Price for Chain and Parts Thereof, of Iron or Steel in Colombia - 2022

Contents:

1. Price for Chain and Parts Thereof, of Iron or Steel in Colombia (CIF) - 2022
2. Price for Chain and Parts Thereof, of Iron or Steel in Colombia (FOB) - 2022
3. Imports of Chain and Parts Thereof, of Iron or Steel in Colombia
4. Exports of Chain and Parts Thereof, of Iron or Steel in Colombia

Price for Chain and Parts Thereof, of Iron or Steel in Colombia (CIF) - 2022

The average import price for chain and parts thereof, of iron or steel stood at $4,621 per ton in February 2022, increasing by 4.3% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in October 2021 when the average import price increased by 18% against the previous month. Over the period under review, average import prices attained the maximum at $5,114 per ton in December 2021; however, from January 2022 to February 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($13,901 per ton), while the price for China ($3,361 per ton) was amongst the lowest.

From February 2021 to February 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Chain and Parts Thereof, of Iron or Steel in Colombia (FOB) - 2022

The average export price for chain and parts thereof, of iron or steel stood at $11,569 per ton in 2022, with an increase of 33% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 64% against the previous year. As a result, the export price reached the peak level of $17,847 per ton. From 2014 to 2022, the average export prices remained at a somewhat 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 Trinidad and Tobago ($25,418 per ton), while the average price for exports to Bolivia ($5,769 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 Trinidad and Tobago (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chain and Parts Thereof, of Iron or Steel in Colombia

In 2022, the amount of chain and parts thereof, of iron or steel imported into Colombia soared to 15K tons, increasing by 17% on the previous year. In general, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +11.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 39% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, imports of chain and parts thereof, of iron or steel skyrocketed to $66M in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +12.6% 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 +84.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 50% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Top Suppliers of Chain and Parts Thereof, of Iron or Steel to Colombia in 2022:

1. China (12.9K tons)
2. United States (1.1K tons)
3. India (0.4K tons)

Exports of Chain and Parts Thereof, of Iron or Steel in Colombia

Exports of chain and parts thereof, of iron or steel from Colombia shrank sharply to 355 tons in 2022, with a decrease of -26.7% compared with the previous year. In general, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 179%. As a result, the exports attained the peak of 484 tons, and then dropped significantly in the following year.

In value terms, exports of chain and parts thereof, of iron or steel shrank modestly to $4.1M in 2022. Over the period under review, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 147% against the previous year. As a result, the exports reached the peak of $4.2M, and then declined modestly in the following year.

Top Export Markets for Chain and Parts Thereof, of Iron or Steel from Colombia in 2022:

1. United States (102.3 tons)
2. Mexico (59.2 tons)
3. Venezuela (57.7 tons)
4. Ecuador (50.9 tons)
5. Dominican Republic (25.1 tons)
6. Panama (13.0 tons)
7. Peru (12.7 tons)
8. Argentina (7.6 tons)
9. Trinidad and Tobago (0.1 tons)

Source: IndexBox Market Intelligence Platform