Report Update Apr 1, 2024

Cuba - Flat-Rolled Products of Iron or Steel (Not Further Worked Than Hot-Rolled) - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Cuba

In 2021, the Cuban hot-rolled steel products market was finally on the rise to reach $X for the first time since 2015, thus ending a five-year declining trend. Overall, consumption, however, continues to indicate a deep reduction. Hot-rolled steel products consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Hot-Rolled Steel Products Exports

Exports from Cuba

In 2020, shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) decreased by -98.6% to X kg, falling for the second year in a row after two years of decline. In general, exports faced a significant contraction. The growth pace was the most rapid in 2016 when exports increased by 53,260% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2020, the exports remained at a lower figure.

In value terms, hot-rolled steel products exports shrank markedly to $X in 2020. Over the period under review, exports saw a dramatic slump. The most prominent rate of growth was recorded in 2014 when exports increased by 37,776% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2020, the growth of the exports failed to regain momentum.

Exports by Country

Angola (X kg) was the main destination for hot-rolled steel products exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of volume to Angola was relatively modest.

In value terms, Angola ($X) emerged as the key foreign market for flat-rolled products of iron or steel (not further worked than hot-rolled) exports from Cuba.

From 2012 to 2020, the average annual rate of growth in terms of value to Angola was relatively modest.

Export Prices by Country

The average hot-rolled steel products export price stood at $X per ton in 2020, falling by -65.1% against the previous year. Over the period under review, the export price saw a slight shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by 263%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2020, 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 Angola.

From 2012 to 2020, the rate of growth in terms of prices for Jordan amounted to 0.0% per year.

Hot-Rolled Steel Products Imports

Imports into Cuba

In 2021, supplies from abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 172% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, continue to indicate a abrupt slump. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled steel products imports soared to $X in 2021. Overall, imports, however, saw a abrupt descent. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Spain (X tons) and Morocco (X tons) were the main suppliers of hot-rolled steel products imports to Cuba, together accounting for 66% of total imports. These countries were followed by Turkey, Canada, Ukraine, the Netherlands and Mexico, which together accounted for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +11.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest hot-rolled steel products suppliers to Cuba were China ($X), Spain ($X) and Morocco ($X), together accounting for 68% of total imports. These countries were followed by Turkey, Canada, Ukraine, Mexico and the Netherlands, which together accounted for a further 12%.

Turkey, with a CAGR of +12.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average hot-rolled steel products import price stood at $X per ton in 2021, with an increase of 9.4% against the previous year. Overall, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled steel products import price increased by +90.0% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 34% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Ukraine ($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 (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for flat-rolled products of iron or steel (not further worked than hot-rolled) in the world?

China remains the largest hot-rolled steel products consuming country worldwide, accounting for 53% of total volume. Moreover, hot-rolled steel products consumption in China exceeded the figures recorded by the second-largest consumer, India, sevenfold. The United States ranked third in terms of total consumption with a 6.9% share.

What are the largest producers of flat-rolled products of iron or steel (not further worked than hot-rolled) in the world?

China remains the largest hot-rolled steel products producing country worldwide, accounting for 54% of total volume. Moreover, hot-rolled steel products production in China exceeded the figures recorded by the second-largest producer, India, sevenfold. South Korea ranked third in terms of total production with a 6.4% share.

What are the leading suppliers of flat-rolled products of iron or steel (not further worked than hot-rolled) to Cuba?

In value terms, China, Spain and Morocco appeared to be the largest hot-rolled steel products suppliers to Cuba, with a combined 68% share of total imports. Turkey, Canada, Ukraine, Mexico and the Netherlands lagged somewhat behind, together comprising a further 12%.

What are the leading importers of flat-rolled products of iron or steel (not further worked than hot-rolled) from Cuba?

In value terms, Angola $27) emerged as the key foreign market for flat-rolled products of iron or steel not further worked than hot-rolled) exports from Cuba.

What is the average export price for flat-rolled products of iron or steel (not further worked than hot-rolled) in Cuba?

The average hot-rolled steel products export price stood at $692 per ton in 2020, dropping by -65.1% against the previous year.

What is the average import price for flat-rolled products of iron or steel (not further worked than hot-rolled) in Cuba?

In 2021, the average hot-rolled steel products import price amounted to $1,241 per ton, picking up by 9.4% against the previous year.

This report provides an in-depth analysis of the hot-rolled steel products market 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 24103110 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, simply hot-rolled, not clad, plated or coated, in coils
Prodcom 24103130 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, not in coils, simply hot-rolled, not clad, plated or coated, w ith patterns in relief directly due to the rolling process and products of a thickness < 4,75 mm, without patterns in relief
Prodcom 24103150 - Flat-rolled products, of iron or non-alloy steel, of a width . .600 mm (excluding
Prodcom 24103210 - Flat-rolled products of iron or non-alloy steel, simply hot-rolled on four faces or in a closed box pass, not clad, plated or coated, of a width of > .150 mm but < .600 mm and a thickness of . 4 mm, not in coils, without patterns in relief, commonly
Prodcom 24103230 - Flat-rolled products of iron or non-alloy steel, of a width < .600 mm, simply hot-rolled, not clad, plated or coated (excluding
Prodcom 24103330 - Plates and sheets produced by cutting from hot-rolled wide strip of a width of .600 mm or more, of stainless steel
Prodcom 24103340 - Plates and sheets produced on a reversing mill (quarto) of a width of .600 mm or more and wide flats, of stainless steel
Prodcom 241033Z0 - Hot-rolled flat products in coil of a width . .600 mm, of stainless steel
Prodcom 241034Z0 - Hot-rolled flat products in coil of a width < .600 mm, of stainless steel
Prodcom 24103510 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, in coils (excluding products of high-speed or siliconelectrical steel)
Prodcom 24103520 - Flat-rolled products of high-speed steel, of a width . .600 mm, h ot-rolled or cold-rolled
Prodcom 24103530 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, not in coils (excluding organic coated products, p roducts of a thickness < 4,75 mm and products of high-
Prodcom 24103540 - Flat-rolled products of alloy steel other than stainless, of a width . .600 mm, not further worked than hot-rolled, not in coils, of a thickness of < 4,75 mm (excluding products of tool steel, high-speed steel or silicon-electrical steel)
Prodcom 24103600 - Flat-rolled products of alloy steel other than stainless, of a width of < .600 mm, not further worked than hot-rolled (excluding products of high-speed steel or silicon-electrical 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
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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