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 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 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 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 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.