MERCOSUR: Metal Wool Market 2024

Metal Wool Market Size in MERCOSUR

The MERCOSUR metal wool market reduced to $X in 2022, shrinking by -13% against the previous year. Overall, consumption recorded a mild downturn. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Metal Wool Production in MERCOSUR

In value terms, metal wool production reduced to $X in 2022 estimated in export price. In general, production saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Metal Wool Exports

Exports in MERCOSUR

After four years of decline, shipments abroad of iron or steel wool increased by 23% to X tons in 2022. Over the period under review, exports, however, showed a deep reduction. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal wool exports surged to $X in 2022. Overall, exports, however, recorded a deep reduction. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Brazil (X tons) was the main exporter of iron or steel wool, comprising 62% of total exports. Ecuador (X tons) ranks second in terms of the total exports with a 16% share, followed by Argentina (8.9%), Colombia (7%) and Chile (5%).

Exports from Brazil decreased at an average annual rate of -4.2% from 2012 to 2022. Ecuador (-1.9%), Chile (-9.1%), Colombia (-9.7%) and Argentina (-15.7%) illustrated a downward trend over the same period. Brazil (+14 p.p.) and Ecuador (+6.3 p.p.) significantly strengthened its position in terms of the total exports, while Colombia and Argentina saw its share reduced by -2.8% and -15.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest metal wool supplier in MERCOSUR, comprising 58% of total exports. The second position in the ranking was taken by Chile ($X), with an 11% share of total exports. It was followed by Colombia, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled -7.5%. In the other countries, the average annual rates were as follows: Chile (-19.2% per year) and Colombia (-9.3% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, picking up by 12% against the previous year. Overall, the export price, however, showed a pronounced decline. The growth pace was the most rapid in 2021 an increase of 21%. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Ecuador ($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 (+0.7%), while the other leaders experienced mixed trends in the export price figures.

Metal Wool Imports

Imports in MERCOSUR

In 2022, supplies from abroad of iron or steel wool decreased by -6.7% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 21%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, metal wool imports reduced modestly to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when imports increased by 12%. Over the period under review, imports hit record highs at $X in 2021, and then shrank slightly in the following year.

Imports by Country

In 2022, Colombia (X tons), distantly followed by Argentina (X tons), Peru (X tons), Venezuela (X tons), Brazil (X tons), Paraguay (X tons), Uruguay (X tons) and Chile (X tons) represented the largest importers of iron or steel wool, together mixing up 93% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Chile (with a CAGR of +11.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal wool importing markets in MERCOSUR were Colombia ($X), Argentina ($X) and Brazil ($X), together accounting for 54% of total imports.

In terms of the main importing countries, Colombia, with a CAGR of +8.0%, recorded the highest rates of growth with regard to the value of imports, 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 2022, surging by 4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2015 when the import price increased by 16% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Uruguay ($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 (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform