Steel demand in Spain decreased in 2022

According to the statement made on April 18, Spanish demand for steel products decreased by 4 percent to 12.4 million metric tons in 2022.

An industry association president said the group showed a similar trend at the beginning of 2023, adding that demand weakened significantly in the fourth quarter, down 14% y-o-y.

Crude steel production for the full year was 11.5 million mt, down 19 percent as imports from outside the EU eliminated domestic material.

Spanish deliveries of steel products to the market decreased by 13 percent to 11.9 million metric tons in 2022, driven by an 18 percent decrease in exports, including a 28 percent decrease in non-EU exports. A total of 6.4 million mt of products were delivered to the Spanish market, down 9% y-o-y.

Spain imported 4.2 million mt of steel products from outside the EU, the highest level in 15 years, accounting for 43 percent of the total. Total imports, on the other hand, decreased by 3% to 9.8 million mt.

Exports decreased by 14 percent to 8.1 million mt, leaving a volume deficit of 1.7 million mt, almost tripling the 2021 deficit.