Brazil: Metal Wool Market 2024

Metal Wool Market Size in Brazil

The Brazilian metal wool market dropped slightly to $X in 2022, with a decrease of -3.9% against the previous year. In general, consumption recorded a noticeable setback. The pace of growth appeared the most rapid in 2021 with an increase of 9.6%. Metal wool consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Metal Wool Production in Brazil

In value terms, metal wool production dropped modestly to $X in 2022 estimated in export price. In general, production recorded a perceptible descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by 7.8% against the previous year. Metal wool production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Metal Wool Exports

Exports from Brazil

In 2022, the amount of iron or steel wool exported from Brazil skyrocketed to X tons, jumping by 23% against the year before. Overall, exports, however, saw a pronounced curtailment. The growth pace was the most rapid in 2016 when exports increased by 30%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, metal wool exports soared to $X in 2022. In general, exports, however, saw a deep downturn. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay (X tons) was the main destination for metal wool exports from Brazil, accounting for a 60% share of total exports. Moreover, metal wool exports to Paraguay exceeded the volume sent to the second major destination, Bolivia (X tons), fourfold. Angola (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Paraguay totaled -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-4.8% per year) and Angola (-7.6% per year).

In value terms, Paraguay ($X) remains the key foreign market for iron or steel wool exports from Brazil, comprising 60% of total exports. The second position in the ranking was held by Bolivia ($X), with a 12% share of total exports. It was followed by Angola, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Paraguay amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-10.5% per year) and Angola (-10.4% per year).

Export Prices by Country

The average metal wool export price stood at $X per ton in 2022, surging by 25% against the previous year. Overall, the export price, however, showed a pronounced contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Paraguay ($X per ton) and Guyana ($X per ton), while the average price for exports to Bolivia ($X per ton) and Angola ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guyana (-1.2%), while the prices for the other major destinations experienced a decline.

Metal Wool Imports

Imports into Brazil

In 2022, imports of iron or steel wool into Brazil rose modestly to X tons, growing by 2.1% compared with 2021. Over the period under review, imports, however, continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2017 with an increase of 46%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal wool imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 60%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal wool supplier to Brazil, accounting for a 81% share of total imports. Moreover, metal wool imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+7.7% per year) and Vietnam (+50.4% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wool to Brazil, comprising 86% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+9.0% per year) and Vietnam (+59.5% per year).

Import Prices by Country

The average metal wool import price stood at $X per ton in 2022, surging by 14% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal wool import price increased by +40.9% against 2018 indices. The pace of growth was the most pronounced in 2021 an increase of 26% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+24.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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