Report Update: May 1, 2024

Colombia - Iron Or Steel Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends And Insights

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Steel Stranded Wire Price in Colombia - 2022

Steel Stranded Wire Price in Colombia (CIF) - 2022

The average steel stranded wire import price stood at $1,871 per ton in 2022, shrinking by -3.4% against the previous year. Over the period under review, the import price continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2018 when the average import price increased by 12%. Over the period under review, average import prices hit record highs at $2,733 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($5,499 per ton), while the price for Free Zones ($550 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Steel Stranded Wire Price in Colombia (FOB) - 2022

In 2022, the average steel stranded wire export price amounted to $2,202 per ton, which is down by -9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2021 when the average export price increased by 26% against the previous year. As a result, the export price attained the peak level of $2,419 per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($3,687 per ton), while the average price for exports to Bolivia ($965 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 Venezuela (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports in Colombia

In 2022, approx. 18K tons of iron or steel stranded wire, ropes and cables were imported into Colombia; falling by -16% compared with 2021 figures. Overall, total imports indicated moderate growth from 2019 to 2022: its volume increased at an average annual rate of +4.5% 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 +24.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 48%. As a result, imports reached the peak of 21K tons, and then dropped markedly in the following year.

In value terms, steel stranded wire imports fell dramatically to $33M in 2022. Over the period under review, total imports indicated a mild expansion 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 +30.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 61%. As a result, imports attained the peak of $41M, and then declined remarkably in the following year.

Import of Steel Stranded Wire in Colombia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	6.9	5.3	13.1	10.2	13.9%
Brazil	7.1	4.4	6.5	5.0	-11.0%
Mexico	0.6	1.1	4.6	3.6	81.7%
United States	5.5	4.0	4.4	3.5	-14.0%
Portugal	0.2	1.1	3.6	2.8	141.0%
Vietnam	2.5	1.8	0.8	1.3	-19.6%
South Korea	1.8	1.6	1.3	1.2	-12.6%
Italy	1.7	0.4	0.5	0.6	-29.3%
Spain	0.2	0.7	0.8	0.6	44.2%
Free Zones	N/A	0.5	0.5	0.4	-10.6%
Others	5.0	4.5	4.5	3.8	-8.7%
Total	31.5	25.3	40.7	33.0	1.6%

Top Suppliers of Steel Stranded Wire to Colombia in 2022:

China (5.0K tons)
Brazil (3.7K tons)
Portugal (2.4K tons)
Mexico (2.1K tons)
South Korea (0.7K tons)
Free Zones (0.7K tons)
United States (0.6K tons)
Spain (0.6K tons)
Italy (0.4K tons)
Vietnam (0.4K tons)

Steel Stranded Wire Exports in Colombia

In 2022, the amount of iron or steel stranded wire, ropes and cables exported from Colombia reduced to 1.7K tons, shrinking by -11.2% against 2021. The total export volume increased at an average annual rate of +2.5% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. As a result, the exports reached the peak of 2K tons, and then contracted in the following year.

In value terms, steel stranded wire exports shrank dramatically to $3.8M in 2022. In general, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +5.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 62%. As a result, the exports attained the peak of $4.8M, and then declined significantly in the following year.

Export of Steel Stranded Wire in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	1,593	1,866	3,526	2,794	20.6%
Ecuador	1,140	722	843	692	-15.3%
Peru	302	217	49.9	145	-21.7%
Netherlands	1.1	2.3	78.3	62.0	283.4%
Bolivia	24.7	10.0	41.7	33.0	10.1%
Others	216	116	218	120	-17.8%
Total	3,278	2,933	4,758	3,845	5.5%

Top Export Markets for Steel Stranded Wire from Colombia in 2022:

United States (1240.0 tons)
Ecuador (308.4 tons)
Peru (75.8 tons)
Netherlands (44.6 tons)
Bolivia (34.2 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the steel stranded wire 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 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)

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