Chile: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Chile

In 2021, the Chilean hot-rolled steel products market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Hot-Rolled Steel Products Production in Chile

In value terms, hot-rolled steel products production fell to $X in 2021 estimated in export price. Over the period under review, production, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. Hot-rolled steel products production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports from Chile

Hot-rolled steel products exports from Chile surged to X tons in 2021, jumping by 19% on the year before. In general, exports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2013 when exports increased by 119%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, hot-rolled steel products exports soared to $X in 2021. Over the period under review, exports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2013 with an increase of 65%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Paraguay (X tons), Bolivia (X tons) and Peru (X tons) were the main destinations of hot-rolled steel products exports from Chile, with a combined 91% share of total exports. These countries were followed by Ecuador and Colombia, which together accounted for a further 5.2%.

From 2012 to 2021, the biggest increases were recorded for Ecuador (with a CAGR of +30.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel products exported from Chile were Bolivia ($X), Paraguay ($X) and Peru ($X), together accounting for 90% of total exports. These countries were followed by Ecuador and Colombia, which together accounted for a further 6.2%.

Ecuador, with a CAGR of +22.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average hot-rolled steel products export price stood at $X per ton in 2021, approximately equating the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 22% against the previous year. The export price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Paraguay ($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 Peru (+6.9%), while the prices for the other major destinations experienced mixed trend patterns.

Hot-Rolled Steel Products Imports

Imports into Chile

In 2021, after two years of decline, there was significant growth in supplies from abroad of flat-rolled products of iron or steel (not further worked than hot-rolled), when their volume increased by 41% to X tons. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel products imports soared to $X in 2021. Overall, imports continue to indicate a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest hot-rolled steel products supplier to Chile, with a 50% share of total imports. Moreover, hot-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. Japan (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+5.6% per year) and Japan (+9.0% per year).

In value terms, the largest hot-rolled steel products suppliers to Chile were China ($X), Brazil ($X) and Japan ($X), together comprising 89% of total imports.

China, with a CAGR of +11.6%, recorded the highest growth rate of the value of imports, in terms of 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 hot-rolled steel products import price amounted to $X per ton, with an increase of 50% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price attained 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 Brazil ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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