Production of Iron and Non-Alloy Steel in Ingot in Spain - 2022

Iron and Non-Alloy Steel in Ingot Production in Spain - 2022

In 2022, the amount of iron and non-alloy steel in ingots produced in Spain surged to 17M tons, growing by 19% compared with the previous year. In general, the total production indicated a significant expansion from 2020 to 2022: its volume increased at an average annual rate of +23.0% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +51.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Production of peaked in 2022 and is expected to retain growth in the near future.

In value terms, production of iron and non-alloy steel in ingots soared to $28.4B in 2022 estimated in export price. Over the period under review, the total production indicated significant growth from 2020 to 2022: its value increased at an average annual rate of +23.3% over the last two years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +52.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by 26% against the previous year. Over the period under review, production of reached the peak level in 2022 and is likely to see steady growth in years to come.

Source: IndexBox Market Intelligence Platform

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