Denmark: Iron And Steel Market 2024

Iron And Steel Market Size in Denmark

The Danish iron and steel market surged to $X in 2021, jumping by 96% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Iron And Steel Exports

Exports from Denmark

In 2021, the amount of iron and steel exported from Denmark contracted modestly to X tons, remaining stable against the previous year. Over the period under review, exports faced a dramatic decline. The pace of growth appeared the most rapid in 2019 when exports increased by 33%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, iron and steel exports soared to $X in 2021. In general, exports showed a sharp shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for iron and steel exports from Denmark, with a 51% share of total exports. Moreover, iron and steel exports to the United States exceeded the volume sent to the second major destination, Norway (X tons), twofold. The third position in this ranking was held by the United Arab Emirates (X tons), with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -28.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-25.3% per year) and the United Arab Emirates (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for iron and steel exports from Denmark, comprising 66% of total exports. The second position in the ranking was held by Norway ($X), with a 16% share of total exports. It was followed by Slovakia, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-24.7% per year) and Slovakia (+25.1% per year).

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, picking up by 37% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 77% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Iron And Steel Imports

Imports into Denmark

In 2021, imports of iron and steel into Denmark surged to X tons, growing by 62% compared with the year before. In general, total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron and steel imports skyrocketed to $X in 2021. Overall, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) constituted the largest iron and steel supplier to Denmark, accounting for a 66% share of total imports. Moreover, iron and steel imports from Russia exceeded the figures recorded by the second-largest supplier, Norway (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from Russia amounted to +28.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-7.3% per year) and Germany (-49.8% per year).

In value terms, the largest iron and steel suppliers to Denmark were Russia ($X), Norway ($X) and Germany ($X), together accounting for 97% of total imports.

Among the main suppliers, Russia, with a CAGR of +29.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average iron and steel import price amounted to $X per ton, with an increase of 42% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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