Argentina's Iron and Steel Industry: Import Trends With Forecast of 2023
12 June 2023
Argentina’s iron and steel industry is at an
overwhelming market stage as the output has declined. As per sources, the
production of iron and steel in Argentina fell in the year 2023 due to which
the rise in imports has been speculated. The imports of iron and steel by
Argentina have gone through fluctuations in 2022, yet continued to increase by
the end of the year and in the later months. Our trade data AI-powered models
predict the overall growth of Argentina’s iron and steel industry by the value
of imports.
Argentina’s
Iron and Steel Industry – Top Imports
The below graph represents the top imported products
by Argentina among the wide spectrum of Chapter 72—Iron and Steel. The
commodities are segregated into the classification of Heading, as shown in the
table below it.
The highest amount of imports accounted for flat-rolled iron plated/coated with a total value of $3.7 billion, followed by other alloy steel flat-rolled products with a total value of $1.5 billion, $1.3 billion for flat-rolled iron non-alloy. Check the full list of top imports in the shown datasets below.
Argentina's Top
Imported Products In Chapter 72 [Iron & Steel] (Jan'22-Feb'23) |
|
Product |
Value USD Billion |
Flat-Rolled
Iron Plated/Coated |
3.77 |
Flat-Rolled
Products of Other Alloy Steel |
1.51 |
Flat-Rolled
Iron Non-Alloy |
1.38 |
Iron/Non-Alloy
Steel Angles, Shapes, Sections |
0.969 |
Stainless
Steel Flat-Rolled Products |
0.612 |
Argentina’s
Iron and Steel – Top Trading Partners
According to Argentina import data, the top importing countries for iron and steel imports for the mentioned period are—Brazil ($7.1 billion), followed by China ($1.2 billion), Mexico ($308.3 million), South Africa ($216.8 million), India ($210.4 million), along with other shown countries.
Argentina's Top
Importing Partners For Iron & Steel (Jan'22-Feb'23) |
|
Country |
Value USD Million |
Brazil |
7,114.17 |
China |
1,256.35 |
Mexico |
308.39 |
South
Africa |
216.89 |
India |
210.49 |
Turkey |
184.40 |
Spain |
119.27 |
United
States of America |
100.36 |
Germany |
96.97 |
South
Korea |
88.46 |
Argentina’s
Iron and Steel – Monthly Imports 2022
The below-shown data features the monthly imports of iron and steel by Argentina for 2022. According to Argentina import data 2022, while January kick-started with a high value of $1.01 billion, the following months registered a downfall and fluctuations till December with $1.02 billion.
Argentina's Iron
& Steel Monthly Imports 2022 |
|
Month |
Value USD Million |
January |
1,016.17 |
February |
690.84 |
March |
611.12 |
April |
857.87 |
May |
665.04 |
June |
341.99 |
July |
761.27 |
August |
531.88 |
September |
617.26 |
October |
795.89 |
November |
715.97 |
December |
1,020.34 |
Argentina’s
Iron and Steel Industry Forecast 2023
As per Argentina imports 2023, the below-shown data features the current value of imports of iron and steel by Argentina, following the values of forecast to predict Argentina’s iron and steel industry market trend in the next few upcoming months (till February 2024, as per available data).
Argentina's Iron
& Steel – Import Forecast 2023-Feb’24 |
||
January'23 |
1,140.21 |
Forecast Values |
February'23 |
362.07 |
|
|
March'23 |
740.06 |
|
April'23 |
951.37 |
|
May'23 |
746.27 |
|
June'23 |
574.89 |
|
July'23 |
740.06 |
|
August'23 |
951.37 |
|
September'23 |
746.27 |
|
October'23 |
574.89 |
|
November'23 |
740.06 |
|
December'23 |
951.37 |
|
January’24 |
746.27 |
|
February’24 |
574.89 |
|
Value USD Million |
Argentina’s iron and steel imports predict that while
the imports at the beginning of 2023 started off with a high value of $1.1
billion, the values will decline with the passing of months, standing at a
value of imports as low as $574.8 million.
This shows that the value of imports will decline in
the next market trend waves, and Argentina’s iron and steel industry will
register a certain level of growth in output levels and production. Argentina’s
steel output will rise as opposed to the 19.6PC downfall in January 2023.