Colombia: Non-Alloy Steel I-Sections Market 2024

Non-Alloy Steel I-Sections Market Size in Colombia

In 2021, the Colombian non-alloy steel i-sections market increased by 44% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Non-Alloy Steel I-Sections Exports

Exports from Colombia

In 2021, overseas shipments of i-sections of non-alloy steel increased by 88% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports posted a moderate increase. The most prominent rate of growth was recorded in 2017 when exports increased by 887% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, non-alloy steel i-sections exports soared to $X in 2021. In general, exports enjoyed mild growth. The pace of growth appeared the most rapid in 2017 with an increase of 527%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Peru (X tons), Venezuela (X tons) and Panama (X tons) were the main destinations of non-alloy steel i-sections exports from Colombia, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +38.4%), while the other leaders experienced mixed trend patterns.

In value terms, Peru ($X) emerged as the key foreign market for i-sections of non-alloy steel exports from Colombia, comprising 69% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 20% share of total exports. It was followed by Panama, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value to Peru was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-13.3% per year) and Panama (+29.2% per year).

Export Prices by Country

In 2021, the average non-alloy steel i-sections export price amounted to $X per ton, rising by 16% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2016 when the average export price increased by 32%. 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 lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Venezuela ($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 Ecuador (+15.4%), while the prices for the other major destinations experienced a decline.

Non-Alloy Steel I-Sections Imports

Imports into Colombia

In 2021, supplies from abroad of i-sections of non-alloy steel was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 26%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, non-alloy steel i-sections imports surged to $X in 2021. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of non-alloy steel i-sections to Colombia, with a 32% share of total imports. Moreover, non-alloy steel i-sections imports from Spain exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+44.8% per year) and Germany (+39.0% per year).

In value terms, Spain ($X) constituted the largest supplier of i-sections of non-alloy steel to Colombia, comprising 35% of total imports. The second position in the ranking was held by Turkey ($X), with a 13% share of total imports. It was followed by South Korea, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain amounted to -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+44.7% per year) and South Korea (-8.0% per year).

Import Prices by Country

In 2021, the average non-alloy steel i-sections import price amounted to $X per ton, rising by 42% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Spain ($X per ton) and South Korea ($X per ton), while the price for Germany ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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