Chile: Base Metal Hook Market 2023

Base Metal Hook Market Size in Chile

The Chilean base metal hook market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, saw a relatively flat trend pattern. Base metal hook consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Base Metal Hook Exports

Exports from Chile

In 2021, approx. X tons of base metal hooks, eyes and eyelets were exported from Chile; surging by 126% on the previous year's figure. In general, exports saw a resilient expansion. The pace of growth was the most pronounced in 2013 when exports increased by 1,119% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, base metal hook exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 1,459%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Bolivia (X tons), Peru (X kg) and Paraguay (X kg) were the main destinations of base metal hook exports from Chile, with a combined 92% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Paraguay (with a CAGR of +44.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for base metal hook exported from Chile were Bolivia ($X), Peru ($X) and Paraguay ($X), together accounting for 90% of total exports.

In terms of the main countries of destination, Paraguay, with a CAGR of +46.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average base metal hook export price amounted to $X per ton, reducing by -20.1% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, base metal hook export price increased by +8.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 36% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced rapidly in the following year.

Average prices varied somewhat for the major overseas markets. In 2021, the countries with the highest prices were Uruguay ($X per ton) and Paraguay ($X per ton), while the average price for exports to Peru ($X per ton) and Bolivia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into Chile

After two years of decline, purchases abroad of base metal hooks, eyes and eyelets increased by 144% to X tons in 2021. In general, imports showed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, base metal hook imports surged to $X in 2021. Over the period under review, imports, however, saw a pronounced curtailment. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of base metal hook to Chile, with a 86% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), ninefold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-14.7% per year) and Italy (+45.5% per year).

In value terms, China ($X) constituted the largest supplier of base metal hook to Chile, comprising 64% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-12.6% per year) and Italy (+32.2% per year).

Import Prices by Country

In 2021, the average base metal hook import price amounted to $X per ton, which is down by -28.6% against the previous year. Over the period under review, the import price saw a deep slump. The pace of growth appeared the most rapid in 2017 when the average import price increased by 33% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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