Guatemala: Market for Hot-Rolled Steel Bars and Rods 2025

Market Size for Hot-Rolled Steel Bars and Rods in Guatemala

In 2022, after four years of growth, there was decline in the Guatemalan market for hot-rolled steel bars and rods, when its value decreased by -4.2% to $X. In general, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +56.3% against 2017 indices. Hot-rolled steel bar and rod consumption peaked at $X in 2021, and then reduced slightly in the following year.

Production of Hot-Rolled Steel Bars and Rods in Guatemala

In value terms, hot-rolled steel bar and rod production rose to $X in 2022 estimated in export price. Overall, production showed a modest expansion. The growth pace was the most rapid in 2013 when the production volume increased by 24% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Guatemala

In 2022, exports of hot-rolled steel bars and rods from Guatemala reduced markedly to X tons, with a decrease of -17.4% on the previous year's figure. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 41% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod exports stood at $X in 2022. Over the period under review, total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 44%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Honduras (X tons), El Salvador (X tons) and Belize (X tons) were the main destinations of hot-rolled steel bar and rod exports from Guatemala, with a combined 89% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belize (with a CAGR of +14.7%), while the other leaders experienced mixed trend patterns.

In value terms, Honduras ($X), El Salvador ($X) and Belize ($X) were the largest markets for hot-rolled steel bar and rod exported from Guatemala worldwide, with a combined 91% share of total exports.

Belize, with a CAGR of +17.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for hot-rolled steel bars and rods stood at $X per ton in 2022, rising by 24% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled steel bar and rod export price increased by +83.8% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were El Salvador ($X per ton) and Honduras ($X per ton), while the average price for exports to Nicaragua ($X per ton) and Belize ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Guatemala

In 2022, supplies from abroad of hot-rolled steel bars and rods decreased by -16.9% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 89%. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped sharply in the following year.

In value terms, hot-rolled steel bar and rod imports shrank slightly to $X in 2022. In general, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 86% against the previous year. As a result, imports attained the peak of $X, and then reduced slightly in the following year.

Imports by Country

China (X tons), Mexico (X tons) and Russia (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Guatemala, with a combined 77% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +110.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Mexico ($X) and Russia ($X) appeared to be the largest hot-rolled steel bar and rod suppliers to Guatemala, with a combined 72% share of total imports.

In terms of the main suppliers, Russia, with a CAGR of +149.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2022, rising by 14% against the previous year. In general, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled steel bar and rod import price increased by +63.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 43% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

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 El Salvador ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform