MERCOSUR: Steel Stranded Wire Market 2024

Steel Stranded Wire Market Size in MERCOSUR

The MERCOSUR steel stranded wire market dropped slightly to $X in 2022, reducing by -4.7% against the previous year. Over the period under review, consumption recorded a slight contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Steel Stranded Wire Production in MERCOSUR

In value terms, steel stranded wire production declined slightly to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 17% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Steel Stranded Wire Exports

Exports in MERCOSUR

After two years of decline, overseas shipments of iron or steel stranded wire, ropes and cables increased by 13% to X tons in 2022. Over the period under review, exports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2016 with an increase of 27%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, steel stranded wire exports soared to $X in 2022. Overall, exports, however, recorded a noticeable decrease. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil represented the key exporting country with an export of around X tons, which finished at 60% of total exports. Chile (X tons) took the second position in the ranking, followed by Argentina (X tons) and Colombia (X tons). All these countries together held approx. 37% share of total exports. Venezuela (X tons) held a little share of total exports.

Exports from Brazil decreased at an average annual rate of -3.5% from 2012 to 2022. At the same time, Venezuela (+24.9%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +24.9% from 2012-2022. By contrast, Chile (-3.3%), Colombia (-6.3%) and Argentina (-9.9%) illustrated a downward trend over the same period. Brazil (+7.3 p.p.), Chile (+2.3 p.p.) and Venezuela (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by -10.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Argentina ($X) and Chile ($X) were the countries with the highest levels of exports in 2022, together comprising 93% of total exports. Colombia and Venezuela lagged somewhat behind, together accounting for a further 6%.

Venezuela, with a CAGR of +19.0%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, surging by 44% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. 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 2022, the most notable rate of growth in terms of prices was attained by Argentina (+8.8%), while the other leaders experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports in MERCOSUR

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were imported in MERCOSUR; waning by -4.7% against the previous year's figure. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 36% against the previous year. As a result, imports reached the peak of X tons, and then reduced modestly in the following year.

In value terms, steel stranded wire imports expanded remarkably to $X in 2022. Total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 +67.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 51%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Brazil was the largest importer of iron or steel stranded wire, ropes and cables in MERCOSUR, with the volume of imports accounting for X tons, which was approx. 51% of total imports in 2022. Chile (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (11%), Argentina (9%) and Peru (8.4%). The following importers - Ecuador (X tons) and Paraguay (X tons) - together made up 5% of total imports.

From 2012 to 2022, average annual rates of growth with regard to steel stranded wire imports into Brazil stood at +2.2%. At the same time, Paraguay (+7.0%), Colombia (+6.9%), Chile (+2.7%), Ecuador (+2.3%) and Argentina (+1.4%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +7.0% from 2012-2022. Peru experienced a relatively flat trend pattern. Colombia (+4.3 p.p.) and Brazil (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported iron or steel stranded wire, ropes and cables in MERCOSUR, comprising 52% of total imports. The second position in the ranking was taken by Chile ($X), with a 14% share of total imports. It was followed by Argentina, with a 10% share.

In Brazil, steel stranded wire imports expanded at an average annual rate of +3.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+2.7% per year) and Argentina (+0.9% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, jumping by 16% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+0.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform