MERCOSUR: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in MERCOSUR

The MERCOSUR steel and iron articles market shrank to $X in 2022, dropping by -5.2% against the previous year. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +3.8% against 2020 indices. 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 MERCOSUR

In value terms, steel and iron articles production fell slightly to $X in 2022 estimated in export price. The total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 57% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Articles Of Iron Or Steel

Exports in MERCOSUR

In 2022, overseas shipments of articles of iron or steel increased by 31% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, saw a abrupt decrease. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel and iron articles exports skyrocketed to $X in 2022. In general, exports, however, recorded a abrupt slump. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil represented the major exporter of articles of iron or steel in MERCOSUR, with the volume of exports finishing at X tons, which was near 55% of total exports in 2022. Argentina (X tons) held the second position in the ranking, distantly followed by Chile (X tons), Colombia (X tons) and Suriname (X tons). All these countries together held near 39% share of total exports. The following exporters - Peru (X tons) and Guyana (X tons) - each recorded a 4% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to steel and iron articles exports from Brazil stood at -6.7%. At the same time, Guyana (+74.2%) and Suriname (+53.0%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +74.2% from 2012-2022. Peru and Colombia experienced a relatively flat trend pattern. By contrast, Argentina (-5.6%) and Chile (-6.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Suriname, Colombia and Guyana increased by +4.6, +2.6 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest steel and iron articles supplier in MERCOSUR, comprising 59% of total exports. The second position in the ranking was held by Argentina ($X), with a 16% share of total exports. It was followed by Chile, with a 6.3% share.

In Brazil, steel and iron articles exports declined by an average annual rate of -6.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-8.0% per year) and Chile (-10.0% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, surging by 3.3% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 11% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (+18.7%), while the other leaders experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports in MERCOSUR

Steel and iron articles imports fell to X tons in 2022, which is down by -3.6% on 2021 figures. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 33%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, steel and iron articles imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

Brazil represented the major importer of articles of iron or steel in MERCOSUR, with the volume of imports reaching X tons, which was near 41% of total imports in 2022. It was distantly followed by Chile (X tons), Argentina (X tons), Peru (X tons) and Colombia (X tons), together generating a 49% share of total imports. The following importers - Uruguay (X tons) and Ecuador (X tons) - together made up 6.3% of total imports.

From 2012 to 2022, average annual rates of growth with regard to steel and iron articles imports into Brazil stood at +2.7%. At the same time, Chile (+10.4%), Uruguay (+5.1%) and Peru (+3.3%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +10.4% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Ecuador (-5.3%) and Argentina (-7.0%) illustrated a downward trend over the same period. While the share of Chile (+12 p.p.), Brazil (+7.8 p.p.) and Peru (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ecuador (-2.1 p.p.) and Argentina (-13.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported articles of iron or steel in MERCOSUR, comprising 53% of total imports. The second position in the ranking was held by Argentina ($X), with a 14% share of total imports. It was followed by Chile, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at +4.5%. In the other countries, the average annual rates were as follows: Argentina (+0.8% per year) and Chile (+7.8% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, growing by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Peru ($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 (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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