Latin America and the Caribbean: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Latin America and the Caribbean

The Latin American market for raw steel and steel semi-finished products declined to $X in 2022, falling by X% against the previous year. In general, consumption showed a slight curtailment. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Raw Steel And Steel Semi-Finished Products in Latin America and the Caribbean

In value terms, production of raw steel and steel semi-finished products dropped slightly to $X in 2022 estimated in export price. Overall, production showed a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Raw Steel And Steel Semi-Finished Products

Exports in Latin America and the Caribbean

In 2022, approx. X tons of raw steel and steel semi-finished products were exported in Latin America and the Caribbean; which is down by X% against the previous year. The total export volume 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 2015 with an increase of X% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, exports of raw steel and steel semi-finished products dropped modestly to $X in 2022. Over the period under review, exports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then fell modestly in the following year.

Exports by Country

Brazil dominates products structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Mexico (X tons), generating a X% share of total exports.

Brazil was also the fastest-growing in terms of the raw steel and steel semi-finished products exports, with a CAGR of X% from 2012 to 2022. Mexico (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil increased by X percentage points.

In value terms, Brazil ($X) remains the largest raw steel and steel semi-finished products supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports.

In Brazil, exports of raw steel and steel semi-finished products increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible increase. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Mexico amounted to $X per ton.

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

Imports of Raw Steel And Steel Semi-Finished Products

Imports in Latin America and the Caribbean

In 2022, the amount of raw steel and steel semi-finished products imported in Latin America and the Caribbean dropped markedly to X tons, waning by X% against the year before. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, imports of raw steel and steel semi-finished products rose remarkably to $X in 2022. In general, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

In 2022, the Dominican Republic (X tons), distantly followed by Argentina (X tons), Guatemala (X tons), Peru (X tons), Costa Rica (X tons), Brazil (X tons), Colombia (X tons), Mexico (X tons) and Honduras (X tons) were the main importers of raw steel and steel semi-finished products, together making up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to raw steel and steel semi-finished products imports into the Dominican Republic stood at X%. At the same time, Brazil (X%), Guatemala (X%), Colombia (X%), Honduras (X%), Peru (X%) and Costa Rica (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Argentina (X%) and Mexico (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Dominican Republic, Guatemala, Brazil, Colombia and Peru increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported raw steel and steel semi-finished products in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with an X% share of total imports. It was followed by Argentina, with a X% share.

In Mexico, imports of raw steel and steel semi-finished products increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Dominican Republic (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. Overall, the import price continues to indicate resilient growth. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Honduras ($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 other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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