Slovakia: Iron And Steel Market 2024

Iron And Steel Market Size in Slovakia

The Slovak iron and steel market surged to $X in 2021, rising by 20% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in the near future.

Iron And Steel Production in Slovakia

In value terms, iron and steel production surged to $X in 2021 estimated in export price. Overall, the total production indicated temperate growth from 2012 to 2021: its value 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. Based on 2021 figures, production increased by +66.9% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 57%. Iron and steel production peaked in 2021 and is expected to retain growth in years to come.

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Iron And Steel Exports

Exports from Slovakia

In 2021, shipments abroad of iron and steel increased by 50% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, recorded a slight decrease. The growth pace was the most rapid in 2020 when exports increased by 126% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, iron and steel exports surged to $X in 2021. In general, exports, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2020 with an increase of 179%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Croatia (X tons) was the main destination for iron and steel exports from Slovakia, with a 68% share of total exports. Moreover, iron and steel exports to Croatia exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was held by the Czech Republic (X tons), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume to Croatia amounted to +37.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+80.8% per year) and the Czech Republic (-17.2% per year).

In value terms, Croatia ($X) remains the key foreign market for iron and steel exports from Slovakia, comprising 66% of total exports. The second position in the ranking was taken by Italy ($X), with an 18% share of total exports. It was followed by the Czech Republic, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Croatia stood at +28.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+135.4% per year) and the Czech Republic (-20.1% per year).

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, jumping by 78% against the previous year. Over the period under review, the export price, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2014 an increase of 102% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Hungary ($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 Italy (+30.1%), while the prices for the other major destinations experienced a decline.

Iron And Steel Imports

Imports into Slovakia

In 2021, purchases abroad of iron and steel decreased by -17.6% to X tons, falling for the fifth year in a row after two years of growth. Overall, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2016 with an increase of 40% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, iron and steel imports soared to $X in 2021. In general, imports continue to indicate a mild curtailment. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Poland (X tons), the Czech Republic (X tons) and Ukraine (X tons) were the main suppliers of iron and steel imports to Slovakia, with a combined 86% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Ukraine (with a CAGR of +98.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Ukraine ($X) were the largest iron and steel suppliers to Slovakia, with a combined 81% share of total imports.

In terms of the main suppliers, Ukraine, with a CAGR of +103.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average iron and steel import price amounted to $X per ton, jumping by 57% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Austria ($X per ton), while the price for the Czech Republic ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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