Peru: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Peru

The Peruvian market for raw steel and steel semi-finished products was finally on the rise to reach $X in 2023, after two years of decline. Over the period under review, consumption, however, posted a resilient increase. Consumption of peaked at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Production of Raw Steel And Steel Semi-Finished Products in Peru

In value terms, production of raw steel and steel semi-finished products fell to $X in 2023 estimated in export price. Overall, production, however, recorded strong growth. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Production of peaked at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Peru

In 2023, after two years of growth, there was significant decline in overseas shipments of raw steel and steel semi-finished products, when their volume decreased by X% to X tons. In general, exports recorded a precipitous decline. The pace of growth appeared the most rapid in 2022 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, exports of raw steel and steel semi-finished products reduced notably to $X in 2023. Overall, exports recorded a deep setback. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for exports of raw steel and steel semi-finished products from Peru, with a X% share of total exports. Moreover, exports of raw steel and steel semi-finished products to Ecuador exceeded the volume sent to the second major destination, Bolivia (X tons), more than tenfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Ecuador amounted to X%.

In value terms, Ecuador ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Peru, comprising X% of total exports. The second position in the ranking was held by Bolivia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Ecuador amounted to X%.

Export Prices by Country

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2023, reducing by X% against the previous year. In general, the export price, however, recorded a significant increase. The growth pace was the most rapid in 2018 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2022, and then reduced in the following year.

Average prices varied noticeably for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Bolivia totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (X%).

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Peru

In 2023, the amount of raw steel and steel semi-finished products imported into Peru skyrocketed to X tons, picking up by X% against the year before. Over the period under review, imports saw moderate growth. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports of reached the peak figure at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, imports of raw steel and steel semi-finished products rose sharply to $X in 2023. Overall, imports showed moderate growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports of failed to regain momentum.

Imports by Country

Ukraine (X tons), Brazil (X tons) and Turkey (X tons) were the main suppliers of imports of raw steel and steel semi-finished products to Peru, together comprising X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Ukraine (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest raw steel and steel semi-finished products suppliers to Peru were Ukraine ($X), Turkey ($X) and Brazil ($X), with a combined X% share of total imports.

In terms of the main suppliers, Ukraine, with a CAGR of X%, saw the highest growth rate of 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 2023, the average import price for raw steel and steel semi-finished products amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform