Uruguay: Market for Hot-Rolled Bars In Bearing Steels 2023

Market Size for Hot-Rolled Bars In Bearing Steels in Uruguay

The Uruguayan hot-rolled bearing steel bar market skyrocketed to $X in 2021, jumping by 71% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a abrupt shrinkage. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Uruguay

In 2015, the amount of hot-rolled bars in bearing steels exported from Uruguay shrank rapidly to X tons, reducing by -71.7% on the previous year. Over the period under review, exports showed a sharp decline. The exports peaked at X tons in 2014, and then declined notably in the following year.

In value terms, hot-rolled bearing steel bar exports shrank sharply to $X in 2015. In general, exports faced a dramatic descent. The exports peaked at $X in 2014, and then dropped remarkably in the following year.

Exports by Country

Colombia (X tons) was the main destination for hot-rolled bearing steel bar exports from Uruguay, with a approx. 100% share of total exports.

From 2014 to 2015, the average annual rate of growth in terms of volume to Colombia stood at -71.7%.

In value terms, Colombia ($X) also remains the key foreign market for hot-rolled bearing steel bar exports from Uruguay.

From 2014 to 2015, the average annual growth rate of value to Colombia totaled -68.7%.

Export Prices by Country

The average hot-rolled bearing steel bar export price stood at $X per ton in 2015, surging by 11% against the previous year. Over the period from 2014 to 2015, it increased at an average annual rate of +10.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2014 to 2015, the rate of growth in terms of prices for Colombia amounted to +10.9% per year.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Uruguay

In 2021, approx. X tons of hot-rolled bars in bearing steels were imported into Uruguay; rising by 69% against the year before. Over the period under review, imports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2015 when imports increased by 282% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, hot-rolled bearing steel bar imports surged to $X in 2021. In general, imports, however, faced a abrupt decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 241% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Argentina (X tons), Turkey (X tons) and Brazil (X tons) were the main suppliers of hot-rolled bearing steel bar imports to Uruguay, with a combined 98% share of total imports.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +19.4%), while purchases for the other leaders experienced a decline.

In value terms, Argentina ($X) constituted the largest supplier of hot-rolled bearing steel bar to Uruguay, comprising 70% of total imports. The second position in the ranking was taken by Turkey ($X), with a 23% share of total imports. It was followed by Chile, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-29.7% per year) and Chile (-37.0% per year).

Import Prices by Country

The average hot-rolled bearing steel bar import price stood at $X per ton in 2021, increasing by 2.7% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled bearing steel bar import price decreased by -3.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 71%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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