Colombia: Non-Alloy Steel H-Sections Market 2024

Non-Alloy Steel H-Sections Market Size in Colombia

The Colombian non-alloy steel h-sections market declined markedly to $X in 2022, waning by -18.2% 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). In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Non-Alloy Steel H-Sections Exports

Exports from Colombia

In 2022, overseas shipments of h-sections of of non-alloy steel were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2017 when exports increased by 220% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-alloy steel h-sections exports totaled $X in 2022. In general, exports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2017 with an increase of 376%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Free Zones (X tons) was the main destination for non-alloy steel h-sections exports from Colombia, accounting for a 68% share of total exports. Moreover, non-alloy steel h-sections exports to Free Zones exceeded the volume sent to the second major destination, Ecuador (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones amounted to -10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+6.5% per year) and Panama (+3.6% per year).

In value terms, Free Zones ($X) remains the key foreign market for h-sections of of non-alloy steel exports from Colombia, comprising 59% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Free Zones stood at -16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+0.0% per year) and Panama (-0.8% per year).

Export Prices by Country

In 2022, the average non-alloy steel h-sections export price amounted to $X per ton, growing by 3.6% against the previous year. Over the period under review, the export price, however, showed a abrupt descent. The growth pace was the most rapid in 2017 an increase of 49%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Free Zones ($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 Bolivia (+86.7%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Alloy Steel H-Sections Imports

Imports into Colombia

In 2022, imports of h-sections of of non-alloy steel into Colombia contracted to X tons, falling by -8.7% against the year before. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 36% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, non-alloy steel h-sections imports dropped rapidly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 72%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of non-alloy steel h-sections to Colombia, with a 51% share of total imports. Moreover, non-alloy steel h-sections imports from Spain exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+30.8% per year) and Germany (+29.6% per year).

In value terms, Spain ($X) constituted the largest supplier of h-sections of of non-alloy steel to Colombia, comprising 57% of total imports. The second position in the ranking was held by Turkey ($X), with an 11% share of total imports. It was followed by South Korea, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+36.2% per year) and South Korea (-9.1% per year).

Import Prices by Country

The average non-alloy steel h-sections import price stood at $X per ton in 2022, falling by -13.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 42%. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

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 ($X per ton), while the price for Germany ($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 (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :