United Kingdom: Market for Hot-Rolled Round Bars Of Stainless Steel 2024

Market Size for Hot-Rolled Round Bars Of Stainless Steel in the UK

In 2023, the UK hot-rolled round stainless steel market was finally on the rise to reach $X after three years of decline. Overall, the total consumption indicated moderate growth from 2012 to 2023: its value 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, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.

Production of Hot-Rolled Round Bars Of Stainless Steel in the UK

In value terms, hot-rolled round stainless steel production reduced slightly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a notable expansion from 2012 to 2023: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. Hot-rolled round stainless steel production peaked at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Exports of Hot-Rolled Round Bars Of Stainless Steel

Exports from the UK

In 2023, the amount of hot-rolled round bars of stainless steel exported from the UK declined to X tons, with a decrease of X% compared with 2022 figures. Over the period under review, exports saw a pronounced curtailment. The pace of growth was the most pronounced in 2022 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, hot-rolled round stainless steel exports rose significantly to $X in 2023. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons), Germany (X tons) and the United States (X tons) were the main destinations of hot-rolled round stainless steel exports from the UK, with a combined X% share of total exports. France, Poland, China, the Netherlands, Singapore, Norway, Ireland, India, Denmark and Austria lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled round stainless steel exported from the UK were Italy ($X), Germany ($X) and France ($X), together comprising X% of total exports. The United States, Poland, China, Singapore, the Netherlands, Ireland, Norway, India, Denmark and Austria lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Denmark, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average hot-rolled round stainless steel export price amounted to $X per ton, picking up by X% against 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 round stainless steel export price increased by X% against 2018 indices. The growth pace was the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Norway ($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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Round Bars Of Stainless Steel

Imports into the UK

After three years of decline, overseas purchases of hot-rolled round bars of stainless steel increased by X% to X tons in 2023. Overall, imports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, hot-rolled round stainless steel imports soared to $X in 2023. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Sweden (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of hot-rolled round stainless steel imports to the UK, together comprising X% of total imports. Italy, France, India, Taiwan (Chinese), the United States and Austria lagged somewhat behind, together accounting for a further X%.

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

In value terms, Sweden ($X), Germany ($X) and Spain ($X) were the largest hot-rolled round stainless steel suppliers to the UK, together comprising X% of total imports. Italy, France, Taiwan (Chinese), India, the United States and Austria lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Austria, with a CAGR of X%, saw the highest growth rate of 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 hot-rolled round stainless steel import price stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, import price indicated a measured 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, hot-rolled round stainless steel import price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2023 and is expected to retain growth in the immediate term.

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 the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform