Peru: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Peru

The Peruvian hot-rolled steel products market skyrocketed to $X in 2021, picking up by 35% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Hot-Rolled Steel Products Production in Peru

In value terms, hot-rolled steel products production declined to $X in 2021 estimated in export price. Overall, production recorded a perceptible descent. The growth pace was the most rapid in 2016 with an increase of 33%. Hot-rolled steel products production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Hot-Rolled Steel Products Exports

Exports from Peru

In 2021, shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 6.3% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 124% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled steel products exports soared to $X in 2021. Overall, exports enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 92% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Chile (X tons), Ecuador (X tons) and Bolivia (X tons) were the main destinations of hot-rolled steel products exports from Peru, with a combined 74% share of total exports. These countries were followed by Colombia, Guatemala, Venezuela, Mexico and the United States, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +29.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel products exported from Peru were Ecuador ($X), Bolivia ($X) and Chile ($X), with a combined 75% share of total exports. Colombia, Guatemala, Mexico, the United States and Venezuela lagged somewhat behind, together accounting for a further 16%.

In terms of the main countries of destination, Guatemala, with a CAGR of +25.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average hot-rolled steel products export price amounted to $X per ton, jumping by 36% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Peru

In 2021, imports of flat-rolled products of iron or steel (not further worked than hot-rolled) into Peru amounted to X tons, picking up by 3.4% against the year before. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 21% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, hot-rolled steel products imports skyrocketed to $X in 2021. Overall, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of hot-rolled steel products to Peru, accounting for a 63% share of total imports. Moreover, hot-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. Brazil (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.9% per year) and Brazil (-6.6% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than hot-rolled) to Peru, comprising 58% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by Brazil, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+4.6% per year) and Brazil (-6.1% per year).

Import Prices by Country

The average hot-rolled steel products import price stood at $X per ton in 2021, surging by 45% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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