Uruguay: Market for Hot-Rolled Steel Bars and Rods 2025

Market Size for Hot-Rolled Steel Bars and Rods in Uruguay

In 2021, the Uruguayan market for hot-rolled steel bars and rods decreased by -1.6% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Hot-Rolled Steel Bars and Rods in Uruguay

In value terms, hot-rolled steel bar and rod production totaled $X in 2021 estimated in export price. In general, production showed a perceptible contraction. The growth pace was the most rapid in 2013 when the production volume increased by 47% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Uruguay

For the fourth year in a row, Uruguay recorded decline in overseas shipments of hot-rolled steel bars and rods, which decreased by -9.9% to X tons in 2021. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 303% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled steel bar and rod exports expanded markedly to $X in 2021. In general, exports saw a sharp reduction. The most prominent rate of growth was recorded in 2017 with an increase of 156%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Argentina (X tons) was the main destination for hot-rolled steel bar and rod exports from Uruguay, accounting for a 94% share of total exports. Moreover, hot-rolled steel bar and rod exports to Argentina exceeded the volume sent to the second major destination, Free Zones (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Argentina totaled -19.1%.

In value terms, Free Zones ($X) and Argentina ($X) were the largest markets for hot-rolled steel bar and rod exported from Uruguay worldwide.

Among the main countries of destination, Free Zones, with a CAGR of +14.1%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average export price for hot-rolled steel bars and rods stood at $X per ton in 2021, rising by 20% against the previous year. Over the period under review, the export price, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 an increase of 24% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Free Zones ($X per ton), while the average price for exports to Argentina totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Uruguay

In 2021, after two years of growth, there was significant decline in purchases abroad of hot-rolled steel bars and rods, when their volume decreased by -5.4% to X tons. In general, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.0% against 2016 indices. The growth pace was the most rapid in 2020 when imports increased by 45% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, hot-rolled steel bar and rod imports skyrocketed to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 37%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Argentina (X tons), Brazil (X tons) and Turkey (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Uruguay, with a combined 81% share of total imports. Spain, China and Mexico lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +19.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel bar and rod suppliers to Uruguay were Argentina ($X), Brazil ($X) and Turkey ($X), together comprising 79% of total imports. These countries were followed by Spain, Mexico and China, which together accounted for a further 14%.

In terms of the main suppliers, Spain, with a CAGR of +14.3%, 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

In 2021, the average import price for hot-rolled steel bars and rods amounted to $X per ton, with an increase of 28% against the previous year. In general, the import price, however, continues to indicate a noticeable curtailment. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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