Stainless steel in primary forms and stainless steel semi-finished products market in Italy

Earlier Report Observations

The Italian market for stainless steel in primary forms and semi-finished products expanded significantly in volume from 93 thousand tons in 2018 to 148 thousand tons in 2019, before contracting to 126 thousand tons in 2020. This surge was accompanied by a sharp rise in imports to 76 thousand tons in 2019, reflecting a structural shift where Italy transitioned from a net exporter to a net importer of stainless steel, particularly for ingots and semi-finished products.

Following 2020, trade flows exhibited considerable volatility. Imports peaked at 115 thousand tons in 2021, then fell to 75 thousand tons in 2022 and plummeted to just 15 thousand tons in 2023, before recovering to 97 thousand tons in 2024. Exports grew steadily from 18 thousand tons in 2020 to 44 thousand tons in 2024. During this period, major industry players consolidated their positions. In 2022, Cogne Acciai Speciali reported robust financial results with revenues near one billion euros, while niche producer Euroacciai also showed growth, signaling sector strengthening. However, by 2023, the market displayed weakness, pressured by intense international competition, particularly from China, which contributed to a negative trade balance with non-EU countries and a drop in exports of flat products.

Market conditions began to recover in 2024, overcoming the previous year's destocking phase with a fluctuating demand environment. Euroacciai achieved ISO 9001 certification in November 2024, enhancing its quality standards, and the Danieli Group continued to operate its significant production capacity while developing new research projects. The distribution network proved resilient, supported by 28 active service centers for national SMEs, although global overcapacity and Chinese leadership in the steel sector continued to influence prices and production dynamics in Italy.

Production stainless steel in primary forms and stainless steel semi-finished products in Italy

In value, 2017-2020, M $ US

In 2020, Italy's production of stainless steel in primary forms and semi-finished products was valued at 187.0 million US dollars, marking a 21.6% year-on-year decline. Between 2017 and 2020, production fell by 48.4%, which translates to an annualized decrease of 19.8%. The most significant drop occurred in 2018, with a 34.4% reduction, while 2019 saw a modest increase of 0.4%.

Annual dynamics of production in Italy in value, 2017-2020, M $ US

In kind, 2017-2020, K t

In 2020, Italy produced 78.2 thousand tonnes of stainless steel in primary forms and semi-finished products, representing a substantial 23.2% decrease compared to 2019. From 2017 to 2020, production declined by 48.9%, averaging an annualized rate of 20.1%. The sharpest fall was recorded in 2018 at 37.1%, whereas 2019 experienced a 5.7% rise.

Annual dynamics of production in Italy in kind, 2017-2020, K t

Exports stainless steel in primary forms and stainless steel semi-finished products from Italy

Exports in kind, t

In 2020, Italy's exports of stainless steel in primary forms and semi-finished products totaled 17 883 tonnes, showing a dramatic 40.3% drop from the previous year. Over the period from 2017 to 2020, exports decreased by 55.9%, with an annualized decline of 23.9%. The largest increase was in 2019, at 8.8%.

Annual dynamics of product's exports from Italy in kind, 2017-2020, t

From 2017 to 2020, the United States, Germany, and France were the primary destinations for Italy's exports in volume terms. The United States accounted for 47.2% of exports, Germany for 16.8%, and France for 8.8%, together making up 72.8% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Italy in kind, 2017-2020

Exports in value, M $ US

Italy's cross-border shipments of stainless steel in primary forms and semi-finished products declined for the third consecutive year. In 2020, exports were valued at 71.4 million US dollars, reflecting a steep 28.3% decrease compared to the previous year. Between 2017 and 2020, exports fell by 41.6%, equating to an annualized rate of 16.4%.

Annual dynamics of product's exports from Italy in value, 2017-2020, M $ US

During 2017–2020, the United States, Germany, and France emerged as the main markets for Italy's exports in value terms. The United States represented 33.9% of exports, Germany 21.6%, and France 10.3%, collectively accounting for 65.8% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Italy in value, 2017-2020

Imports stainless steel in primary forms and stainless steel semi-finished products to Italy

Imports in kind, t

The market displayed volatility throughout the observed period. Imports reached their lowest point in 2017 and peaked in 2019, with a 3.1-fold difference between these years. In 2020, Italy's imports of stainless steel in primary forms and semi-finished products amounted to 65 583 tonnes, indicating a significant 13.9% year-on-year decline. The maximum volume was recorded in 2019 at 76 142 tonnes, which also saw the largest increase of 212.0%.

Annual dynamics of product's imports to Italy in kind, 2017-2020, t

From 2017 to 2020, Indonesia, Sweden, and Spain were the key sources for Italy's imports in volume terms, together accounting for 78.7% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Italy in kind, 2017-2020

Imports in value, M $ US

Market performance showed noticeable fluctuations during this period. Imports hit their lowest point in 2017 and reached their maximum in 2019, with a 2.3-fold difference between these years. In 2020, Italy's imports of stainless steel in primary forms and semi-finished products were valued at 136.8 million US dollars, showing a solid 16.7% decrease from the previous year. The peak value was in 2019 at 164.2 million US dollars, which also experienced the largest increase of 110.7%.

Annual dynamics of product's imports to Italy in value, 2017-2020, M $ US

Throughout 2017–2020, Indonesia, Sweden, and Spain formed the core group of markets for Italy's imports in value terms. Indonesia contributed 36.9% of imports, Sweden 22.6%, and Spain 14.5%, together representing 74.0% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Italy in value, 2017-2020