MERCOSUR: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in MERCOSUR

In 2021, the MERCOSUR hot-rolled steel products market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a pronounced shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Hot-Rolled Steel Products Production in MERCOSUR

In value terms, hot-rolled steel products production amounted to $X in 2021 estimated in export price. In general, production continues to indicate a deep setback. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports in MERCOSUR

In 2021, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 11% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2015 with an increase of 53%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, hot-rolled steel products exports soared to $X in 2021. Over the period under review, exports, however, showed a pronounced contraction. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil represented the major exporter of flat-rolled products of iron or steel (not further worked than hot-rolled) in MERCOSUR, with the volume of exports finishing at X tons, which was near 87% of total exports in 2021. It was distantly followed by Argentina (X tons), making up a 10% share of total exports. Venezuela (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to hot-rolled steel products exports from Brazil stood at -3.3%. Argentina experienced a relatively flat trend pattern. Venezuela (-16.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Argentina and Brazil increased by +2.4 and +1.7 percentage points, respectively.

In value terms, Brazil ($X) remains the largest hot-rolled steel products supplier in MERCOSUR, comprising 86% of total exports. The second position in the ranking was held by Argentina ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Brazil stood at -2.1%. In the other countries, the average annual rates were as follows: Argentina (+1.9% per year) and Venezuela (-21.3% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, jumping by 57% against the previous year. Export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.3% 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 reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Argentina (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Hot-Rolled Steel Products Imports

Imports in MERCOSUR

In 2021, overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled) were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable 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, hot-rolled steel products imports soared to $X in 2021. Total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Chile (X tons) and Colombia (X tons) represented the main importers of flat-rolled products of iron or steel (not further worked than hot-rolled) in MERCOSUR, together finishing at near 52% of total imports. Brazil (X tons) held the next position in the ranking, followed by Peru (X tons) and Ecuador (X tons). All these countries together held approx. 42% share of total imports. The following importers - Paraguay (X tons) and Argentina (X tons) - together made up 5.4% of total imports.

From 2012 to 2021, the biggest increases were recorded for Paraguay (with a CAGR of +7.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel products importing markets in MERCOSUR were Chile ($X), Colombia ($X) and Brazil ($X), together accounting for 68% of total imports. These countries were followed by Ecuador, Peru, Paraguay and Argentina, which together accounted for a further 31%.

Ecuador, with a CAGR of +8.9%, recorded 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 MERCOSUR stood at $X per ton in 2021, growing by 43% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached 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 ($X per ton) and Paraguay ($X per ton), while Peru ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform