Puerto Rico: Market for Hot-Rolled Steel Bars and Rods 2025

Market Size for Hot-Rolled Steel Bars and Rods in Puerto Rico

The Puerto Rican market for hot-rolled steel bars and rods contracted to $X in 2021, dropping by -13.8% against the previous year. In general, consumption continues to indicate a noticeable descent. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Hot-Rolled Steel Bars and Rods in Puerto Rico

In value terms, hot-rolled steel bar and rod production reduced to $X in 2021 estimated in export price. In general, production continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 35%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Puerto Rico

Hot-rolled steel bar and rod exports from Puerto Rico was estimated at less than X kg in 2021, therefore, remained relatively stable against 2020. Overall, exports saw a relatively flat trend pattern.

In value terms, hot-rolled steel bar and rod exports amounted to less than $X in 2021. In general, exports continue to indicate a relatively flat trend pattern.

Exports by Country

In 2021, Turkey (X tons), distantly followed by China (X tons), Malaysia (X tons), Italy (X tons), Germany (X tons) and Russia (X tons) represented the largest exporters of hot-rolled steel bars and rods, together achieving 52% of total exports. Japan (X tons), India (X tons), Spain (X tons), Vietnam (X tons), France (X tons), Ukraine (X tons) and South Korea (X tons) held a little share of total exports.

Exports from Turkey increased at an average annual rate of +6.2% from 2012 to 2021. At the same time, Malaysia (+38.8%), India (+30.8%), Vietnam (+21.2%), Russia (+7.7%), Italy (+3.7%) and South Korea (+2.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +38.8% from 2012-2021. Japan, Germany and France experienced a relatively flat trend pattern. By contrast, Spain (-4.0%), China (-4.8%) and Ukraine (-10.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey, Malaysia, India, Vietnam and Russia increased by +7.2, +5.8, +2.9, +2.1 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hot-rolled steel bar and rod supplying countries from Puerto Rico were Turkey ($X), China ($X) and Germany ($X), together accounting for 33% of total exports. These countries were followed by Italy, Japan, Russia, Malaysia, Spain, India, France, Vietnam, South Korea and Ukraine, which together accounted for a further 35%.

In terms of the main exporting countries, Malaysia, with a CAGR of +34.2%, saw the highest growth rate of 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

The export price in Puerto Rico stood at less than $X per ton in 2021, approximately reflecting the previous year. In general, the export price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.7%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Puerto Rico

In 2021, approx. less than X kg of hot-rolled steel bars and rods were imported into Puerto Rico; leveling off at the previous year. Overall, imports continue to indicate a relatively flat trend pattern.

In value terms, hot-rolled steel bar and rod imports amounted to less than $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern.

Imports by Country

Germany (X tons), China (X tons), the United States (X tons), South Korea (X tons), Hong Kong SAR (X tons), Italy (X tons), Thailand (X tons), the Netherlands (X tons), Poland (X tons), France (X tons), Romania (X tons) and Israel (X tons) represented roughly 41% of total imports in 2021. Canada (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +18.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 17% share of total imports. South Korea, Italy, Thailand, France, Poland, Israel, the Netherlands, Romania, Hong Kong SAR and Canada lagged somewhat behind, together accounting for a further 28%.

Poland, with a CAGR of +11.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 Puerto Rico stood at less than $X per ton in 2021, approximately equating the previous year. In general, the import price showed a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per ton), while Hong Kong SAR ($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 (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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