Report Update: May 1, 2024

Colombia - Flat-Rolled Products Of Iron Or Steel (Not Further Worked Than Cold-Rolled) - Market Analysis, Forecast, Size, Trends and Insights

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Cold-Rolled Steel Products Price in Colombia - 2022

Cold-Rolled Steel Products Price in Colombia (CIF) - 2022

The average cold-rolled steel products import price stood at $788 per ton in 2022, dropping by -5.2% against the previous year. In general, the import price showed a slight contraction. The pace of growth appeared the most rapid in 2017 an increase of 26% against the previous year. Over the period under review, average import prices hit record highs at $919 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($1,926 per ton), while the price for Venezuela ($332 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Cold-Rolled Steel Products Price in Colombia (FOB) - 2022

The average cold-rolled steel products export price stood at $1,284 per ton in 2022, growing by 37% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. Over the period under review, the average export prices reached the peak figure at $1,426 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($3,569 per ton), while the average price for exports to Costa Rica ($1,016 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports in Colombia

In 2022, the amount of flat-rolled products of iron or steel (not further worked than cold-rolled) imported into Colombia declined to 479K tons, with a decrease of -14.5% against the previous year's figure. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 41% against the previous year. As a result, imports reached the peak of 560K tons, and then reduced in the following year.

In value terms, cold-rolled steel products imports shrank notably to $377M in 2022. Over the period under review, total imports indicated a modest increase from 2019 to 2022: its value increased at an average annual rate of +1.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 61%. As a result, imports reached the peak of $465M, and then fell markedly in the following year.

Import of Cold-Rolled Steel Products in Colombia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	124	84.2	200	200	17.3%
Japan	83.9	78.1	94.5	60.1	-10.5%
South Korea	42.0	48.6	48.4	25.9	-14.9%
Russia	5.2	3.8	38.8	18.4	52.4%
Taiwan (Chinese)	23.3	13.7	17.4	15.7	-12.3%
Brazil	15.3	12.7	17.9	13.5	-4.1%
El Salvador	2.0	3.9	11.6	13.2	87.6%
Belgium	13.2	11.4	5.8	5.4	-25.8%
Venezuela	4.6	4.4	3.2	3.1	-12.3%
Others	47.0	27.8	27.6	21.1	-23.4%
Total	360	289	465	377	1.5%

Top Suppliers of Cold-Rolled Steel Products to Colombia in 2022:

China (242.7K tons)
Japan (93.8K tons)
South Korea (43.1K tons)
Russia (26.5K tons)
Brazil (13.7K tons)
El Salvador (11.5K tons)
Venezuela (9.4K tons)
Belgium (9.1K tons)
Taiwan (Chinese) (8.2K tons)

Cold-Rolled Steel Products Exports in Colombia

In 2022, overseas shipments of flat-rolled products of iron or steel (not further worked than cold-rolled) decreased by -78.8% to 1.3K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports faced a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 78% against the previous year. As a result, the exports reached the peak of 5.9K tons, and then shrank rapidly in the following year.

In value terms, cold-rolled steel products exports fell remarkably to $1.6M in 2022. Over the period under review, exports showed a perceptible decrease. The pace of growth was the most pronounced in 2021 with an increase of 97% against the previous year. As a result, the exports reached the peak of $5.5M, and then reduced notably in the following year.

Export of Cold-Rolled Steel Products in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Venezuela	1,556	2,499	3,497	771	-20.9%
Costa Rica	4.7	3.2	246	435	352.3%
Ecuador	56.9	98.1	109	266	67.2%
United States	8.1	88.7	91.1	44.8	76.8%
Others	164	108	1,576	92.0	-17.5%
Total	1,790	2,797	5,520	1,609	-3.5%

Top Export Markets for Cold-Rolled Steel Products from Colombia in 2022:

Venezuela (705.4 tons)
Costa Rica (428.3 tons)
Ecuador (74.6 tons)
United States (25.0 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cold-rolled steel products market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24103520 - Flat-rolled products of high-speed steel, of a width . .600 mm, h ot-rolled or cold-rolled
Prodcom 24104150 - Electrical sheet and strip, grain non-oriented of a width . .600 mm
Prodcom 241041Z0 - Uncoated cold-rolled sheet, plate and strip (including electrical sheet and strip not finally annealed), of a width . .600 mm, of steel other than stainless steel
Prodcom 24104200 - Cold-rolled sheet, plate and wide strip of a width of .600 mm or more (of stainless steel)
Prodcom 24104300 - Flat-rolled products of alloy steel other than stainless, of a width of . .600 mm, simply cold-rolled (excluding products of high-speed steel or silicon-electrical steel)
Prodcom 24321025 - Flat-rolled products of iron or non-alloy steel, of a width of < .600 mm, simply cold-rolled
Prodcom 243210Z1 - Cold-rolled narrow strip and cold-rolled slit strip, of non-alloy steel and of alloy steel (other than stainless steel), of a width < .600 mm
Prodcom 243210Z2 - Cold-rolled narrow strip and cold-rolled slit strip, of stainless steel (excluding insulated electric strip, corrugated strip with one edge serrated or bevelled), of a width < .600 mm

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023