Eastern Europe: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in Eastern Europe

The East European iron and steel wire market dropped slightly to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Production of Iron and Steel Wire in Eastern Europe

In value terms, iron and steel wire production reduced to $X in 2022 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% against the previous year. As a result, production attained the peak level of $X, and then fell in the following year.

Exports of Iron and Steel Wire

Exports in Eastern Europe

In 2022, iron and steel wire exports in Eastern Europe expanded markedly to X tons, with an increase of X% against the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, iron and steel wire exports rose notably to $X in 2022. Overall, exports saw prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Russia (X tons) and the Czech Republic (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Belarus (X tons), Slovakia (X tons), Ukraine (X tons) and Poland (X tons), together comprising a X% share of total exports. Romania (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire supplying countries in Eastern Europe were the Czech Republic ($X), Russia ($X) and Slovakia ($X), together comprising X% of total exports.

In terms of the main exporting countries, Russia, with a CAGR of X%, saw the highest growth rate of 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 2022, the export price in Eastern Europe amounted to $X per ton, with an increase of X% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron and steel wire export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (X%), while the other leaders experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports in Eastern Europe

After six years of growth, overseas purchases of iron and steel wire decreased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, iron and steel wire imports expanded slightly to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Poland represented the largest importer of iron and steel wire in Eastern Europe, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. The Czech Republic (X tons) took the second position in the ranking, followed by Romania (X tons), Russia (X tons), Hungary (X tons), Slovakia (X tons) and Lithuania (X tons). All these countries together held approx. X% share of total imports.

Poland was also the fastest-growing in terms of the iron and steel wire imports, with a CAGR of X% from 2012 to 2022. At the same time, Slovakia (X%), Hungary (X%), Romania (X%) and Russia (X%) displayed positive paces of growth. The Czech Republic and Lithuania experienced a relatively flat trend pattern. Poland (X p.p.) significantly strengthened its position in terms of the total imports, while Russia, Lithuania and the Czech Republic saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported iron and steel wire in Eastern Europe, comprising X% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a X% share of total imports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Poland stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Romania (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, growing by X% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron and steel wire import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Slovakia ($X per ton), while Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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