MERCOSUR: Market for Iron and Non-Alloy Steel in Ingots 2024

Market Size for Iron and Non-Alloy Steel in Ingots in MERCOSUR

The MERCOSUR market for iron and non-alloy steel in ingots was estimated at $X in 2023, approximately reflecting the previous year. Over the period under review, consumption, however, posted a significant expansion. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Iron and Non-Alloy Steel in Ingots in MERCOSUR

In value terms, production of iron and non-alloy steel in ingots rose to $X in 2023 estimated in export price. Overall, production, however, continues to indicate significant growth. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production of attained the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Iron and Non-Alloy Steel in Ingots

Exports in MERCOSUR

Exports of iron and non-alloy steel in ingots expanded rapidly to X tons in 2023, surging by X% compared with the previous year's figure. Over the period under review, exports, however, showed a abrupt setback. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports of remained at a lower figure.

In value terms, exports of iron and non-alloy steel in ingots amounted to $X in 2023. In general, exports, however, showed a deep slump. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Venezuela (X tons) was the major exporter of iron and non-alloy steel in ingots, achieving X% of total exports. It was distantly followed by Brazil (X tons), constituting a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to iron and non-alloy steel in ingot exports from Venezuela stood at X%. At the same time, Brazil (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2023. Brazil (X p.p.) significantly strengthened its position in terms of the total exports, while Venezuela saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Venezuela ($X) remains the largest iron and non-alloy steel in ingot supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with an X% share of total exports.

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

Export Prices by Country

In 2023, the export price in MERCOSUR amounted to $X per ton, reducing by X% against the previous year. In general, the export price showed a abrupt curtailment. The pace of growth was the most pronounced in 2018 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Venezuela stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Venezuela (X%).

Imports of Iron and Non-Alloy Steel in Ingots

Imports in MERCOSUR

In 2023, imports of iron and non-alloy steel in ingots in MERCOSUR soared to X tons, jumping by X% compared with 2022. Over the period under review, imports showed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports of attained the peak figure in 2023 and are likely to continue growth in years to come.

In value terms, imports of iron and non-alloy steel in ingots soared to $X in 2023. Overall, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports of attained the maximum in 2023 and are likely to see steady growth in the near future.

Imports by Country

In 2023, Brazil (X tons) represented the major importer of iron and non-alloy steel in ingots, mixing up X% of total imports. It was distantly followed by Peru (X tons), achieving a X% share of total imports. Argentina (X tons) followed a long way behind the leaders.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2023. At the same time, Peru (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of X% from 2012-2023. While the share of Brazil (X p.p.) and Peru (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Argentina (X p.p.) displayed negative dynamics.

In value terms, Brazil ($X), Peru ($X) and Argentina ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

In terms of the main importing countries, Brazil, with a CAGR of X%, recorded 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

The import price in MERCOSUR stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the import price showed a pronounced shrinkage. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the import prices failed to regain momentum.

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 Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform