Latin America and the Caribbean: Flat-Rolled Steel Products Market 2025

Flat-Rolled Steel Products Market Size in Latin America and the Caribbean

The Latin American flat-rolled steel products market stood at $X in 2021, rising by 3.8% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the market value increased by 8.4% against the previous year. The level of consumption peaked in 2021 and is likely to see steady growth in the near future.

Flat-Rolled Steel Products Production in Latin America and the Caribbean

In value terms, flat-rolled steel products production amounted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2017 with an increase of 10% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Flat-Rolled Steel Products Exports

Exports in Latin America and the Caribbean

After three years of decline, overseas shipments of flat-rolled products of iron or non-alloy steel increased by 9.8% to X tons in 2021. In general, exports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2013 when exports increased by 24%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, flat-rolled steel products exports soared to $X in 2021. Overall, exports, however, recorded a abrupt decrease. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil was the key exporting country with an export of about X tons, which reached 80% of total exports. It was distantly followed by Argentina (X tons), generating a 12% share of total exports. The following exporters - Costa Rica (X tons) and Colombia (X tons) - together made up 5.5% of total exports.

From 2012 to 2021, average annual rates of growth with regard to flat-rolled steel products exports from Brazil stood at -8.6%. At the same time, Costa Rica (+26.2%) and Argentina (+2.5%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +26.2% from 2012-2021. By contrast, Colombia (-19.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Argentina and Costa Rica increased by +7.5 and +3.6 percentage points, respectively.

In value terms, Brazil ($X) remains the largest flat-rolled steel products supplier in Latin America and the Caribbean, comprising 76% of total exports. The second position in the ranking was taken by Argentina ($X), with a 13% share of total exports. It was followed by Costa Rica, with a 5.5% share.

In Brazil, flat-rolled steel products exports declined by an average annual rate of -8.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Argentina (+7.1% per year) and Costa Rica (+30.4% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, jumping by 37% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Costa Rica ($X per ton) and Argentina ($X per ton), while Brazil ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+4.5%), while the other leaders experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of flat-rolled products of iron or non-alloy steel increased by 20% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, flat-rolled steel products imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the key importing country with an import of around X tons, which resulted at 40% of total imports. Peru (X tons) ranks second in terms of the total imports with a 23% share, followed by Brazil (12%), Chile (6.4%), Colombia (4.5%) and Costa Rica (4.5%). The Dominican Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +31.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel products importing markets in Latin America and the Caribbean were Mexico ($X), Peru ($X) and Brazil ($X), with a combined 74% share of total imports.

Among the main importing countries, Brazil, with a CAGR of +31.4%, 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 import price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 8.4% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the import price increased by 12% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Chile ($X per ton) and the Dominican Republic ($X per ton), while Colombia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+1.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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