Ecuador: Hot-Rolled Free-Cutting Steel Market 2025

Hot-Rolled Free-Cutting Steel Market Size in Ecuador

In 2021, the Ecuadorian hot-rolled free-cutting steel market increased by 12% to $X, rising for the second year in a row after two years of decline. Overall, consumption posted tangible growth. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Hot-Rolled Free-Cutting Steel Production in Ecuador

In value terms, hot-rolled free-cutting steel production declined slightly to $X in 2021 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by +0.8% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 55%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports from Ecuador

In 2021, exports of hot-rolled bars in free-cutting steels from Ecuador reached X tons, standing approx. at 2020. Overall, exports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2020 when exports increased by 100%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel exports stood at $X in 2021. Over the period under review, exports, however, saw a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 100%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tons) was the main destination for hot-rolled free-cutting steel exports from Ecuador, with a 98% share of total exports. It was followed by Peru (X kg), with a 1.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Colombia totaled +4.3%.

In value terms, Colombia ($X) remains the key foreign market for hot-rolled bars in free-cutting steels exports from Ecuador, comprising 94% of total exports. The second position in the ranking was taken by Peru ($X), with a 6.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia totaled +11.8%.

Export Prices by Country

The average hot-rolled free-cutting steel export price stood at $X per ton in 2021, flattening at the previous year. In general, the export price posted a tangible expansion. The growth pace was the most rapid in 2016 an increase of 52% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Peru ($X per ton), while the average price for exports to Colombia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+21.0%).

Hot-Rolled Free-Cutting Steel Imports

Imports into Ecuador

In 2021, approx. X tons of hot-rolled bars in free-cutting steels were imported into Ecuador; growing by 120% compared with the previous year. In general, imports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 483%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, hot-rolled free-cutting steel imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2020 with an increase of 275% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Colombia (X tons) constituted the largest hot-rolled free-cutting steel supplier to Ecuador, accounting for a 68% share of total imports. Moreover, hot-rolled free-cutting steel imports from Colombia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Chile (X tons), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from Colombia amounted to -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+51.1% per year) and Chile (-6.9% per year).

In value terms, Chile ($X) constituted the largest supplier of hot-rolled bars in free-cutting steels to Ecuador, comprising 67% of total imports. The second position in the ranking was held by Colombia ($X), with a 17% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile amounted to +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-11.3% per year) and China (+50.7% per year).

Import Prices by Country

In 2021, the average hot-rolled free-cutting steel import price amounted to $X per ton, which is down by -2.8% against the previous year. Over the period under review, the import price, however, posted a perceptible expansion. The most prominent rate of growth was recorded in 2018 an increase of 56% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per ton), while the price for Colombia ($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 (+25.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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