MERCOSUR: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2024

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in MERCOSUR

In 2022, the MERCOSUR market for hot-rolled wire rod in coil of stainless steel increased by 48% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +59.8% against 2020 indices. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in MERCOSUR

In value terms, hot-rolled wire stainless steel rod production rose slightly to $X in 2022 estimated in export price. Over the period under review, production posted resilient growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 39%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports in MERCOSUR

In 2022, hot-rolled wire stainless steel rod exports in MERCOSUR totaled X tons, approximately equating the previous year. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 520% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled wire stainless steel rod exports contracted to $X in 2022. Overall, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 284%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from Brazil (X tons) and Peru (X tons), together amounting to 99.9% of total export.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of -6.6%).

In value terms, Brazil ($X) remains the largest hot-rolled wire stainless steel rod supplier in MERCOSUR, comprising 68% of total exports. The second position in the ranking was taken by Peru ($X), with a 32% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at -11.5%.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, dropping by -8.9% against the previous year. In general, the export price saw a deep setback. The pace of growth appeared the most rapid in 2017 an increase of 33% 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.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (-0.4%).

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports in MERCOSUR

In 2022, supplies from abroad of hot-rolled wire rod in coil of stainless steel increased by 31% to X tons for the first time since 2017, thus ending a four-year declining trend. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 62% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod imports soared to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +102.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil dominates imports structure, reaching X tons, which was approx. 96% of total imports in 2022. Guyana (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hot-rolled wire stainless steel rod imports into Brazil stood at +4.2%. At the same time, Guyana (+46.4%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +46.4% from 2012-2022. From 2012 to 2022, the share of Guyana increased by +2.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported hot-rolled wire rod in coil of stainless steel in MERCOSUR, comprising 99% of total imports. The second position in the ranking was taken by Guyana ($X), with a 0.6% share of total imports.

In Brazil, hot-rolled wire stainless steel rod imports expanded at an average annual rate of +3.2% over the period from 2012-2022.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, rising by 29% against the previous year. Over the period under review, the import price, however, recorded a slight contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood 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 Guyana stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-0.9%).

Source: IndexBox Platform