Eastern Europe: Iron And Steel Market 2024

Iron And Steel Market Size in Eastern Europe

The East European iron and steel market surged to $X in 2023, picking up by X% against the previous year. In general, consumption, however, saw a slight contraction. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Iron And Steel Production in Eastern Europe

In value terms, iron and steel production expanded modestly to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Iron And Steel Exports

Exports in Eastern Europe

In 2023, the amount of iron and steel exported in Eastern Europe reduced to X tons, with a decrease of X% compared with 2022 figures. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports reached the peak of X tons. From 2019 to 2023, the growth of the exports remained at a lower figure.

In value terms, iron and steel exports soared to $X in 2023. In general, exports continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Russia represented the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Ukraine (X tons), comprising a X% share of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of iron and steel. Ukraine (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Ukraine (X p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest iron and steel supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was taken by Ukraine ($X), with a X% share of total exports.

In Russia, iron and steel exports declined by an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, saw a noticeable setback. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while Russia totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ukraine (X%).

Iron And Steel Imports

Imports in Eastern Europe

In 2023, approx. X tons of iron and steel were imported in Eastern Europe; increasing by X% on the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, iron and steel imports fell modestly to $X in 2023. Total imports indicated a mild 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. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2022, and then fell modestly in the following year.

Imports by Country

Poland was the key importing country with an import of around X tons, which recorded X% of total imports. Latvia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Belarus (X%), the Czech Republic (X%), Romania (X%) and Bulgaria (X%). The following importers - Slovakia (X tons) and Moldova (X tons) - together made up X% of total imports.

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

In value terms, Poland ($X), Latvia ($X) and Belarus ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Latvia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price, however, saw modest growth. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then declined dramatically in the following year.

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

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

Source: IndexBox Platform