Rolled Steel Products Imports

Imports in Scandinavia

In 2022, supplies from abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, saw a mild decrease. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, hot-rolled steel products imports soared to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value 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 2017 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Sweden represented the key importer of flat-rolled products of iron or steel (not further worked than hot-rolled) in Scandinavia, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. Finland (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Norway (X%).

Sweden experienced a relatively flat trend pattern with regard to volume of imports of flat-rolled products of iron or steel (not further worked than hot-rolled). Finland experienced a relatively flat trend pattern. Norway (X%) illustrated a downward trend over the same period. Sweden (X p.p.) and Finland (X p.p.) significantly strengthened its position in terms of the total imports, while Norway saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Sweden ($X), Finland ($X) and Norway ($X) appeared to be the countries with the highest levels of imports in 2022.

Finland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated a moderate 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, hot-rolled steel products import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while Sweden ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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