Spain: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in Spain

The Spanish flat-rolled steel products market surged to $X in 2023, jumping by X% against the previous year. In general, consumption, however, continues to indicate a mild setback. Flat-rolled steel products consumption peaked at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Flat-Rolled Steel Products Production in Spain

In value terms, flat-rolled steel products production surged to $X in 2023 estimated in export price. Over the period under review, production enjoyed a slight increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Flat-Rolled Steel Products Exports

Exports from Spain

In 2023, shipments abroad of flat-rolled products of iron or non-alloy steel decreased by X% to X tons, falling for the third year in a row after three years of growth. In general, exports saw a noticeable decline. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, flat-rolled steel products exports contracted significantly to $X in 2023. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by X%. The exports peaked at $X in 2022, and then contracted markedly in the following year.

Exports by Country

Italy (X tons) was the main destination for flat-rolled steel products exports from Spain, with a X% share of total exports. Moreover, flat-rolled steel products exports to Italy exceeded the volume sent to the second major destination, Portugal (X tons), twofold. France (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Italy amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and France (X% per year).

In value terms, Italy ($X) remains the key foreign market for flat-rolled products of iron or non-alloy steel exports from Spain, comprising X% of total exports. The second position in the ranking was taken by Portugal ($X), with an X% share of total exports. It was followed by France, with a X% share.

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

Export Prices by Country

In 2023, the average flat-rolled steel products export price amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated a moderate 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 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The export price peaked in 2023 and is likely to continue growth in the immediate term.

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

Flat-Rolled Steel Products Imports

Imports into Spain

In 2023, after two years of decline, there was significant growth in purchases abroad of flat-rolled products of iron or non-alloy steel, when their volume increased by X% to X tons. In general, imports, however, saw a noticeable curtailment. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, flat-rolled steel products imports soared to $X in 2023. Overall, imports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of flat-rolled steel products imports to Spain, with a combined X% share of total imports. South Korea, France, Taiwan (Chinese), India, Italy and Portugal lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel products suppliers to Spain were China ($X), Germany ($X) and the Netherlands ($X), with a combined X% share of total imports. South Korea, France, Taiwan (Chinese), Italy, Portugal and India lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2023, the average flat-rolled steel products import price amounted to $X per ton, shrinking by X% against the previous year. Overall, import price indicated a mild expansion 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, flat-rolled steel products import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform