Uruguay: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Uruguay

The Uruguayan market for iron or steel wire products shrank to $X in 2022, waning by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Iron or Steel Wire Products in Uruguay

In value terms, iron or steel wire product production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Iron or Steel Wire Products

Exports from Uruguay

In 2022, iron or steel wire product exports from Uruguay soared to X tons, growing by X% on the previous year. Overall, exports, however, faced a sharp descent. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel wire product exports skyrocketed to $X in 2022. In general, exports, however, faced a sharp decline. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Chile (X tons) was the main destination for iron or steel wire product exports from Uruguay, accounting for a X% share of total exports. Moreover, iron or steel wire product exports to Chile exceeded the volume sent to the second major destination, Paraguay (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Chile amounted to X%.

In value terms, Chile ($X) remains the key foreign market for iron or steel wire products exports from Uruguay, comprising X% of total exports. The second position in the ranking was held by Paraguay ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile totaled X%.

Export Prices by Country

The average export price for iron or steel wire products stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Chile totaled $X per ton.

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

Imports of Iron or Steel Wire Products

Imports into Uruguay

In 2022, supplies from abroad of iron or steel wire products increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports, however, showed a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, iron or steel wire product imports reached $X in 2022. In general, imports, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Brazil (X tons), China (X tons) and Argentina (X tons) were the main suppliers of iron or steel wire product imports to Uruguay, with a combined X% share of total imports. Italy, the United States and Spain lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, Brazil ($X), China ($X) and Argentina ($X) appeared to be the largest iron or steel wire product suppliers to Uruguay, with a combined X% share of total imports. The United States, Italy and Spain lagged somewhat behind, together accounting for a further X%.

Italy, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for iron or steel wire products stood at $X per ton in 2022, declining by X% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron or steel wire product import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then contracted slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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