Guatemala: Expanded Metal Market 2024

Expanded Metal Market Size in Guatemala

The Guatemalan expanded metal market fell remarkably to $X in 2022, with a decrease of -17.3% 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, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 +45.2% against 2020 indices. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Expanded Metal Exports

Exports from Guatemala

In 2022, overseas shipments of iron or steel expanded metal increased by 192% to X tons, rising for the second year in a row after two years of decline. Overall, exports posted a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 230%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, expanded metal exports soared to $X in 2022. In general, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 484% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Honduras (X tons) was the main destination for expanded metal exports from Guatemala, with a 58% share of total exports. Moreover, expanded metal exports to Honduras exceeded the volume sent to the second major destination, Nicaragua (X tons), twofold. Belize (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Honduras totaled +26.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-2.7% per year) and Belize (-2.1% per year).

In value terms, Honduras ($X) remains the key foreign market for iron or steel expanded metal exports from Guatemala, comprising 57% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 27% share of total exports. It was followed by Belize, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras stood at +32.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+5.0% per year) and Belize (+0.5% per year).

Export Prices by Country

The average expanded metal export price stood at $X per ton in 2022, picking up by 11% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, expanded metal export price increased by +95.8% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 77%. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Nicaragua ($X per ton) and El Salvador ($X per ton), while the average price for exports to Belize ($X per ton) and Honduras ($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 Nicaragua (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Expanded Metal Imports

Imports into Guatemala

In 2022, the amount of iron or steel expanded metal imported into Guatemala contracted modestly to X tons, waning by -1.9% against the year before. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 56% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, expanded metal imports declined remarkably to $X in 2022. Overall, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +101.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 150% against the previous year. As a result, imports attained the peak of $X, and then reduced notably in the following year.

Imports by Country

China (X tons), Mexico (X tons) and Honduras (X tons) were the main suppliers of expanded metal imports to Guatemala, with a combined 92% 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 China (with a CAGR of +133.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Mexico ($X) and El Salvador ($X) constituted the largest expanded metal suppliers to Guatemala, together accounting for 96% of total imports.

In terms of the main suppliers, China, with a CAGR of +132.8%, saw 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 expanded metal import price stood at $X per ton in 2022, waning by -17.8% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 99%. As a result, import price attained the peak level of $X per ton, and then fell dramatically in the following year.

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 the United States ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+13.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform