Latin America and the Caribbean: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2024

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Latin America and the Caribbean

The Latin American market for hot-rolled wire rod in coil of stainless steel shrank slightly to $X in 2023, remaining relatively unchanged against the previous year. In general, consumption, however, saw a slight shrinkage. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Latin America and the Caribbean

In value terms, hot-rolled wire stainless steel rod production fell modestly to $X in 2023 estimated in export price. The total production indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports in Latin America and the Caribbean

In 2023, the amount of hot-rolled wire rod in coil of stainless steel exported in Latin America and the Caribbean stood at X tons, picking up by X% on 2022 figures. In general, exports recorded resilient growth. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, hot-rolled wire stainless steel rod exports expanded rapidly to $X in 2023. Overall, exports, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The Dominican Republic prevails in exports structure, reaching X tons, which was near X% of total exports in 2023. Peru (X tons) took a minor share of total exports.

Exports from the Dominican Republic increased at an average annual rate of X% from 2012 to 2023. At the same time, Peru (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of the Dominican Republic and Peru increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) remains the largest hot-rolled wire stainless steel rod supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Peru ($X), with an X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in the Dominican Republic stood at X%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, with an increase of X% against the previous year. In general, the export price, however, faced a deep downturn. The growth pace was the most rapid in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the Dominican Republic amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Peru (X%).

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports in Latin America and the Caribbean

In 2023, purchases abroad of hot-rolled wire rod in coil of stainless steel increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, showed a slight downturn. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod imports contracted modestly to $X in 2023. In general, imports, however, saw a perceptible reduction. The growth pace was the most rapid in 2017 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Brazil represented the main importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Mexico (X tons), committing a X% share of total imports. Costa Rica (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Costa Rica (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

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

In Brazil, hot-rolled wire stainless steel rod imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Mexico (X% per year) and Costa Rica (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Costa Rica (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform