Latin America and the Caribbean: Market for Hot-Rolled Bars Of High Speed Steel 2025

Market Size for Hot-Rolled Bars Of High Speed Steel in Latin America and the Caribbean

The Latin American market for hot-rolled bars of high speed steel contracted slightly to $X in 2022, with a decrease of -4.3% against the previous year. In general, consumption continues to indicate a slight decrease. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Bars Of High Speed Steel in Latin America and the Caribbean

In value terms, hot-rolled high speed steel bar production reduced modestly to $X in 2022 estimated in export price. Overall, production saw a mild decline. The growth pace was the most rapid in 2018 with an increase of 18%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports in Latin America and the Caribbean

In 2022, shipments abroad of hot-rolled bars of high speed steel increased by 26% to X tons, rising for the second year in a row after two years of decline. In general, exports saw a prominent increase. The growth pace was the most rapid in 2013 when exports increased by 103% against the previous year. The volume of export peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, hot-rolled high speed steel bar exports surged to $X in 2022. Overall, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 110% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Brazil prevails in exports structure, accounting for X tons, which was near 85% of total exports in 2022. It was distantly followed by Chile (X tons), mixing up a 9.7% share of total exports. Peru (X tons) took a relatively small share of total exports.

Exports from Brazil increased at an average annual rate of +7.9% from 2012 to 2022. At the same time, Peru (+50.2%) and Chile (+44.6%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +50.2% from 2012-2022. While the share of Chile (+9.7 p.p.) and Peru (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (-10 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) remains the largest hot-rolled high speed steel bar supplier in Latin America and the Caribbean, comprising 94% of total exports. The second position in the ranking was held by Chile ($X), with a 4.3% share of total exports.

In Brazil, hot-rolled high speed steel bar exports increased at an average annual rate of +7.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Chile (+45.9% per year) and Peru (+30.9% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 27% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 93% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+0.9%), while the other leaders experienced a decline in the export price figures.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports in Latin America and the Caribbean

In 2022, the amount of hot-rolled bars of high speed steel imported in Latin America and the Caribbean expanded slightly to X tons, picking up by 3.2% compared with the previous year. Over the period under review, imports, however, continue to indicate a mild setback. The pace of growth was the most pronounced in 2015 with an increase of 49% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, hot-rolled high speed steel bar imports reduced to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 23%. Over the period under review, imports reached the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

Brazil prevails in imports structure, accounting for X tons, which was near 81% of total imports in 2022. It was distantly followed by Mexico (X tons), mixing up a 6.8% share of total imports. The following importers - Argentina (X tons) and Colombia (X tons) - each resulted at a 7.6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hot-rolled high speed steel bar imports into Brazil stood at +1.4%. At the same time, Colombia (+26.2%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +26.2% from 2012-2022. By contrast, Argentina (-3.8%) and Mexico (-4.2%) illustrated a downward trend over the same period. While the share of Brazil (+20 p.p.) and Colombia (+3.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (-2.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported hot-rolled bars of high speed steel in Latin America and the Caribbean, comprising 83% of total imports. The second position in the ranking was held by Argentina ($X), with a 6.2% share of total imports. It was followed by Mexico, with a 6.2% share.

In Brazil, hot-rolled high speed steel bar imports expanded at an average annual rate of +3.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (-5.3% per year) and Mexico (-7.5% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with a decrease of -14.7% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 19% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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