Chile: Pig Iron Articles Market 2025

Pig Iron Articles Market Size in Chile

The Chilean pig iron articles market surged to $X in 2021, increasing by 22% against 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). Over the period under review, consumption, however, saw a noticeable reduction. Pig iron articles consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Pig Iron Articles Exports

Exports from Chile

In 2021, shipments abroad of granules and powders of pig iron was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 305%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, pig iron articles exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2016 when exports increased by 716%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X tons) was the main destination for pig iron articles exports from Chile, accounting for a 67% share of total exports. Moreover, pig iron articles exports to Panama exceeded the volume sent to the second major destination, Saudi Arabia (X tons), fourfold. The third position in this ranking was held by Peru (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Panama stood at +29.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (0.0% per year) and Peru (+25.5% per year).

In value terms, the largest markets for pig iron articles exported from Chile were Panama ($X), Saudi Arabia ($X) and Peru ($X), with a combined 93% share of total exports. These countries were followed by Ecuador, which accounted for a further 6.7%.

Ecuador, with a CAGR of +44.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average pig iron articles export price amounted to $X per ton, surging by 13% against the previous year. Overall, the export price enjoyed a moderate increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 102%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Panama ($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 Spain (+70.8%), while the prices for the other major destinations experienced more modest paces of growth.

Pig Iron Articles Imports

Imports into Chile

Pig iron articles imports into Chile totaled X tons in 2021, picking up by 7.1% compared with 2020 figures. Over the period under review, imports, however, saw a slight setback. The pace of growth was the most pronounced in 2015 with an increase of 41%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, pig iron articles imports skyrocketed to $X in 2021. Overall, imports, however, saw a noticeable downturn. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest supplier of pig iron articles to Chile, accounting for a 53% share of total imports. Moreover, pig iron articles imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil stood at -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+98.0% per year) and South Korea (+3.3% per year).

In value terms, Brazil ($X) constituted the largest supplier of granules and powders of pig iron to Chile, comprising 55% of total imports. The second position in the ranking was taken by China ($X), with a 10% share of total imports. It was followed by Argentina, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value from Brazil totaled -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.6% per year) and Argentina (+72.9% per year).

Import Prices by Country

In 2021, the average pig iron articles import price amounted to $X per ton, with an increase of 22% against the previous year. Overall, the import price, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2014 an increase of 29%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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 Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform