Guatemala: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in Guatemala

After two years of decline, the Guatemalan hot-rolled free-cutting steel market increased by X% to $X in 2022. Overall, consumption, however, showed a deep reduction. Hot-rolled free-cutting steel consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Hot-Rolled Free-Cutting Steel Production in Guatemala

In value terms, hot-rolled free-cutting steel production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared 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 remained at a lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports from Guatemala

In 2022, after three years of growth, there was significant decline in shipments abroad of hot-rolled bars in free-cutting steels, when their volume decreased by X% to X tons. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank dramatically in the following year.

In value terms, hot-rolled free-cutting steel exports declined markedly to $X in 2022. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked at $X in 2021, and then contracted sharply in the following year.

Exports by Country

Honduras (X tons), El Salvador (X tons) and Belize (X tons) were the main destinations of hot-rolled free-cutting steel exports from Guatemala, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belize (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X), El Salvador ($X) and Belize ($X) constituted the largest markets for hot-rolled free-cutting steel exported from Guatemala worldwide, with a combined X% share of total exports.

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

Export Prices by Country

The average hot-rolled free-cutting steel export price stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the export price continues to indicate a slight setback. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Belize ($X per ton) and El Salvador ($X per ton), while the average price for exports to Honduras ($X per ton) and Costa Rica ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belize (X%), while the prices for the other major destinations experienced a decline.

Hot-Rolled Free-Cutting Steel Imports

Imports into Guatemala

Hot-rolled free-cutting steel imports into Guatemala soared to X tons in 2022, rising by X% compared with the previous year's figure. In general, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, hot-rolled free-cutting steel imports surged to $X in 2022. Over the period under review, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, El Salvador (X tons) constituted the largest hot-rolled free-cutting steel supplier to Guatemala, with a X% share of total imports. Moreover, hot-rolled free-cutting steel imports from El Salvador exceeded the figures recorded by the second-largest supplier, Honduras (X tons), fourfold. Mexico (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from El Salvador amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (X% per year) and Mexico (X% per year).

In value terms, El Salvador ($X) constituted the largest supplier of hot-rolled bars in free-cutting steels to Guatemala, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with a X% share of total imports. It was followed by Honduras, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from El Salvador amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Honduras (X% per year).

Import Prices by Country

In 2022, the average hot-rolled free-cutting steel import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, showed a slight downturn. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

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 Mexico ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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