Report Update: Apr 1, 2024

Hungary - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights

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Iron and Steel Price in Hungary - 2023

Iron and Steel Price in Hungary (CIF) - 2022

The average iron and steel import price stood at $999 per ton in 2022, picking up by 24% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 29%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($1,613 per ton), while the price for Italy ($778 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Iron and Steel Price in Hungary (FOB) - 2023

In July 2023, the average iron and steel export price amounted to $4,892 per ton, with an increase of 25% against the previous month. Overall, export price indicated a measured expansion from July 2022 to July 2023: its price increased at an average monthly rate of +4.5% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, iron and steel export price increased by +43.8% against May 2023 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was Italy ($8,209 per ton), while the average price for exports to Croatia ($2,066 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Iron and Steel Imports in Hungary

In 2022, the amount of iron and steel imported into Hungary totaled 12K tons, surging by 9.7% on the year before. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 52%.

In value terms, iron and steel imports skyrocketed to $12M in 2022. Overall, imports saw a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 96% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Import of Iron and Steel in Hungary (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Slovakia	1.2	1.5	3.9	3.1	37.2%
Poland	2.2	0.9	1.1	1.4	-14.0%
Germany	1.3	0.6	1.2	0.9	-11.5%
Italy	0.9	0.4	0.3	0.7	-8.0%
Austria	N/A	N/A	0.8	0.4	-50.0%
South Africa	N/A	N/A	N/A	0.3	0%
Czech Republic	0.7	0.4	0.9	0.2	-34.1%
Others	0.9	0.7	0.7	4.9	75.9%
Total	7.3	4.5	8.9	12.1	18.3%

Top Suppliers of Iron and Steel to Hungary in 2022:

Slovakia (3.2K tons)
Poland (1.2K tons)
Italy (0.9K tons)
Germany (0.6K tons)
Austria (0.5K tons)
South Africa (0.4K tons)
Czech Republic (0.2K tons)

Iron and Steel Exports in Hungary

Iron and steel exports from Hungary shrank to 3.3K tons in 2022, waning by -3.9% on the previous year. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +9.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +38.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 44% against the previous year. As a result, the exports reached the peak of 3.5K tons, and then dropped in the following year.

In value terms, iron and steel exports expanded significantly to $9.6M in 2022. Overall, total exports indicated measured growth from 2019 to 2022: its value increased at an average annual rate of +4.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +106.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 86% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Export of Iron and Steel in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Italy	1,318	938	2,573	2,985	31.3%
Serbia	1,169	967	1,229	1,456	7.6%
Slovenia	1,640	1,280	1,955	1,319	-7.0%
Czech Republic	259	245	405	399	15.5%
Germany	1,220	211	350	177	-47.5%
Slovakia	1,048	150	764	175	-44.9%
Croatia	111	113	173	157	12.3%
Austria	618	188	378	80.5	-49.3%
Bulgaria	233	N/A	N/A	N/A	0%
Others	686	541	788	2,804	59.9%
Total	8,304	4,633	8,614	9,552	4.8%

Top Export Markets for Iron and Steel from Hungary in 2022:

Italy (910.7 tons)
Serbia (493.4 tons)
Slovenia (450.7 tons)
Czech Republic (141.4 tons)
Slovakia (99.8 tons)
Germany (50.7 tons)
Croatia (46.8 tons)
Austria (6.5 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the iron and steel market in Hungary. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Hungary

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hungary
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023