Chile: Market for Raw Steel And Steel Semi-Finished Products 2025

Market Size for Raw Steel And Steel Semi-Finished Products in Chile

The Chilean market for raw steel and steel semi-finished products was finally on the rise to reach $X in 2021, after eight years of decline. In general, consumption, however, faced a abrupt descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Raw Steel And Steel Semi-Finished Products in Chile

In value terms, production of raw steel and steel semi-finished products soared to $X in 2021 estimated in export price. Over the period under review, production, however, faced a significant contraction. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Chile

In 2021, approx. X tons of raw steel and steel semi-finished products were exported from Chile; reducing by -99.5% against the previous year. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 10,243%. As a result, the exports reached the peak of X tons, and then shrank rapidly in the following year.

In value terms, exports of raw steel and steel semi-finished products declined markedly to $X in 2021. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 6,636%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Peru (X tons) was the main destination for exports of raw steel and steel semi-finished products from Chile, with a 99% share of total exports. It was followed by Ecuador (X kg), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Peru stood at +23.7%.

In value terms, Peru ($X) emerged as the key foreign market for raw steel and steel semi-finished products exports from Chile, comprising 87% of total exports. The second position in the ranking was held by Ecuador ($X), with a 6.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Peru was relatively modest.

Export Prices by Country

In 2021, the average export price for raw steel and steel semi-finished products amounted to $X per ton, jumping by 35% against the previous year. Over the period under review, the export price, however, continues to indicate a deep contraction. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Peru amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+534.9%).

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Chile

For the third year in a row, Chile recorded decline in overseas purchases of raw steel and steel semi-finished products, which decreased by -19.8% to X tons in 2021. Overall, imports saw a dramatic contraction. The pace of growth appeared the most rapid in 2016 with an increase of 11,097% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, imports of raw steel and steel semi-finished products dropped dramatically to $X in 2021. In general, imports showed a significant curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 2,865% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2021, Argentina (X tons) constituted the largest supplier of raw steel and steel semi-finished products to Chile, accounting for a 51% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Argentina totaled -9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-13.9% per year) and Mexico (-63.5% per year).

In value terms, the largest raw steel and steel semi-finished products suppliers to Chile were Argentina ($X), Brazil ($X) and China ($X), with a combined 65% share of total imports.

China, with a CAGR of +44.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for raw steel and steel semi-finished products stood at $X per ton in 2021, which is down by -13.1% against the previous year. Overall, the import price, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2020 when the average import price increased by 249% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+267.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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