Uruguay: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Uruguay

In 2021, the Uruguayan hot-rolled steel products market decreased by -6.3% to $X for the first time since 2014, thus ending a six-year rising trend. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +69.0% against 2012 indices. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Hot-Rolled Steel Products Production in Uruguay

In value terms, hot-rolled steel products production shrank to $X in 2021 estimated in export price. In general, production, however, recorded strong growth. The growth pace was the most rapid in 2017 with an increase of 14% against the previous year. Hot-rolled steel products production peaked at $X in 2020, and then contracted in the following year.

Hot-Rolled Steel Products Exports

Exports from Uruguay

After two years of growth, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) decreased by -60.7% to X tons in 2021. In general, exports faced a precipitous decline. The most prominent rate of growth was recorded in 2019 when exports increased by 530% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel products exports shrank remarkably to $X in 2021. Over the period under review, exports faced a precipitous descent. The most prominent rate of growth was recorded in 2020 with an increase of 331%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for hot-rolled steel products exports from Uruguay, with a 84% share of total exports. Moreover, hot-rolled steel products exports to the UK exceeded the volume sent to the second major destination, Paraguay (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK amounted to -12.6%.

In value terms, the largest markets for hot-rolled steel products exported from Uruguay were the UK ($X) and Paraguay ($X).

Paraguay, with a CAGR of +31.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average hot-rolled steel products export price amounted to $X per ton, growing by 11% against the previous year. In general, the export price saw a moderate increase. The most prominent rate of growth was recorded in 2014 an increase of 114% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 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 Paraguay ($X per ton), while the average price for exports to the UK totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+4.2%), while the prices for the other major destinations experienced a decline.

Hot-Rolled Steel Products Imports

Imports into Uruguay

Hot-rolled steel products imports into Uruguay expanded rapidly to X tons in 2021, with an increase of 13% compared with the year before. In general, imports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 22% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, hot-rolled steel products imports skyrocketed to $X in 2021. Overall, imports, however, recorded a perceptible decline. The pace of growth was the most pronounced in 2017 with an increase of 63% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Argentina (X tons), Brazil (X tons) and Turkey (X tons) were the main suppliers of hot-rolled steel products imports to Uruguay, together accounting for 72% of total imports. China, Russia, Ukraine and Hong Kong SAR lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +5.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel products suppliers to Uruguay were Argentina ($X), Brazil ($X) and Turkey ($X), together accounting for 71% of total imports.

Turkey, with a CAGR of +2.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 hot-rolled steel products import price amounted to $X per ton, rising by 37% against the previous year. Overall, 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.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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