MERCOSUR: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in MERCOSUR

In 2021, after two years of decline, there was significant growth in the MERCOSUR iron and steel wire market, when its value increased by X% to $X. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Iron and Steel Wire in MERCOSUR

In value terms, iron and steel wire production expanded sharply to $X in 2021 estimated in export price. In general, production, however, faced a abrupt decline. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Iron and Steel Wire

Exports in MERCOSUR

In 2023, approx. X tons of iron and steel wire were exported in MERCOSUR; waning by X% compared with the previous year's figure. In general, exports showed a pronounced reduction. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, iron and steel wire exports reduced to $X in 2023. Over the period under review, exports showed a perceptible curtailment. The pace of growth was the most pronounced in 2022 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Brazil (X tons) represented the main exporter of iron and steel wire, committing X% of total exports. It was distantly followed by Peru (X tons), creating a X% share of total exports. Ecuador (X tons) and Colombia (X tons) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of iron and steel wire. At the same time, Peru (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2023. By contrast, Colombia (X%) and Ecuador (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Brazil and Peru increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest iron and steel wire supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Peru ($X), with an X% share of total exports. It was followed by Ecuador, with a X% share.

In Brazil, iron and steel wire exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (X% per year) and Ecuador (X% per year).

Export Prices by Country

In 2023, the export price in MERCOSUR amounted to $X per ton, standing approx. at the previous year. Export price indicated a modest 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, iron and steel wire export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices hit record highs in 2023 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Colombia ($X per ton) and Brazil ($X per ton), while Peru ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

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

Imports of Iron and Steel Wire

Imports in MERCOSUR

In 2023, approx. X tons of iron and steel wire were imported in MERCOSUR; growing by X% compared with 2022 figures. Total imports indicated a slight expansion from 2012 to 2023: its volume 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, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, iron and steel wire imports fell notably to $X in 2023. Overall, imports saw modest growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then dropped notably in the following year.

Imports by Country

Brazil represented the major importing country with an import of about X tons, which reached X% of total imports. Colombia (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (X%), Chile (X%), Paraguay (X%) and Peru (X%). Ecuador (X tons) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to iron and steel wire imports into Brazil stood at X%. At the same time, Colombia (X%), Argentina (X%) and Ecuador (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of X% from 2012-2023. Peru and Chile experienced a relatively flat trend pattern. By contrast, Paraguay (X%) illustrated a downward trend over the same period. While the share of Colombia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Paraguay (X p.p.) and Chile (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported iron and steel wire in MERCOSUR, comprising X% of total imports. The second position in the ranking was taken by Argentina ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Brazil was relatively modest. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Colombia (X% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then shrank sharply in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Ecuador ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform