MERCOSUR: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in MERCOSUR

The MERCOSUR market for hot-rolled non-alloy steel wire rods totaled $X in 2021, increasing by 11% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked in 2021 and is likely to continue growth in years to come.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in MERCOSUR

In value terms, hot-rolled non-alloy steel wire rod production expanded significantly to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 29% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports in MERCOSUR

In 2021, approx. X tons of hot-rolled non-alloy steel wire rods were exported in MERCOSUR; approximately mirroring 2020 figures. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 29%. 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, hot-rolled non-alloy steel wire rod exports skyrocketed to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil was the major exporter of hot-rolled non-alloy steel wire rods in MERCOSUR, with the volume of exports amounting to X tons, which was approx. 69% of total exports in 2021. Argentina (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Chile (9.9%) and Venezuela (5.7%).

From 2012 to 2021, average annual rates of growth with regard to hot-rolled non-alloy steel wire rod exports from Brazil stood at +2.9%. At the same time, Chile (+34.6%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +34.6% from 2012-2021. By contrast, Argentina (-6.8%) and Venezuela (-7.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil and Chile increased by +13 and +9.1 percentage points, respectively.

In value terms, Brazil ($X) remains the largest hot-rolled non-alloy steel wire rod supplier in MERCOSUR, comprising 69% of total exports. The second position in the ranking was held by Argentina ($X), with a 17% share of total exports. It was followed by Chile, with an 8% share.

In Brazil, hot-rolled non-alloy steel wire rod exports expanded at an average annual rate of +2.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-5.4% per year) and Chile (+30.2% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, increasing by 36% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Argentina ($X per ton) and Brazil ($X per ton), while Chile ($X per ton) and Venezuela ($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 (+1.5%), while the other leaders experienced a decline in the export price figures.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports in MERCOSUR

In 2021, the amount of hot-rolled non-alloy steel wire rods imported in MERCOSUR surged to X tons, growing by 90% against 2020. Over the period under review, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports soared to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Brazil (X tons), distantly followed by Colombia (X tons), Peru (X tons), Argentina (X tons), Chile (X tons), Paraguay (X tons) and Ecuador (X tons) were the main importers of hot-rolled non-alloy steel wire rods, together generating 96% of total imports.

From 2012 to 2021, the biggest increases were recorded for Argentina (with a CAGR of +25.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Colombia ($X) and Peru ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 70% share of total imports. These countries were followed by Argentina, Chile, Paraguay and Ecuador, which together accounted for a further 26%.

Argentina, with a CAGR of +25.4%, saw the highest growth rate of 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, picking up by 34% against the previous year. Over the period under review, 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 Chile ($X per ton) and Argentina ($X per ton), while Colombia ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform