MERCOSUR: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in MERCOSUR

In 2021, after two years of decline, there was significant growth in the MERCOSUR market for raw steel and steel semi-finished products, when its value increased by 16% to $X. Overall, consumption, however, saw a pronounced contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Raw Steel And Steel Semi-Finished Products in MERCOSUR

In value terms, production of raw steel and steel semi-finished products soared to $X in 2021 estimated in export price. Over the period under review, production, however, saw a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Raw Steel And Steel Semi-Finished Products

Exports in MERCOSUR

After three years of decline, overseas shipments of raw steel and steel semi-finished products increased by 11% to X tons in 2021. Total exports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -11.9% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 35%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of raw steel and steel semi-finished products soared to $X in 2021. In general, exports continue to indicate a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil prevails in products structure, resulting at X tons, which was near 96% of total exports in 2021. The following exporters - Venezuela (X tons) and Argentina (X tons) - each finished at a 4.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to raw steel and steel semi-finished products exports from Brazil stood at +2.5%. At the same time, Venezuela (+14.5%) and Argentina (+13.7%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +14.5% from 2012-2021. While the share of Brazil (-2.5 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest raw steel and steel semi-finished products supplier in MERCOSUR, comprising 96% of total exports. The second position in the ranking was held by Argentina ($X), with a 2.1% share of total exports.

In Brazil, exports of raw steel and steel semi-finished products increased at an average annual rate of +6.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (+14.4% per year) and Venezuela (+15.2% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, growing by 86% against the previous year. Export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Argentina ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+3.4%), while the other leaders experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports in MERCOSUR

In 2021, overseas purchases of raw steel and steel semi-finished products increased by 218% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of raw steel and steel semi-finished products skyrocketed to $X in 2021. Over the period under review, imports saw a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons) was the major importer of raw steel and steel semi-finished products, making up 47% of total imports. Argentina (X tons) ranks second in terms of the total imports with a 30% share, followed by Peru (19%). Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Brazil (with a CAGR of +45.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest raw steel and steel semi-finished products importing markets in MERCOSUR were Brazil ($X), Argentina ($X) and Peru ($X), together comprising 97% of total imports.

Brazil, with a CAGR of +36.0%, 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

In 2021, the import price in MERCOSUR amounted to $X per ton, with an increase of 37% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Argentina ($X per ton) and Brazil ($X per ton), while Colombia ($X per ton) and Peru ($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 (+3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform