Chile: Market for Hot-Rolled Steel Bars and Rods 2025

Market Size for Hot-Rolled Steel Bars and Rods in Chile

The Chilean market for hot-rolled steel bars and rods was estimated at $X in 2021, approximately reflecting the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +69.0% against 2012 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the near future.

Production of Hot-Rolled Steel Bars and Rods in Chile

In value terms, hot-rolled steel bar and rod production declined to $X in 2021 estimated in export price. In general, production saw a prominent increase. The growth pace was the most rapid in 2013 when the production volume increased by 20% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then fell in the following year.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Chile

In 2021, the amount of hot-rolled steel bars and rods exported from Chile skyrocketed to X tons, growing by 44% on 2020 figures. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 237% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, hot-rolled steel bar and rod exports soared to $X in 2021. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 232% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Peru (X tons) was the main destination for hot-rolled steel bar and rod exports from Chile, with a 72% share of total exports. Moreover, hot-rolled steel bar and rod exports to Peru exceeded the volume sent to the second major destination, Ecuador (X tons), sixfold. Mexico (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Peru amounted to +25.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+36.8% per year) and Mexico (+246.6% per year).

In value terms, Peru ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Chile, comprising 74% of total exports. The second position in the ranking was held by Mexico ($X), with an 11% share of total exports. It was followed by Ecuador, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru totaled +26.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+187.2% per year) and Ecuador (+31.5% per year).

Export Prices by Country

In 2021, the average export price for hot-rolled steel bars and rods amounted to $X per ton, surging by 47% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Chile

Hot-rolled steel bar and rod imports into Chile skyrocketed to X tons in 2021, rising by 63% compared with 2020 figures. The total import volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod imports surged to $X in 2021. In general, imports saw a tangible increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), China (X tons) and Mexico (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Chile, with a combined 80% share of total imports. These countries were followed by South Korea, Argentina, Brazil, Peru and Spain, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +81.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel bar and rod suppliers to Chile were Turkey ($X), China ($X) and South Korea ($X), together comprising 80% of total imports.

South Korea, with a CAGR of +69.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for hot-rolled steel bars and rods amounted to $X per ton, increasing by 41% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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