Chile: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Chile

The Chilean cold-rolled steel products market contracted to $X in 2022, flattening at 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 relatively flat trend pattern. As a result, consumption reached the peak level of $X, leveling off in the following year.

Cold-Rolled Steel Products Exports

Exports from Chile

For the third consecutive year, Chile recorded decline in shipments abroad of flat-rolled products of iron or steel (not further worked than cold-rolled), which decreased by -65.8% to X tons in 2022. Over the period under review, exports recorded a abrupt slump. The growth pace was the most rapid in 2015 when exports increased by 21% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, cold-rolled steel products exports expanded sharply to $X in 2022. In general, total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -30.2% against 2017 indices. The growth pace was the most rapid in 2015 with an increase of 30% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bolivia (X tons), the Netherlands (X tons) and India (X tons) were the main destinations of cold-rolled steel products exports from Chile, together accounting for 65% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +62.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bolivia ($X) emerged as the key foreign market for flat-rolled products of iron or steel (not further worked than cold-rolled) exports from Chile, comprising 48% of total exports. The second position in the ranking was held by Argentina ($X), with a 16% share of total exports. It was followed by the Netherlands, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bolivia totaled +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+50.8% per year) and the Netherlands (+74.7% per year).

Export Prices by Country

In 2022, the average cold-rolled steel products export price amounted to $X per ton, rising by 222% against the previous year. In general, the export price enjoyed a strong expansion. 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 external markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Chile

In 2022, approx. X tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were imported into Chile; dropping by -16.6% on the year before. In general, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 68%. As a result, imports attained the peak of X tons, and then shrank dramatically in the following year.

In value terms, cold-rolled steel products imports rose rapidly to $X in 2022. Overall, imports, however, posted modest growth. The pace of growth appeared the most rapid in 2021 when imports increased by 138% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest cold-rolled steel products supplier to Chile, accounting for a 73% share of total imports. Moreover, cold-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), tenfold. The third position in this ranking was held by Brazil (X tons), with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+26.0% per year) and Brazil (-13.8% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to Chile, comprising 65% of total imports. The second position in the ranking was taken by Japan ($X), with a 6.2% share of total imports. It was followed by Malaysia, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+27.3% per year) and Malaysia (+44.1% per year).

Import Prices by Country

The average cold-rolled steel products import price stood at $X per ton in 2022, rising by 26% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products import price increased by +78.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 41% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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