United Kingdom: Iron Bar Market Overview 2021

Iron Bar Market Size in the UK

In 2020, after three years of decline, there was significant growth in the UK iron bar market, when its value increased by X% to $X. Over the period under review, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 when the market value increased by X% year-to-year. As a result, consumption attained the peak level of $X. from 2013 to 2020, the growth of the market failed to regain the momentum.

Iron Bar Production in the UK

In value terms, iron bar production fell notably to $X in 2020 estimated in export prices. In general, production, however, recorded a precipitous decline. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% year-to-year. Iron bar production peaked at $X in 2012; however, from 2013 to 2020, production remained at a lower figure.

Iron Bar Exports

Exports from the UK

In 2020, iron bar exports from the UK shrank slightly to X tonnes, remaining stable against the year before. In general, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, exports reached the peak figure at X tonnes in 2007; however, from 2008 to 2020, exports stood at a somewhat lower figure.

In value terms, iron bar exports contracted rapidly to $X in 2020. Overall, exports recorded a deep setback. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Exports peaked at $X in 2008; however, from 2009 to 2020, exports failed to regain the momentum.

Exports by Country

Germany (X tonnes), Belgium (X tonnes) and the Netherlands (X tonnes) were the main destinations of iron bar exports from the UK, with a combined X% share of total exports. Ireland, Taiwan (Chinese), Italy, Spain, Turkey, France, Sweden, Poland, the Czech Republic and the U.S. lagged somewhat behind, together comprising a further X 2007 to 2020, the biggest increases were in Taiwan (Chinese), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron bar exported from the UK were Germany ($X), Italy ($X) and Belgium ($X), together comprising X% of total exports. These countries were followed by the Netherlands, Ireland, Taiwan (Chinese), the U.S., France, Spain, Turkey, Poland, Sweden and the Czech Republic, which together accounted for a further X (Chinese) 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 more modest paces of growth.

Export Prices by Country

The average iron bar export price stood at $X per tonne in 2020, falling by -X% against the previous year. Over the period under review, the export price showed a mild shrinkage. The pace of growth was the most pronounced in 2011 when the average export price increased by X% y-o-y. As a result, export price attained the peak level of $X per tonne. from 2012 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per tonne), while the average price for exports to Taiwan (Chinese) ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S., while the prices for the other major destinations experienced mixed trend patterns.

Iron Bar Imports

Imports into the UK

In 2020, purchases abroad of bars and rods of iron or steel (hot-rolled) decreased by -X% to X tonnes, falling for the second year in a row after two years of growth. In general, imports continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2010 when imports increased by X% y-o-y. Over the period under review, imports attained the peak figure at X tonnes in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, iron bar imports dropped dramatically to $X in 2020. Over the period under review, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2011 when imports increased by X% against the previous year. Imports peaked at $X in 2008; however, from 2009 to 2020, imports remained at a lower figure.

Imports by Country

Portugal (X tonnes), Spain (X tonnes) and Germany (X tonnes) were the main suppliers of iron bar imports to the UK, together accounting for X% of total imports. These countries were followed by Belarus, France, the Czech Republic and Italy, which together accounted for a further X 2007 to 2020, the biggest increases were in Belarus, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron bar suppliers to the UK were Portugal ($X), Germany ($X) and Spain ($X), with a combined X% share of total imports. Belarus, France, the Czech Republic and Italy lagged somewhat behind, together comprising a further X the main suppliers, Belarus saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2020, the average iron bar import price amounted to $X per tonne, falling by -X% against the previous year. Over the period under review, the import price recorded a slight shrinkage. The growth pace was the most rapid in 2008 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per tonne in 2011; however, from 2012 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($X per tonne), while the price for Belarus ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the Czech Republic, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for bars and rods of iron or steel (hot-rolled) in the world?

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The country with the largest volume of iron bar consumption was China (610M tonnes), accounting for 71% of total volume. Moreover, iron bar consumption in China exceeded the figures recorded by the second-largest consumer, India (31M tonnes), more than tenfold.

What are the largest producers of bars and rods of iron or steel (hot-rolled) in the world?

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China (621M tonnes) constituted the country with the largest volume of iron bar production, comprising approx. 72% of total volume. Moreover, iron bar production in China exceeded the figures recorded by the second-largest producer, India (32M tonnes), more than tenfold. South Korea (22M tonnes) ranked third in terms of total production with a 2.6% share.

What are the leading suppliers of bars and rods of iron or steel (hot-rolled) to the UK?

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In value terms, the largest iron bar suppliers to the UK were Portugal ($84M), Germany ($78M) and Spain ($65M), with a combined 49% share of total imports. Belarus, France, the Czech Republic and Italy lagged somewhat behind, together comprising a further 29%.

What are the leading importers of bars and rods of iron or steel (hot-rolled) from the UK?

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In value terms, the largest markets for iron bar exported from the UK were Germany ($110M), Italy ($62M) and Belgium ($53M), together comprising 37% of total exports. The Netherlands, Ireland, Taiwan (Chinese), the U.S., France, Spain, Turkey, Poland, Sweden and the Czech Republic lagged somewhat behind, together comprising a further 49%.

What is the average export price for bars and rods of iron or steel (hot-rolled) in the UK?

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In 2020, the average iron bar export price amounted to $726 per tonne, shrinking by -17.9% against the previous year.

What is the average import price for bars and rods of iron or steel (hot-rolled) in the UK?

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In 2020, the average iron bar import price amounted to $702 per tonne, dropping by -6.6% against the previous year.