Latin America and the Caribbean: Market for Remelting Scrap Ingots Of Iron Or Steel 2025

Market Size for Remelting Scrap Ingots Of Iron Or Steel in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in the Latin American metal remelting scrap ingots market, when its value decreased by X% to $X. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then contracted rapidly in the following year.

Production of Remelting Scrap Ingots Of Iron Or Steel in Latin America and the Caribbean

In value terms, metal remelting scrap ingots production contracted to $X in 2022 estimated in export price. The total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Remelting Scrap Ingots Of Iron Or Steel

Exports in Latin America and the Caribbean

For the fifth consecutive year, LatAmerica and the Caribbean recorded growth in shipments abroad of remelting scrap ingots of iron or steel, which increased by X% to X tons in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, metal remelting scrap ingots exports soared to $X in 2022. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Suriname prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Guatemala (X tons), comprising a X% share of total exports.

Suriname experienced a relatively flat trend pattern with regard to volume of exports of remelting scrap ingots of iron or steel. At the same time, Guatemala (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. While the share of Suriname (X p.p.) and Guatemala (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Suriname ($X) emerged as the largest metal remelting scrap ingots supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Guatemala ($X), with a X% share of total exports.

In Suriname, metal remelting scrap ingots exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price showed a abrupt downturn. The pace of growth was the most pronounced in 2018 an increase of X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while Suriname stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (X%).

Imports of Remelting Scrap Ingots Of Iron Or Steel

Imports in Latin America and the Caribbean

In 2022, the amount of remelting scrap ingots of iron or steel imported in Latin America and the Caribbean surged to X tons, growing by X% against the previous year's figure. Overall, imports, however, showed a sharp slump. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, metal remelting scrap ingots imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the Dominican Republic (X tons) was the largest importer of remelting scrap ingots of iron or steel, creating X% of total imports. Guatemala (X tons) took the second position in the ranking, followed by Brazil (X tons). All these countries together took approx. X% share of total imports. Honduras (X tons) held a relatively small share of total imports.

Imports into the Dominican Republic increased at an average annual rate of X% from 2012 to 2022. At the same time, Guatemala (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Brazil (X%) and Honduras (X%) illustrated a downward trend over the same period. The Dominican Republic (X p.p.), Guatemala (X p.p.) and Brazil (X p.p.) significantly strengthened its position in terms of the total imports, while Honduras saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported remelting scrap ingots of iron or steel in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by Guatemala, with a X% share.

In the Dominican Republic, metal remelting scrap ingots imports decreased by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Guatemala (X% 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 X% against the previous year. In general, the import price saw a pronounced curtailment. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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