Colombia: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Colombia

The Colombian cold-rolled steel products market fell remarkably to $X in 2022, with a decrease of X% 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). Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank sharply in the following year.

Cold-Rolled Steel Products Exports

Exports from Colombia

In 2022, overseas shipments of flat-rolled products of iron or steel (not further worked than cold-rolled) decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, showed a slight expansion. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell significantly in the following year.

In value terms, cold-rolled steel products exports declined rapidly to $X in 2022. In general, exports, however, showed noticeable growth. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then declined notably in the following year.

Exports by Country

Venezuela (X tons), Costa Rica (X tons) and Ecuador (X tons) were the main destinations of cold-rolled steel products exports from Colombia, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cold-rolled steel products exported from Colombia were Venezuela ($X), Costa Rica ($X) and Ecuador ($X), together accounting for X% of total exports.

Ecuador, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cold-rolled steel products export price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Costa Rica ($X 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) (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Cold-Rolled Steel Products Imports

Imports into Colombia

Cold-rolled steel products imports into Colombia reduced to X tons in 2022, shrinking by X% compared with 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, cold-rolled steel products imports declined remarkably to $X in 2022. Overall, imports showed a mild setback. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest cold-rolled steel products supplier to Colombia, accounting for a X% share of total imports. Moreover, cold-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to Colombia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The average cold-rolled steel products import price stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the import price showed a mild setback. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, average import prices reached the maximum at $X 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) ($X per ton), while the price for Venezuela ($X 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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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