Peru: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in Peru

The Peruvian steel and iron articles market fell notably to $X in 2022, waning by -15.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +28.7% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Exports of Articles Of Iron Or Steel

Exports from Peru

Steel and iron articles exports from Peru shrank remarkably to X tons in 2022, falling by -18.7% against 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 64% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, steel and iron articles exports expanded significantly to $X in 2022. In general, exports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 72% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for steel and iron articles exports from Peru, accounting for a 41% share of total exports. Moreover, steel and iron articles exports to Indonesia exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was taken by Chile (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia totaled +94.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+63.4% per year) and Chile (-0.8% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for articles of iron or steel exports from Peru, comprising 30% of total exports. The second position in the ranking was held by Chile ($X), with a 10% share of total exports. It was followed by China, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia stood at +116.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+8.3% per year) and China (+59.1% per year).

Export Prices by Country

In 2022, the average steel and iron articles export price amounted to $X per ton, surging by 35% against the previous year. In general, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel and iron articles export price decreased by -22.5% against 2020 indices. The growth pace was the most rapid in 2014 when the average export price increased by 42% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Peru

In 2022, approx. X tons of articles of iron or steel were imported into Peru; shrinking by -19% on 2021. Overall, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.3% 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 +39.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 73% against the previous year. As a result, imports attained the peak of X tons, and then declined notably in the following year.

In value terms, steel and iron articles imports fell to $X in 2022. Over the period under review, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +18.2% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 53%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel and iron articles to Peru, accounting for a 60% share of total imports. Moreover, steel and iron articles imports from China exceeded the figures recorded by the second-largest supplier, Chile (X tons), sixfold. Italy (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+3.5% per year) and Italy (+1.8% per year).

In value terms, China ($X) constituted the largest supplier of articles of iron or steel to Peru, comprising 42% of total imports. The second position in the ranking was taken by the United States ($X), with a 17% share of total imports. It was followed by Italy, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.4% per year) and Italy (-3.3% per year).

Import Prices by Country

In 2022, the average steel and iron articles import price amounted to $X per ton, picking up by 7% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 66%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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