Colombia: Market for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) 2022

Market Size for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Colombia

The Colombian iron and steel wire market soared to $X in 2020, rising by X% 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 recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when the market value increased by X% against the previous year. Iron and steel wire consumption peaked at $X in 2014; however, from 2015 to 2020, consumption remained at a lower figure.

Exports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Exports from Colombia

In 2020, iron and steel wire exports from Colombia reduced markedly to X tons, falling by -X% on the previous year. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2013 when exports increased by X% y-o-y. Exports peaked at X tons in 2019, and then contracted notably in the following year.

In value terms, iron and steel wire exports reduced dramatically to $X in 2020. Overall, exports recorded a drastic downturn. The growth pace was the most rapid in 2013 when exports increased by X% y-o-y. Exports peaked at $X in 2019, and then shrank remarkably in the following year.

Exports by Country

Costa Rica (X tons) was the main destination for iron and steel wire exports from Colombia, accounting for a X% share of total exports. Moreover, iron and steel wire exports to Costa Rica exceeded the volume sent to the second major destination, Mexico (X tons), sixfold. Chile (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Costa Rica stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+X% per year) and Chile (-X% per year).

In value terms, Costa Rica ($X) emerged as the key foreign market for iron and steel wire exports from Colombia, comprising X% of total exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total exports. It was followed by the U.S., with a X% share.

From 2007 to 2020, the average annual growth rate of value to Costa Rica amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+X% per year) and the U.S. (-X% per year).

Export Prices by Country

In 2020, the average iron and steel wire export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. The export price peaked at $X per ton in 2011; however, from 2012 to 2020, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Mexico ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S., while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Imports into Colombia

In 2020, the amount of wire of iron or non-alloy steel (stainless steel or other alloy steel) imported into Colombia surged to X tons, jumping by X% against the year before. Over the period under review, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. from 2015 to 2020, the growth imports failed to regain the momentum.

In value terms, iron and steel wire imports rose remarkably to $X in 2020. In general, imports enjoyed a temperate increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% year-to-year. Imports peaked at $X in 2014; however, from 2015 to 2020, imports failed to regain the momentum.

Imports by Country

Turkey (X tons), Free Zones (X tons) and China (X tons) were the main suppliers of iron and steel wire imports to Colombia, together accounting for X% of total imports.

From 2007 to 2020, the biggest increases were in Turkey (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), China ($X) and Free Zones ($X) were the largest iron and steel wire suppliers to Colombia, together comprising X% of total imports.

Turkey (+X% per year) saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2020, falling by -X% against the previous year. In general, the import price continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2010 an increase of X% y-o-y. As a result, import price reached the peak level of $X per ton. from 2011 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was China ($X per ton), while the price for Free Zones ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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