Latin America and the Caribbean: Hot-Rolled Free-Cutting Steel Market 2024

Hot-Rolled Free-Cutting Steel Market Size in Latin America and the Caribbean

In 2021, the Latin American hot-rolled free-cutting steel market increased by 14% to $X, rising for the fourth year in a row after three years of decline. Over the period under review, consumption, however, continues to indicate a perceptible curtailment. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Production in Latin America and the Caribbean

In value terms, hot-rolled free-cutting steel production declined slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of hot-rolled bars in free-cutting steels increased by 50% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 57%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled free-cutting steel exports surged to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Guatemala (X tons), Argentina (X tons), Nicaragua (X tons), Brazil (X tons) and Honduras (X tons) represented the key exporter of hot-rolled bars in free-cutting steels in Latin America and the Caribbean, committing 93% of total export. The Dominican Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Guatemala (with a CAGR of +55.2%), while the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), Argentina ($X) and Nicaragua ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 69% share of total exports.

Among the main exporting countries, Guatemala, with a CAGR of +53.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 31% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Guatemala ($X per ton) and Nicaragua ($X per ton), while Argentina ($X per ton) and the Dominican Republic ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nicaragua (+3.2%), while the other leaders experienced more modest paces of growth.

Hot-Rolled Free-Cutting Steel Imports

Imports in Latin America and the Caribbean

Hot-rolled free-cutting steel imports soared to X tons in 2021, rising by 28% compared with the previous year. Over the period under review, imports, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2013 when imports increased by 34% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel imports skyrocketed to $X in 2021. Overall, imports, however, saw a perceptible decline. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of hot-rolled free-cutting steel imports in 2021 were El Salvador (X tons), Brazil (X tons), Honduras (X tons), Mexico (X tons) and Peru (X tons), together resulting at 79% of total import. Chile (X tons), Haiti (X tons), Colombia (X tons), Trinidad and Tobago (X tons) and Grenada (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +51.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X), Brazil ($X) and Honduras ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 54% of total imports. These countries were followed by Mexico, Peru, Chile, Colombia, Grenada, Haiti and Trinidad and Tobago, which together accounted for a further 37%.

Chile, with a CAGR of +44.9%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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, jumping by 30% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Grenada ($X per ton), while Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Grenada (+13.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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