Latin America and the Caribbean: Market for Flat Hot-Rolled Steel in Coils 2024

Market Size for Flat Hot-Rolled Steel in Coils in Latin America and the Caribbean

The Latin American flat hot-rolled steel coils market soared to $X in 2023, with an increase of X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Production of Flat Hot-Rolled Steel in Coils in Latin America and the Caribbean

In value terms, flat hot-rolled steel coils production expanded significantly to $X in 2023 estimated in export price. In general, production continues to indicate a mild reduction. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Exports of Flat Hot-Rolled Steel in Coils

Exports in Latin America and the Caribbean

In 2023, after two years of growth, there was significant decline in shipments abroad of flat hot-rolled steel in coils, when their volume decreased by X% to X tons. In general, exports saw a pronounced contraction. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, flat hot-rolled steel coils exports dropped sharply to $X in 2023. Overall, exports showed a perceptible slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2022, and then dropped rapidly in the following year.

Exports by Country

In 2023, Brazil (X tons) was the major exporter of flat hot-rolled steel in coils, committing X% of total exports. Mexico (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (X%).

From 2012 to 2023, the biggest increases were recorded for Argentina (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest flat hot-rolled steel coils supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Argentina ($X), with a combined X% share of total exports.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, waning by X% against the previous year. In general, the export price, however, saw pronounced growth. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Imports of Flat Hot-Rolled Steel in Coils

Imports in Latin America and the Caribbean

In 2023, approx. X tons of flat hot-rolled steel in coils were imported in Latin America and the Caribbean; jumping by X% on the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, flat hot-rolled steel coils imports surged to $X in 2023. Total imports indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Mexico represented the main importer of flat hot-rolled steel in coils in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. Colombia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (X%), Chile (X%) and Ecuador (X%). Peru (X tons) and Guatemala (X tons) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2023. At the same time, Chile (X%), Brazil (X%), Ecuador (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Colombia and Peru experienced a relatively flat trend pattern. Chile (X p.p.) and Brazil (X p.p.) significantly strengthened its position in terms of the total imports, while Peru and Colombia saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported flat hot-rolled steel in coils in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with a X% share of total imports. It was followed by Brazil, with an X% share.

In Mexico, flat hot-rolled steel coils imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Brazil (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, which is down by X% against the previous year. Import price indicated a slight increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, flat hot-rolled steel coils import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mexico ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform