Price for Iron and Non-Alloy Steel in Ingot in Chile - 2023

Price for Iron and Non-Alloy Steel in Ingot in Chile (CIF) - 2022

The average import price for iron and non-alloy steel in ingots stood at $10,157 per ton in 2022, jumping by 252% against the previous year. In general, the import price enjoyed resilient growth. The pace of growth appeared the most rapid in 2018 an increase of 355% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($14,293 per ton), while the price for the United States ($2,986 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+123.7%), while the prices for the other major suppliers experienced a decline.

Price for Iron and Non-Alloy Steel in Ingot in Chile (FOB) - 2022

In 2021, the average export price for iron and non-alloy steel in ingots amounted to $680 per ton, therefore, remained relatively stable against the previous year. Overall, the export price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2014 when the average export price increased by 49%. The export price peaked at $3,660 per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Peru.

From 2012 to 2021, the rate of growth in terms of prices for Peru amounted to -7.0% per year.

Imports of Iron and Non-Alloy Steel in Ingot in Chile

In 2022, purchases abroad of iron and non-alloy steel in ingots decreased by -17.9% to 5.5 tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 662% against the previous year. As a result, imports attained the peak of 25 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of iron and non-alloy steel in ingots skyrocketed to $56K in 2022. Overall, imports, however, recorded significant growth. The growth pace was the most rapid in 2020 when imports increased by 553% against the previous year. As a result, imports reached the peak of $63K. From 2021 to 2022, the growth of imports of failed to regain momentum.

Import of Iron and Non-Alloy Steel in Ingot in Chile (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	0.1	2.1	0.5	14.6	426.6%
United States	3.7	27.0	2.2	13.6	54.3%
Italy	0.1	0.9	0.6	13.3	410.4%
Spain	0.4	9.3	1.0	N/A	58.1%
Netherlands	0.8	8.2	5.2	N/A	155.0%
Australia	1.7	12.3	5.3	N/A	76.6%
Others	2.9	3.2	4.6	14.3	70.2%
Total	9.6	63.0	19.3	55.7	79.7%

Top Suppliers of Iron and Non-Alloy Steel in Ingot to Chile in 2022:

United States (4.5 tons)
Italy (2.8 tons)
China (1.0 tons)

Exports of Iron and Non-Alloy Steel in Ingot in Chile

In 2021, exports of iron and non-alloy steel in ingots from Chile was estimated at 25 tons, approximately equating the previous year. In general, exports showed a relatively flat trend pattern. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, exports of iron and non-alloy steel in ingots totaled $17K in 2021. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports of reached the maximum in 2021 and are expected to retain growth in the immediate term.