United Kingdom: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in the UK

The UK flat-rolled steel products market reached $X in 2023, almost unchanged from the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Flat-rolled steel products consumption peaked in 2023 and is likely to continue growth in the immediate term.

Flat-Rolled Steel Products Production in the UK

In value terms, flat-rolled steel products production totaled $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X%. Flat-rolled steel products production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Flat-Rolled Steel Products Exports

Exports from the UK

In 2023, shipments abroad of flat-rolled products of iron or non-alloy steel was finally on the rise to reach X tons after two years of decline. In general, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, flat-rolled steel products exports reduced rapidly to $X in 2023. Over the period under review, exports, however, showed a perceptible setback. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Mexico (X tons) and Greece (X tons) were the main destinations of flat-rolled steel products exports from the UK, together accounting for X% of total exports. Italy, Bangladesh, Egypt, Belgium, France, Pakistan, Jordan, the Netherlands, Brazil and Spain lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X) remains the key foreign market for flat-rolled products of iron or non-alloy steel exports from the UK, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by France, with an X% share.

From 2012 to 2023, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and France (X% per year).

Export Prices by Country

In 2023, the average flat-rolled steel products export price amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, enjoyed a tangible expansion. The growth pace was the most rapid in 2022 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell significantly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into the UK

Flat-rolled steel products imports into the UK dropped to X tons in 2023, declining by X% against the previous year's figure. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Imports peaked at X tons in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, flat-rolled steel products imports fell significantly to $X in 2023. Overall, imports showed a deep reduction. The pace of growth was the most pronounced in 2022 with an increase of X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

China (X tons), France (X tons) and Germany (X tons) were the main suppliers of flat-rolled steel products imports to the UK, together accounting for X% of total imports. Taiwan (Chinese), Ireland, South Korea and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Ireland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel products suppliers to the UK were China ($X), France ($X) and Germany ($X), together comprising X% of total imports. Taiwan (Chinese), Ireland, South Korea and the Netherlands lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Ireland, with a CAGR of X%, saw 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

The average flat-rolled steel products import price stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the import price, however, showed notable growth. The growth pace was the most rapid in 2022 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank markedly in the following year.

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

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

Source: IndexBox Platform