Dominican Republic: Non-Alloy Steel I-Sections Market 2024

Non-Alloy Steel I-Sections Market Size in the Dominican Republic

The Dominican non-alloy steel i-sections market soared to $X in 2021, with an increase of 122% 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 showed strong growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Non-Alloy Steel I-Sections Exports

Exports from the Dominican Republic

In 2021, shipments abroad of i-sections of non-alloy steel was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports continue to indicate measured growth. The most prominent rate of growth was recorded in 2016 with an increase of 1,207% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-alloy steel i-sections exports soared to $X in 2021. Over the period under review, exports showed a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 859%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for non-alloy steel i-sections exports from the Dominican Republic, accounting for a 71% share of total exports. Moreover, non-alloy steel i-sections exports to Haiti exceeded the volume sent to the second major destination, the United States (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Haiti was relatively modest.

In value terms, Haiti ($X) remains the key foreign market for i-sections of non-alloy steel exports from the Dominican Republic, comprising 82% of total exports. The second position in the ranking was held by the United States ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Haiti amounted to +6.3%.

Export Prices by Country

The average non-alloy steel i-sections export price stood at $X per ton in 2021, remaining stable against the previous year. In general, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-alloy steel i-sections export price decreased by -23.2% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 95% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turks and Caicos Islands (+1,039.8%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Alloy Steel I-Sections Imports

Imports into the Dominican Republic

Non-alloy steel i-sections imports into the Dominican Republic skyrocketed to X tons in 2021, with an increase of 81% compared with 2020 figures. Over the period under review, imports posted a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-alloy steel i-sections imports soared to $X in 2021. Overall, imports continue to indicate a prominent increase. As a result, imports reached 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 the Dominican Republic, with a 58% share of total imports. Moreover, non-alloy steel i-sections imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain amounted to +80.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.9% per year) and South Korea (+14.5% per year).

In value terms, Spain ($X) constituted the largest supplier of i-sections of non-alloy steel to the Dominican Republic, comprising 58% of total imports. The second position in the ranking was taken by the United States ($X), with a 17% share of total imports. It was followed by Brazil, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain stood at +90.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.5% per year) and Brazil (+37.3% per year).

Import Prices by Country

In 2021, the average non-alloy steel i-sections import price amounted to $X per ton, rising by 31% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2018 an increase of 36% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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