Colombia: Cold-Rolled Steel Products Market 2025

Cold-Rolled Steel Products Market Size in Colombia

The Colombian cold-rolled steel products market declined notably to $X in 2022, waning by -17% 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 saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Cold-Rolled Steel Products Exports

Exports from Colombia

After four years of growth, shipments abroad of flat-rolled products of iron or steel (not further worked than cold-rolled) decreased by -78.8% to X tons in 2022. Over the period under review, exports, however, saw mild growth. The most prominent rate of growth was recorded in 2019 when exports increased by 237% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced notably in the following year.

In value terms, cold-rolled steel products exports declined significantly to $X in 2022. Overall, exports, however, continue to indicate a tangible expansion. The pace of growth was the most pronounced in 2019 when exports increased by 168%. Over the period under review, the exports reached the maximum at $X in 2021, and then dropped notably in the following year.

Exports by Country

Venezuela (X tons), Costa Rica (X tons) and Ecuador (X tons) were the main destinations of cold-rolled steel products exports from Colombia, together comprising 96% of total exports.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +7.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X), Costa Rica ($X) and Ecuador ($X) were the largest markets for cold-rolled steel products exported from Colombia worldwide, together accounting for 91% of total exports.

Ecuador, with a CAGR of +20.5%, saw 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 2022, the average cold-rolled steel products export price amounted to $X per ton, with an increase of 37% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Costa Rica ($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 Taiwan (Chinese) (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Colombia

In 2022, the amount of flat-rolled products of iron or steel (not further worked than cold-rolled) imported into Colombia dropped to X tons, falling by -14.5% compared with the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 41%. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, cold-rolled steel products imports dropped notably to $X in 2022. Over the period under review, imports showed a slight reduction. The growth pace was the most rapid in 2021 when imports increased by 61% against the previous year. As a result, imports attained the peak of $X, and then declined dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest cold-rolled steel products supplier to Colombia, accounting for a 51% share of total imports. Moreover, cold-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.4% per year) and South Korea (+6.2% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to Colombia, comprising 53% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by South Korea, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.9% per year) and South Korea (+2.5% per year).

Import Prices by Country

The average cold-rolled steel products import price stood at $X per ton in 2022, falling by -5.2% against the previous year. Overall, the import price recorded a mild reduction. The growth pace was the most rapid in 2017 an increase of 26%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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