Latin America and the Caribbean: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in Latin America and the Caribbean

In 2022, the Latin American steel and iron articles market increased by X% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, enjoyed prominent growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Articles Of Iron Or Steel in Latin America and the Caribbean

In value terms, steel and iron articles production declined to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed perceptible growth. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Articles Of Iron Or Steel

Exports in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in shipments abroad of articles of iron or steel, when their volume decreased by X% to X tons. Overall, exports, however, continue to indicate a mild increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, steel and iron articles exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Brazil (X tons), mixing up a X% share of total exports. Argentina (X tons) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the articles of iron or steel exports, with a CAGR of X% from 2012 to 2022. Argentina (X%) and Brazil (X%) illustrated a downward trend over the same period. Mexico (X p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Brazil saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest steel and iron articles supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with an X% share of total exports.

In Mexico, steel and iron articles exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Argentina (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, jumping by X% against the previous year. In general, the export price showed a measured expansion. The pace of growth appeared the most rapid in 2015 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Mexico ($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 other leaders experienced mixed trends in the export price figures.

Imports of Articles Of Iron Or Steel

Imports in Latin America and the Caribbean

After four years of growth, overseas purchases of articles of iron or steel decreased by X% to X tons in 2022. Overall, imports, however, posted measured growth. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, steel and iron articles imports soared to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

Mexico prevails in imports structure, reaching X tons, which was near X% of total imports in 2022. Brazil (X tons) held a minor share of total imports.

Mexico was also the fastest-growing in terms of the articles of iron or steel imports, with a CAGR of X% from 2012 to 2022. At the same time, Brazil (X%) displayed positive paces of growth. From 2012 to 2022, the share of Mexico increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported articles of iron or steel in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at X%.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Mexico totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%).

Source: IndexBox Platform

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