Oct 18, 2025
IndexBox has just published a new report: United Kingdom – Flat Cold-Rolled Steel in Coils – Market Analysis, Forecast, Size, Trends And Insights.
This article provides a comprehensive analysis of the United Kingdom’s market for flat cold-rolled steel in coils. It details that consumption in 2024 was 2.5M tons, a decrease from a 2019 peak, with a market value of $2B. Domestic production was 2.4M tons, valued at $2.4B. The UK is a net importer, with 176K tons of imports valued at $147M, primarily from Belgium, South Korea, and Japan. Exports were significantly lower at 59K tons, valued at $59M, with Spain as the main destination. The market is forecast to grow at a CAGR of +0.6% in volume and +2.1% in value from 2024 to 2035, reaching 2.6M tons and $2.5B, respectively.
Key Findings
- Market forecast to grow modestly, reaching 2.6M tons by 2035 with a +0.6% volume CAGR
- Market value is projected to increase at a faster rate of +2.1% CAGR, reaching $2.5B by 2035
- Consumption and production have been on a multi-year declining trend since 2019 peaks
- The UK is a net importer, with key suppliers being Belgium, South Korea, and Japan
- Export volumes have contracted sharply, falling over 85% from their 2014 peak
Market Forecast
Driven by increasing demand for flat cold-rolled steel in coils in the UK, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.6% for the period from 2024 to 2035, which is projected to bring the market volume to 2.6M tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market value to $2.5B (in nominal wholesale prices) by the end of 2035.
ConsumptionUnited Kingdom’s Consumption of Flat Cold-Rolled Steel in Coils
In 2024, consumption of flat cold-rolled steel in coils decreased by -0.9% to 2.5M tons, falling for the fifth year in a row after two years of growth. Overall, consumption, however, showed a relatively flat trend pattern. Flat cold-rolled steel coils consumption peaked at 2.7M tons in 2019; however, from 2020 to 2024, consumption failed to regain momentum.
The revenue of the flat cold-rolled steel coils market in the UK shrank to $2B in 2024, with a decrease of -5.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). In general, the total consumption indicated a mild expansion from 2013 to 2024: its value increased at an average annual rate of +1.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -24.1% against 2022 indices. Over the period under review, the market attained the maximum level at $2.6B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.
ProductionUnited Kingdom’s Production of Flat Cold-Rolled Steel in Coils
In 2024, production of flat cold-rolled steel in coils decreased by -0.8% to 2.4M tons, falling for the fourth consecutive year after three years of growth. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 7% against the previous year. As a result, production reached the peak volume of 2.7M tons. From 2015 to 2024, production growth remained at a lower figure.
In value terms, flat cold-rolled steel coils production rose slightly to $2.4B in 2024 estimated in export price. Overall, the total production indicated notable growth from 2013 to 2024: its value increased at an average annual rate of +2.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -7.7% against 2022 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45%. Over the period under review, production attained the peak level at $2.6B in 2022; however, from 2023 to 2024, production remained at a lower figure.
ImportsUnited Kingdom’s Imports of Flat Cold-Rolled Steel in Coils
In 2024, approx. 176K tons of flat cold-rolled steel in coils were imported into the UK; waning by -10.1% compared with the previous year. In general, imports saw a perceptible shrinkage. The growth pace was the most rapid in 2017 when imports increased by 23% against the previous year. As a result, imports reached the peak of 363K tons. From 2018 to 2024, the growth of imports failed to regain momentum.
In value terms, flat cold-rolled steel coils imports dropped dramatically to $147M in 2024. Over the period under review, imports saw a perceptible descent. The most prominent rate of growth was recorded in 2021 when imports increased by 71%. Over the period under review, imports attained the peak figure at $263M in 2014; however, from 2015 to 2024, imports remained at a lower figure.
Imports By Country
Belgium (45K tons), South Korea (41K tons) and Japan (39K tons) were the main suppliers of flat cold-rolled steel coils imports to the UK, with a combined 71% share of total imports.
From 2013 to 2024, the biggest increases were recorded for Japan (with a CAGR of +86.2%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest flat cold-rolled steel coils suppliers to the UK were Belgium ($38M), South Korea ($33M) and Japan ($30M), with a combined 69% share of total imports.
In terms of the main suppliers, Japan, with a CAGR of +76.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Imports By Type
In 2024, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (124K tons) constituted the largest type of flat cold-rolled steel in coils supplied to the UK, accounting for a 70% share of total imports. Moreover, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm exceeded the figures recorded for the second-largest type, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (47K tons), threefold. The third position in this ranking was held by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (3.3K tons), with a 1.9% share.
From 2013 to 2024, the average annual growth rate of the volume of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm imports totaled -3.2%. With regard to the other supplied products, the following average annual rates of growth were recorded: iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (-6.6% per year) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (-9.8% per year).
In value terms, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($102M) constituted the largest type of flat cold-rolled steel in coils supplied to the UK, comprising 69% of total imports. The second position in the ranking was taken by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($40M), with a 27% share of total imports. It was followed by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm, with a 2.2% share.
From 2013 to 2024, the average annual rate of growth in terms of the value of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm imports totaled -2.5%. With regard to the other supplied products, the following average annual rates of growth were recorded: iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (-6.5% per year) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (-7.8% per year).
Import Prices By Type
The average flat cold-rolled steel coils import price stood at $834 per ton in 2024, declining by -7.1% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 49% against the previous year. The import price peaked at $1,259 per ton in 2022; however, from 2023 to 2024, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplied products. In 2024, the highest price was recorded for prices from iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more ($1,169 per ton) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($957 per ton), while the price for iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($824 per ton) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($840 per ton) were amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (+3.2%), while the prices for the other products experienced more modest paces of growth.
Import Prices By Country
In 2024, the average flat cold-rolled steel coils import price amounted to $834 per ton, dropping by -7.1% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 49% against the previous year. The import price peaked at $1,259 per ton in 2022; however, from 2023 to 2024, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was China ($9,790 per ton), while the price for Ukraine ($772 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by China (+27.6%), while the prices for the other major suppliers experienced more modest paces of growth.
ExportsUnited Kingdom’s Exports of Flat Cold-Rolled Steel in Coils
In 2024, the amount of flat cold-rolled steel in coils exported from the UK shrank remarkably to 59K tons, which is down by -20.8% compared with the previous year. In general, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 31% against the previous year. The exports peaked at 480K tons in 2014; however, from 2015 to 2024, the exports failed to regain momentum.
In value terms, flat cold-rolled steel coils exports dropped sharply to $59M in 2024. Over the period under review, exports faced a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 97%. The exports peaked at $343M in 2014; however, from 2015 to 2024, the exports failed to regain momentum.
Exports By Country
Spain (21K tons) was the main destination for flat cold-rolled steel coils exports from the UK, accounting for a 35% share of total exports. Moreover, flat cold-rolled steel coils exports to Spain exceeded the volume sent to the second major destination, the Netherlands (6.7K tons), threefold. The third position in this ranking was held by France (6.4K tons), with an 11% share.
From 2013 to 2024, the average annual growth rate of volume to Spain totaled -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-22.8% per year) and France (-24.8% per year).
In value terms, Spain ($23M) remains the key foreign market for flat cold-rolled steel in coils exports from the UK, comprising 39% of total exports. The second position in the ranking was taken by the Netherlands ($6.9M), with a 12% share of total exports. It was followed by France, with an 11% share.
From 2013 to 2024, the average annual growth rate of value to Spain amounted to -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-20.4% per year) and France (-22.6% per year).
Exports By Type
Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (40K tons) was the largest type of flat cold-rolled steel in coils exported from the UK, accounting for a 68% share of total exports. Moreover, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm exceeded the volume of the second product type, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (14K tons), threefold. Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (4.4K tons) ranked third in terms of total exports with a 7.5% share.
From 2013 to 2024, the average annual rate of growth in terms of the volume of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm exports stood at -9.8%. With regard to the other exported products, the following average annual rates of growth were recorded: iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (-23.4% per year) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (+6.6% per year).
In value terms, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($41M) remains the largest type of flat cold-rolled steel in coils exported from the UK, comprising 70% of total exports. The second position in the ranking was held by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($13M), with a 21% share of total exports. It was followed by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more, with an 8% share.
From 2013 to 2024, the average annual growth rate of the value of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm exports stood at -7.0%. With regard to the other exported products, the following average annual rates of growth were recorded: iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (-22.2% per year) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (+7.7% per year).
Export Prices By Type
In 2024, the average flat cold-rolled steel coils export price amounted to $1,000 per ton, picking up by 4.9% against the previous year. In general, export price indicated a moderate increase from 2013 to 2024: its price increased at an average annual rate of +2.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, flat cold-rolled steel coils export price decreased by -4.0% against 2022 indices. The pace of growth appeared the most rapid in 2021 an increase of 50% against the previous year. Over the period under review, the average export prices reached the peak figure at $1,042 per ton in 2022; however, from 2023 to 2024, the export prices failed to regain momentum.
There were significant differences in the average prices for the major types of exported product. In 2024, the product with the highest price was iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more ($1,067 per ton), while the average price for exports of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($611 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (+3.1%), while the prices for the other products experienced more modest paces of growth.
Export Prices By Country
The average flat cold-rolled steel coils export price stood at $1,000 per ton in 2024, picking up by 4.9% against the previous year. In general, export price indicated temperate growth from 2013 to 2024: its price increased at an average annual rate of +2.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, flat cold-rolled steel coils export price decreased by -4.0% against 2022 indices. The most prominent rate of growth was recorded in 2021 an increase of 50% against the previous year. The export price peaked at $1,042 per ton in 2022; however, from 2023 to 2024, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2024, amid the top suppliers, the country with the highest price was Mexico ($1,178 per ton), while the average price for exports to Pakistan ($565 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.
Source: IndexBox Market Intelligence Platform