Report Update Apr 1, 2024

Cuba - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Cuba

The Cuban market for hot-rolled steel bars and rods stood at $X in 2021, with an increase of 5.4% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Production of Hot-Rolled Steel Bars and Rods in Cuba

In value terms, hot-rolled steel bar and rod production rose to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 37% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

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Exports of Hot-Rolled Steel Bars and Rods

Exports from Cuba

In 2021, shipments abroad of hot-rolled steel bars and rods increased by 8.4% to X tons, rising for the sixth consecutive year after three years of decline. In general, exports, however, saw a deep slump. The growth pace was the most rapid in 2018 when exports increased by 11%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod exports expanded modestly to $X in 2021. Over the period under review, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2015 when exports increased by 4.3% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Guyana (X tons) was the main destination for hot-rolled steel bar and rod exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Guyana totaled +77.3%.

In value terms, Guyana ($X) also remains the key foreign market for hot-rolled steel bars and rods exports from Cuba.

From 2012 to 2021, the average annual growth rate of value to Guyana totaled +81.1%.

Export Prices by Country

In 2021, the average export price for hot-rolled steel bars and rods amounted to $X per ton, which is down by -5.1% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 44% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Guyana.

From 2012 to 2021, the rate of growth in terms of prices for Venezuela amounted to +45.2% per year.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Cuba

Hot-rolled steel bar and rod imports into Cuba soared to X tons in 2021, growing by 70% against the previous year's figure. In general, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 84% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod imports skyrocketed to $X in 2021. Overall, imports, however, recorded a deep slump. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Trinidad and Tobago (X tons), Honduras (X tons) and Spain (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Cuba, with a combined 64% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Trinidad and Tobago (with a CAGR of +8.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Mexico ($X) constituted the largest supplier of hot-rolled steel bars and rods to Cuba, comprising 37% of total imports. The second position in the ranking was taken by Honduras ($X), with an 18% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico totaled +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (-9.3% per year) and China (-12.6% per year).

Import Prices by Country

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2021, picking up by 34% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 41%. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+24.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hot-rolled steel bars and rods in the world?

China constituted the country with the largest volume of hot-rolled steel bar and rod consumption, comprising approx. 73% of total volume. Moreover, hot-rolled steel bar and rod consumption in China exceeded the figures recorded by the second-largest consumer, India, more than tenfold. The third position in this ranking was held by South Korea, with a 2.7% share.

What are the largest producers of hot-rolled steel bars and rods in the world?

China constituted the country with the largest volume of hot-rolled steel bar and rod production, comprising approx. 73% of total volume. Moreover, hot-rolled steel bar and rod production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. South Korea ranked third in terms of total production with a 2.6% share.

What are the leading suppliers of hot-rolled steel bars and rods to Cuba?

In value terms, Mexico constituted the largest supplier of hot-rolled steel bars and rods to Cuba, comprising 37% of total imports. The second position in the ranking was taken by Honduras, with an 18% share of total imports. It was followed by China, with an 11% share.

What are the leading importers of hot-rolled steel bars and rods from Cuba?

In value terms, Guyana remains the key foreign market for hot-rolled steel bars and rods exports from Cuba.

What is the average export price for hot-rolled steel bars and rods in Cuba?

In 2021, the average export price for hot-rolled steel bars and rods amounted to $962 per ton, waning by -5.1% against the previous year.

What is the average import price for hot-rolled steel bars and rods in Cuba?

The average import price for hot-rolled steel bars and rods stood at $939 per ton in 2021, surging by 34% against the previous year.

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in Cuba. 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 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
Prodcom 24106120 - Wire rod of free-cutting steel
Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
Prodcom 24106140 - Wire rod for tyre cord
Prodcom 24106190 - Other wire rod (of non-alloy steel)
Prodcom 24106210 - Hot-rolled concrete reinforcing bars
Prodcom 24106230 - Hot-rolled bars in free-cutting steels
Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
Prodcom 24106410 - Hot-rolled round bars, of stainless steel
Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
Prodcom 24106630 - Hot-rolled bars in bearing steels
Prodcom 24106640 - Hot-rolled bars in tool steels
Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
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