Latin America and the Caribbean: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Latin America and the Caribbean

After three years of growth, the Latin American cold-rolled steel products market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2022, and then reduced slightly in the following year.

Cold-Rolled Steel Products Production in Latin America and the Caribbean

In value terms, cold-rolled steel products production expanded modestly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a mild increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Cold-Rolled Steel Products Exports

Exports in Latin America and the Caribbean

In 2023, the amount of flat-rolled products of iron or steel (not further worked than cold-rolled) exported in Latin America and the Caribbean dropped sharply to X tons, waning by X% on the previous year. In general, exports saw a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, cold-rolled steel products exports shrank remarkably to $X in 2023. Over the period under review, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Brazil (X tons), distantly followed by Mexico (X tons), Argentina (X tons) and Venezuela (X tons) were the key exporters of flat-rolled products of iron or steel (not further worked than cold-rolled), together mixing up X% of total exports. El Salvador (X tons), Guatemala (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Colombia (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest cold-rolled steel products supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Argentina ($X), with a combined X% share of total exports. El Salvador, Venezuela, Guatemala and Colombia lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Colombia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, growing by X% against the previous year. Export price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cold-rolled steel products export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2022 when the export price increased by X%. The level of export peaked in 2023 and is expected to retain growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by El Salvador (X%), while the other leaders experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports in Latin America and the Caribbean

In 2023, approx. X tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were imported in Latin America and the Caribbean; picking up by X% on 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in the immediate term.

In value terms, cold-rolled steel products imports reduced to $X in 2023. Total imports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. 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 hit record highs at $X in 2022, and then shrank in the following year.

Imports by Country

Mexico represented the main importer of flat-rolled products of iron or steel (not further worked than cold-rolled) in Latin America and the Caribbean, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. It was distantly followed by Brazil (X tons), Colombia (X tons) and Costa Rica (X tons), together making up a X% share of total imports. The following importers - Peru (X tons), Guatemala (X tons), Chile (X tons), Argentina (X tons) and Ecuador (X tons) - together made up X% of total imports.

Mexico was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than cold-rolled) imports, with a CAGR of X% from 2012 to 2023. At the same time, Costa Rica (X%) and Guatemala (X%) displayed positive paces of growth. Ecuador, Peru, Argentina and Colombia experienced a relatively flat trend pattern. By contrast, Brazil (X%) and Chile (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Chile (X p.p.), Colombia (X p.p.) and Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than cold-rolled) in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by Colombia, with an X% share.

In Mexico, cold-rolled steel products imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Colombia (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, dropping by X% against the previous year. Import price indicated a mild increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cold-rolled steel products import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped notably in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform