Peru: Steel Railway Material Market 2024

Steel Railway Material Market Size in Peru

In 2022, after two years of decline, there was significant growth in the Peruvian steel railway material market, when its value increased by 32% to $X. Over the period under review, consumption, however, saw a noticeable curtailment. Steel railway material consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Steel Railway Material Exports

Exports from Peru

In 2022, approx. X tons of railway material of steel were exported from Peru; increasing by 145% against the year before. Over the period under review, exports saw a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 446%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, steel railway material exports surged to $X in 2022. In general, exports enjoyed a pronounced increase. The pace of growth was the most pronounced in 2021 when exports increased by 217% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nicaragua (X tons) was the main destination for steel railway material exports from Peru, accounting for a 75% share of total exports. Moreover, steel railway material exports to Nicaragua exceeded the volume sent to the second major destination, Bolivia (X tons), fourfold. Chile (X tons) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nicaragua stood at +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+5.9% per year) and Chile (-9.0% per year).

In value terms, Nicaragua ($X) remains the key foreign market for railway material of steel exports from Peru, comprising 71% of total exports. The second position in the ranking was held by Bolivia ($X), with a 7.8% share of total exports. It was followed by Chile, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Nicaragua stood at +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+0.8% per year) and Chile (-15.0% per year).

Export Prices by Country

In 2022, the average steel railway material export price amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2019 when the average export price increased by 84% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Free Zones ($X per ton), while the average price for exports to Bolivia ($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 Free Zones (+6.7%), while the prices for the other major destinations experienced a decline.

Steel Railway Material Imports

Imports into Peru

In 2022, overseas purchases of railway material of steel were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt contraction. The pace of growth was the most pronounced in 2016 when imports increased by 211%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, steel railway material imports skyrocketed to $X in 2022. Overall, imports, however, saw a perceptible setback. The pace of growth was the most pronounced in 2016 with an increase of 78% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel railway material to Peru, with a 75% share of total imports. Moreover, steel railway material imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), tenfold. Spain (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.5% per year) and Spain (+2.8% per year).

In value terms, China ($X), Spain ($X) and the United States ($X) constituted the largest steel railway material suppliers to Peru, together comprising 86% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +20.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average steel railway material import price stood at $X per ton in 2022, picking up by 6.5% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price 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, steel railway material import price increased by +46.3% against 2019 indices. The growth pace was the most rapid in 2017 when the average import price increased by 62%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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