Dominican Republic: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in the Dominican Republic

The Dominican hot-rolled free-cutting steel market reduced markedly to $X in 2022, dropping by X% against the previous year. In general, consumption recorded a sharp descent. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Hot-Rolled Free-Cutting Steel Production in the Dominican Republic

In value terms, hot-rolled free-cutting steel production declined slightly to $X in 2022 estimated in export price. Overall, production, however, saw a slight contraction. The growth pace was the most rapid in 2018 when the production volume increased by X%. Hot-rolled free-cutting steel production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Hot-Rolled Free-Cutting Steel Exports

Exports from the Dominican Republic

In 2022, hot-rolled free-cutting steel exports from the Dominican Republic soared to X tons, growing by X% compared with the previous year. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled free-cutting steel exports soared to $X in 2022. Over the period under review, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of X%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Haiti (X tons) was the main destination for hot-rolled free-cutting steel exports from the Dominican Republic, accounting for a X% share of total exports. Moreover, hot-rolled free-cutting steel exports to Haiti exceeded the volume sent to the second major destination, Guyana (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (X% per year) and Grenada (X% per year).

In value terms, Haiti ($X) remains the key foreign market for hot-rolled bars in free-cutting steels exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was held by Guyana ($X), with a X% share of total exports.

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

Export Prices by Country

The average hot-rolled free-cutting steel export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the export price continues to indicate a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

Hot-Rolled Free-Cutting Steel Imports

Imports into the Dominican Republic

For the fourth year in a row, the Dominican Republic recorded decline in purchases abroad of hot-rolled bars in free-cutting steels, which decreased by X% to X tons in 2022. In general, imports faced a sharp curtailment. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, hot-rolled free-cutting steel imports shrank remarkably to $X in 2022. Over the period under review, imports continue to indicate a sharp contraction. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main supplier of hot-rolled free-cutting steel to the Dominican Republic, with a X% share of total imports. It was followed by Spain (X kg), with less than X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%.

In value terms, the United States ($X) constituted the largest supplier of hot-rolled bars in free-cutting steels to the Dominican Republic, comprising X% of total imports. The second position in the ranking was held by Spain ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%.

Import Prices by Country

In 2022, the average hot-rolled free-cutting steel import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price saw mild growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 Spain ($X per ton), while the price for the United States amounted to $X per ton.

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

Source: IndexBox Platform

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