Slovakia: Iron And Steel Market 2022

Iron And Steel Market Size in Slovakia

The Slovak iron and steel market dropped to $X in 2021, which is down by -5.1% against the previous year. In general, consumption saw a slight contraction. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Iron And Steel Production in Slovakia

In value terms, iron and steel production contracted to $X in 2021 estimated in export price. Overall, production showed a abrupt setback. The growth pace was the most rapid in 2014 with an increase of 114%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Iron And Steel Exports

Exports from Slovakia

In 2021, overseas shipments of iron and steel increased by 50% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, showed a mild setback. The growth pace was the most rapid in 2020 with an increase of 126%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, iron and steel exports soared to $X in 2021. In general, exports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 179% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons), Hungary (X tons) and the Czech Republic (X tons) were the main destinations of iron and steel exports from Slovakia, with a combined 75% share of total exports.

From 2012 to 2022, the biggest increases were in Italy (with a CAGR of +101.0%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for iron and steel exported from Slovakia were Italy ($X), Hungary ($X) and the Czech Republic ($X), together comprising 75% of total exports. Moreover, iron and steel exports in Italy exceeded the figures recorded by the second-largest exporter, Hungary, more than tenfold.

Italy, with a CAGR of +147.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average iron and steel export price stood at less than $X per ton in 2022, reducing by 99.9% against the previous year. In general, the export price showed a noticeable contraction. The most prominent rate of growth was recorded in 2014 an increase of 102% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Italy ($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 Italy (+23.3%), while the prices for the other major destinations experienced mixed trend patterns.

Iron And Steel Imports

Imports into Slovakia

In 2021, supplies from abroad of iron and steel decreased by -17.6% to X tons, falling for the fifth consecutive year after two years of growth. Over the period under review, imports recorded a perceptible slump. The most prominent rate of growth was recorded in 2016 when imports increased by 40% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, iron and steel imports skyrocketed to $X in 2021. In general, imports recorded a mild contraction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Ukraine (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of iron and steel imports to Slovakia, with a combined 60% share of total imports.

From 2012 to 2022, the biggest increases were in Ukraine (with a CAGR of +82.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Ukraine ($X) and Poland ($X) constituted the largest iron and steel suppliers to Slovakia, with a combined 60% share of total imports.

Among the main suppliers, Ukraine, with a CAGR of +91.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron and steel import price stood at less than $X per ton in 2022, dropping by 99.9% against the previous year. In general, the import price, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2021 an increase of 57% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, the country with the highest price was Germany ($X per ton), while the price for Poland ($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 (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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