Chile: Metal Chain Market 2024

Metal Chain Market Size in Chile

The Chilean metal chain market plummeted to $X in 2022, declining by -15.7% 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). Overall, consumption recorded a pronounced shrinkage. Metal chain consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Metal Chain Exports

Exports from Chile

In 2022, shipments abroad of iron or steel chain decreased by -80.4% to X tons, falling for the third year in a row after two years of growth. Overall, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of 117% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal chain exports declined dramatically to $X in 2022. Over the period under review, exports saw a precipitous setback. The most prominent rate of growth was recorded in 2019 with an increase of 85%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina (X tons) was the main destination for metal chain exports from Chile, accounting for a 63% share of total exports. Moreover, metal chain exports to Argentina exceeded the volume sent to the second major destination, the United States (X tons), threefold. Peru (X kg) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume to Argentina totaled -11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-13.2% per year) and Peru (-7.3% per year).

In value terms, Argentina ($X) remains the key foreign market for iron or steel chain exports from Chile, comprising 63% of total exports. The second position in the ranking was held by Brazil ($X), with a 14% share of total exports. It was followed by the United States, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Argentina totaled -16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+20.6% per year) and the United States (-18.9% per year).

Export Prices by Country

The average metal chain export price stood at $X per ton in 2022, rising by 49% against the previous year. Over the period under review, the export price, however, saw a abrupt curtailment. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Peru ($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 Brazil (+8.1%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Chain Imports

Imports into Chile

In 2022, imports of iron or steel chain into Chile contracted significantly to X tons, which is down by -38.5% on 2021. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by 107%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, metal chain imports fell to $X in 2022. Overall, imports showed a noticeable curtailment. The growth pace was the most rapid in 2021 with an increase of 59% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal chain to Chile, with a 46% share of total imports. Moreover, metal chain imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+18.6% per year) and Turkey (+22.8% per year).

In value terms, China ($X), the United States ($X) and South Korea ($X) appeared to be the largest metal chain suppliers to Chile, with a combined 49% share of total imports. Turkey, Italy, Japan, Germany, Finland, Spain, the Netherlands and Brazil lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Turkey, with a CAGR of +22.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal chain import price amounted to $X per ton, rising by 45% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. 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 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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