Colombia: Market for Flat-Rolled Products Of Silicon-Electrical Steel 2024

Market Size for Flat-Rolled Products Of Silicon-Electrical Steel in Colombia

The Colombian silicon-electrical steel flat-rolled product market surged to $X in 2022, increasing by 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 recorded a perceptible expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports from Colombia

Silicon-electrical steel flat-rolled product exports from Colombia amounted to X tons in 2022, growing by X% on 2021. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, silicon-electrical steel flat-rolled product exports fell to $X in 2022. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

China (X tons) was the main destination for silicon-electrical steel flat-rolled product exports from Colombia, with a X% share of total exports. Moreover, silicon-electrical steel flat-rolled product exports to China exceeded the volume sent to the second major destination, Ecuador (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Peru (X% per year).

In value terms, China ($X) remains the key foreign market for flat-rolled products of silicon-electrical steel exports from Colombia, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Peru (X% per year).

Export Prices by Country

The average silicon-electrical steel flat-rolled product export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price continues to indicate a slight setback. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to China ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports into Colombia

In 2022, the amount of flat-rolled products of silicon-electrical steel imported into Colombia soared to X tons, with an increase of X% compared with 2021 figures. In general, total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silicon-electrical steel flat-rolled product imports soared to $X in 2022. Over the period under review, imports recorded strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest silicon-electrical steel flat-rolled product supplier to Colombia, accounting for a X% share of total imports. Moreover, silicon-electrical steel flat-rolled product imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at 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 ($X) constituted the largest supplier of flat-rolled products of silicon-electrical steel to Colombia, comprising X% of total imports. The second position in the ranking was held by Japan ($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 stood at 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

In 2022, the average silicon-electrical steel flat-rolled product import price amounted to $X per ton, rising by X% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, silicon-electrical steel flat-rolled product import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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