Latin America and the Caribbean: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in Latin America and the Caribbean

The Latin American free-cutting steel wire rod market declined to $X in 2022, approximately equating the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level of $X, leveling off in the following year.

Production of Wire Rod Of Free-Cutting Steel in Latin America and the Caribbean

In value terms, free-cutting steel wire rod production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Wire Rod Of Free-Cutting Steel

Exports in Latin America and the Caribbean

After two years of decline, shipments abroad of wire rod of free-cutting steel increased by X% to X tons in 2022. In general, exports, however, continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, free-cutting steel wire rod exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Trinidad and Tobago (X tons) represented the largest exporter of wire rod of free-cutting steel, making up X% of total exports. Mexico (X tons) ranks second in terms of the total exports with a X% share, followed by Brazil (X%) and Argentina (X%). Chile (X tons) followed a long way behind the leaders.

Exports from Trinidad and Tobago decreased at an average annual rate of X% from 2012 to 2022. At the same time, Brazil (X%) and Chile (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Mexico experienced a relatively flat trend pattern. By contrast, Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Mexico and Chile increased by X, X and X percentage points, respectively.

In value terms, Trinidad and Tobago ($X) remains the largest free-cutting steel wire rod supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by Brazil, with a X% share.

In Trinidad and Tobago, free-cutting steel wire rod exports plunged by 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: Mexico (X% per year) and Brazil (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, remaining constant against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Chile ($X per ton) was amongst the lowest.

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

Imports of Wire Rod Of Free-Cutting Steel

Imports in Latin America and the Caribbean

In 2022, the amount of wire rod of free-cutting steel imported in Latin America and the Caribbean declined to X tons, reducing by X% on the previous year's figure. In general, imports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, free-cutting steel wire rod imports expanded markedly to $X in 2022. Overall, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

The Dominican Republic prevails in imports structure, finishing at X tons, which was near X% of total imports in 2022. It was distantly followed by Guatemala (X tons), comprising a X% share of total imports. Peru (X tons), Mexico (X tons) and Brazil (X tons) took a relatively small share of total imports.

The Dominican Republic was also the fastest-growing in terms of the wire rod of free-cutting steel imports, with a CAGR of X% from 2012 to 2022. At the same time, Peru (X%) and Guatemala (X%) displayed positive paces of growth. By contrast, Mexico (X%) and Brazil (X%) illustrated a downward trend over the same period. While the share of the Dominican Republic (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Guatemala (X p.p.), Mexico (X p.p.) and Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported wire rod of free-cutting steel in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Guatemala ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

In the Dominican Republic, free-cutting steel wire rod imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guatemala (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked 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 ($X per ton), while Guatemala ($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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