Feb 21, 2026
IndexBox has just published a new report: Latin America and the Caribbean – Hot-Rolled Steel Bars and Rods – Market Analysis, Forecast, Size, Trends and Insights.
The article provides a comprehensive analysis of the hot-rolled steel bar and rod market in Latin America and the Caribbean for 2024, with a forecast to 2035. It details that market consumption was 23 million tons (valued at $17.5B) in 2024, with a forecasted rise to 27 million tons ($24.2B) by 2035. Brazil, Mexico, and Ecuador are the dominant consumers and producers. The region is a net importer, with imports declining to 3.7M tons in 2024, while exports fell to 1.5M tons. Key trends include Ecuador’s rapid market growth, a decline in trade volumes, and varying price dynamics across product types and countries.
Key Findings
Market is forecast to grow to 27 million tons in volume and $24.2 billion in value by 2035Brazil, Mexico, and Ecuador dominate, accounting for 64% of both consumption and market valueEcuador shows the fastest growth in both consumption and per capita consumptionRegional imports and exports declined sharply in 2024, by -18.8% and -23.6% respectivelyImport and export prices fell in 2024, with significant variation by product type and countryMarket Forecast
Driven by rising demand for hot-rolled steel bar and rod in Latin America and the Caribbean, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.4% for the period from 2024 to 2035, which is projected to bring the market volume to 27M tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2024 to 2035, which is projected to bring the market value to $24.2B (in nominal wholesale prices) by the end of 2035.
ConsumptionLatin America and the Caribbean’s Consumption of Hot-Rolled Steel Bars and Rods
In 2024, the amount of hot-rolled steel bars and rods consumed in Latin America and the Caribbean declined modestly to 23M tons, waning by -2.5% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 8.5% against the previous year. Over the period under review, consumption reached the peak volume at 24M tons in 2013; however, from 2014 to 2024, consumption failed to regain momentum.
The revenue of the market for hot-rolled steel bars and rods in Latin America and the Caribbean dropped to $17.5B in 2024, shrinking by -6.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $22.7B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.
Consumption By Country
The countries with the highest volumes of consumption in 2024 were Brazil (6.5M tons), Mexico (5.5M tons) and Ecuador (2.7M tons), together accounting for 64% of total consumption.
From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Ecuador (with a CAGR of +8.7%), while consumption for the other leaders experienced more modest paces of growth.
In value terms, Brazil ($5B), Mexico ($4.2B) and Ecuador ($2B) were the countries with the highest levels of market value in 2024, together comprising 64% of the total market.
Among the main consuming countries, Ecuador, with a CAGR of +9.3%, recorded the highest growth rate of market size over the period under review, while market for the other leaders experienced more modest paces of growth.
In 2024, the highest levels of hot-rolled steel bar and rod per capita consumption was registered in Ecuador (143 kg per person), followed by Chile (64 kg per person), Mexico (41 kg per person) and Guatemala (36 kg per person), while the world average per capita consumption of hot-rolled steel bar and rod was estimated at 34 kg per person.
From 2013 to 2024, the average annual rate of growth in terms of the hot-rolled steel bar and rod per capita consumption in Ecuador stood at +7.0%. In the other countries, the average annual rates were as follows: Chile (-1.2% per year) and Mexico (+4.0% per year).
ProductionLatin America and the Caribbean’s Production of Hot-Rolled Steel Bars and Rods
In 2024, production of hot-rolled steel bars and rods decreased by -0.9% to 21M tons for the first time since 2016, thus ending a seven-year rising trend. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2023 when the production volume increased by 3.1%. The volume of production peaked at 21M tons in 2013; however, from 2014 to 2024, production remained at a lower figure.
In value terms, hot-rolled steel bar and rod production reduced markedly to $18.1B in 2024 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 38% against the previous year. Over the period under review, production attained the maximum level at $24.4B in 2022; however, from 2023 to 2024, production remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2024 were Brazil (6.5M tons), Mexico (5M tons) and Ecuador (2.6M tons), with a combined 68% share of total production.
From 2013 to 2024, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Ecuador (with a CAGR of +10.3%), while production for the other leaders experienced more modest paces of growth.
ImportsLatin America and the Caribbean’s Imports of Hot-Rolled Steel Bars and Rods
In 2024, the amount of hot-rolled steel bars and rods imported in Latin America and the Caribbean reduced notably to 3.7M tons, dropping by -18.8% on the year before. Over the period under review, imports recorded a pronounced downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 46% against the previous year. As a result, imports attained the peak of 6M tons. From 2022 to 2024, the growth of imports remained at a lower figure.
In value terms, hot-rolled steel bar and rod imports declined remarkably to $3.3B in 2024. In general, imports continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2021 when imports increased by 88%. Over the period under review, imports hit record highs at $5.4B in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.
Imports By Country
The purchases of the four major importers of hot-rolled steel bars and rods, namely Mexico, Brazil, Peru and Chile, represented more than half of total import. The Dominican Republic (161K tons), Bolivia (149K tons), Panama (145K tons), Jamaica (126K tons), Costa Rica (107K tons) and El Salvador (103K tons) followed a long way behind the leaders.
From 2013 to 2024, the biggest increases were recorded for the Dominican Republic (with a CAGR of +6.6%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest hot-rolled steel bar and rod importing markets in Latin America and the Caribbean were Mexico ($981M), Brazil ($526M) and Peru ($320M), with a combined 56% share of total imports. Chile, the Dominican Republic, Bolivia, Panama, El Salvador, Jamaica and Costa Rica lagged somewhat behind, together accounting for a further 26%.
The Dominican Republic, with a CAGR of +5.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Imports By Type
Iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (1.6M tons), hot-rolled bars in bearing steels (1.1M tons) and iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (0.8M tons) represented roughly 94% of total imports in 2024. It was distantly followed by steel, alloy; bars and rods, hot-rolled, in irregularly wound coils (184K tons), making up a 5% share of total imports.
From 2013 to 2024, the biggest increases were recorded for hot-rolled round bars of stainless steel (with a CAGR of +8.3%), while purchases for the other products experienced more modest paces of growth.
In value terms, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling ($1.3B), hot-rolled bars in bearing steels ($1.1B) and iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($531M) appeared to be the products with the highest levels of imports in 2024, with a combined 90% share of total imports. Steel, alloy; bars and rods, hot-rolled, in irregularly wound coils, hot-rolled round bars of stainless steel, hot-rolled wire rod in coil of stainless steel and steel, stainless lagged somewhat behind, together comprising a further 10%.
Hot-rolled round bars of stainless steel, with a CAGR of +10.0%, recorded the highest growth rate of the value of imports, in terms of the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.
Import Prices By Type
The import price in Latin America and the Caribbean stood at $894 per ton in 2024, which is down by -4.5% against the previous year. Import price indicated slight growth from 2013 to 2024: its price increased at an average annual rate of +1.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, hot-rolled steel bar and rod import price decreased by -13.8% against 2022 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 29%. Over the period under review, import prices attained the peak figure at $1,038 per ton in 2022; however, from 2023 to 2024, import prices failed to regain momentum.
Prices varied noticeably by the product type; the product with the highest price was hot-rolled round bars of stainless steel ($6,104 per ton), while the price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($700 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by steel, alloy; bars and rods, hot-rolled, in irregularly wound coils (+3.5%), while the other products experienced more modest paces of growth.
Import Prices By Country
The import price in Latin America and the Caribbean stood at $894 per ton in 2024, reducing by -4.5% against the previous year. Import price indicated mild growth from 2013 to 2024: its price increased at an average annual rate of +1.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, hot-rolled steel bar and rod import price decreased by -13.8% against 2022 indices. The growth pace was the most rapid in 2021 when the import price increased by 29% against the previous year. The level of import peaked at $1,038 per ton in 2022; however, from 2023 to 2024, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Mexico ($1,541 per ton), while Jamaica ($570 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Mexico (+3.2%), while the other leaders experienced more modest paces of growth.
ExportsLatin America and the Caribbean’s Exports of Hot-Rolled Steel Bars and Rods
In 2024, overseas shipments of hot-rolled steel bars and rods decreased by -23.6% to 1.5M tons, falling for the second year in a row after two years of growth. In general, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. The volume of export peaked at 3M tons in 2013; however, from 2014 to 2024, the exports remained at a lower figure.
In value terms, hot-rolled steel bar and rod exports shrank dramatically to $1.2B in 2024. Over the period under review, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 50%. The level of export peaked at $2.5B in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.
Exports By Country
In 2024, Brazil (609K tons) represented the largest exporter of hot-rolled steel bars and rods, constituting 42% of total exports. Mexico (170K tons) took the second position in the ranking, followed by the Dominican Republic (160K tons), Chile (142K tons), Peru (120K tons) and Argentina (75K tons). All these countries together took near 46% share of total exports. Costa Rica (64K tons) followed a long way behind the leaders.
Brazil experienced a relatively flat trend pattern with regard to volume of exports of hot-rolled steel bars and rods. At the same time, Chile (+27.5%), Peru (+2.7%), the Dominican Republic (+2.7%) and Costa Rica (+2.3%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +27.5% from 2013-2024. By contrast, Argentina (-11.4%) and Mexico (-16.8%) illustrated a downward trend over the same period. Brazil (+19 p.p.), Chile (+9.5 p.p.), the Dominican Republic (+7 p.p.), Peru (+5.2 p.p.) and Costa Rica (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Mexico saw its share reduced by -4.5% and -32.2% from 2013 to 2024, respectively.
In value terms, Brazil ($541M) remains the largest hot-rolled steel bar and rod supplier in Latin America and the Caribbean, comprising 45% of total exports. The second position in the ranking was taken by Mexico ($165M), with a 14% share of total exports. It was followed by the Dominican Republic, with a 9.6% share.
From 2013 to 2024, the average annual rate of growth in terms of value in Brazil was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (-14.3% per year) and the Dominican Republic (+2.9% per year).
Exports By Type
Iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling was the major exported product with an export of about 895K tons, which resulted at 62% of total exports. Iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (333K tons) ranks second in terms of the total exports with a 23% share, followed by hot-rolled bars in bearing steels (12%). Steel, alloy; bars and rods, hot-rolled, in irregularly wound coils (44K tons) followed a long way behind the leaders.
Exports of iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling decreased at an average annual rate of -6.0% from 2013 to 2024. At the same time, hot-rolled bars in bearing steels (+6.8%) displayed positive paces of growth. Moreover, hot-rolled bars in bearing steels emerged as the fastest-growing type exported in Latin America and the Caribbean, with a CAGR of +6.8% from 2013-2024. By contrast, steel, alloy; bars and rods, hot-rolled, in irregularly wound coils (-5.8%) and iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (-9.6%) illustrated a downward trend over the same period. While the share of hot-rolled bars in bearing steels (+9.3 p.p.) and iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (+1.6 p.p.) increased significantly in terms of the total exports from 2013-2024, the share of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (-11.1 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.
In value terms, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling ($724M) remains the largest type of hot-rolled steel bars and rods supplied in Latin America and the Caribbean, comprising 60% of total exports. The second position in the ranking was taken by iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($244M), with a 20% share of total exports. It was followed by hot-rolled bars in bearing steels, with a 15% share.
From 2013 to 2024, the average annual rate of growth in terms of the value of iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling exports stood at -5.4%. For the other products, the average annual rates were as follows: iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (-9.2% per year) and hot-rolled bars in bearing steels (+4.8% per year).
Export Prices By Type
The export price in Latin America and the Caribbean stood at $826 per ton in 2024, reducing by -11.2% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 22% against the previous year. Over the period under review, the export prices reached the maximum at $1,076 per ton in 2022; however, from 2023 to 2024, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major exported products. In 2024, the product with the highest price was hot-rolled round bars of stainless steel ($7,420 per ton), while the average price for exports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($734 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by hot-rolled round stainless steel (+4.2%), while the other products experienced more modest paces of growth.
Export Prices By Country
In 2024, the export price in Latin America and the Caribbean amounted to $826 per ton, shrinking by -11.2% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 22% against the previous year. Over the period under review, the export prices hit record highs at $1,076 per ton in 2022; however, from 2023 to 2024, the export prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major exporting countries. In 2024, major exporting countries recorded the following prices: in Mexico ($968 per ton) and Brazil ($889 per ton), while Chile ($700 per ton) and Peru ($708 per ton) were amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Mexico (+3.1%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Market Intelligence Platform
This report provides a comprehensive view of the hot-rolled steel bar and rod industry in Latin America and the Caribbean, tracking demand, supply, and trade flows across the regional value chain. It explains how demand across key channels and end-use segments shapes consumption patterns, while also mapping the role of input availability, production efficiency, and regulatory standards on supply.
Beyond headline metrics, the study benchmarks prices, margins, and trade routes so you can see where value is created and how it moves between exporters and importers within Latin America and the Caribbean. The analysis is designed to support strategic planning, market entry, portfolio prioritization, and risk management in the hot-rolled steel bar and rod landscape in Latin America and the Caribbean.
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Key findings
Regional demand is shaped by both household and industrial usage, with trade flows linking supply hubs to import-reliant countries.
Pricing dynamics reflect unit values, freight costs, exchange rates, and regulatory shifts that affect sourcing decisions.
Supply depends on input availability and production efficiency, creating distinct cost curves across Latin America and the Caribbean.
Market concentration varies by country, creating different competitive landscapes and entry barriers.
The 2035 outlook highlights where capacity investment and demand growth are most aligned within the region.
Report scope
The report combines market sizing with trade intelligence and price analytics for Latin America and the Caribbean. It covers both historical performance and the forward outlook to 2035, allowing you to compare cycles, structural shifts, and policy impacts across countries and sub-regions.
Market size and growth in value and volume terms
Consumption structure by end-use segments and countries
Production capacity, output, and cost dynamics
Regional trade flows, exporters, importers, and balances
Price benchmarks, unit values, and margin signals
Competitive context and market entry conditions
Product coverageProdcom 24106110 – Ribbed or other deformed wire rod (of non-alloy steel)Prodcom 24106120 – Wire rod of free-cutting steelProdcom 24106130 – Wire rod used for concrete reinforcing (mesh/cold ribbed bars)Prodcom 24106140 – Wire rod for tyre cordProdcom 24106190 – Other wire rod (of non-alloy steel)Prodcom 24106210 – Hot-rolled concrete reinforcing barsProdcom 24106230 – Hot-rolled bars in free-cutting steelsProdcom 24106250 – Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)Prodcom 24106300 – Hot-rolled wire rod in coil, of stainless steelProdcom 24106410 – Hot-rolled round bars, of stainless steelProdcom 24106430 – Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)Prodcom 24106510 – Bars and rods of high-speed steel, hot-rolled, in irregularly wound coilsProdcom 24106530 – Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coilsProdcom 24106550 – Hot-rolled wire rod, of bearing steelProdcom 24106570 – Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)Prodcom 24106630 – Hot-rolled bars in bearing steelsProdcom 24106640 – Hot-rolled bars in tool steelsProdcom 24106650 – Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)Country coverageCountry profiles and benchmarks
For the regional report, country profiles provide a consistent view of market size, trade balance, prices, and per-capita indicators across Latin America and the Caribbean. The profiles highlight the largest consuming and producing markets and allow direct benchmarking across peers.
Methodology
The analysis is built on a multi-source framework that combines official statistics, trade records, company disclosures, and expert validation. Data are standardized, reconciled, and cross-checked to ensure consistency across time series.
International trade data (exports, imports, and mirror statistics)
National production and consumption statistics
Company-level information from financial filings and public releases
Price series and unit value benchmarks
Analyst review, outlier checks, and time-series validation
All data are normalized to a common product definition and mapped to a consistent set of codes. This ensures that comparisons across time are aligned and actionable.
Forecasts to 2035
The forecast horizon extends to 2035 and is based on a structured model that links hot-rolled steel bar and rod demand and supply to macroeconomic indicators, trade patterns, and sector-specific drivers. The model captures both cyclical and structural factors and reflects known policy and technology shifts within Latin America and the Caribbean.
Historical baseline: 2012-2025
Forecast horizon: 2026-2035
Scenario-based sensitivity to income growth, substitution, and regulation
Capacity and investment outlook for major producing countries
Each country projection is built from its own historical pattern and the regional context, allowing the report to show where growth is concentrated and where risks are elevated.
Price analysis and trade dynamics
Prices are analyzed in detail, including export and import unit values, regional spreads, and changes in trade costs. The report highlights how seasonality, freight rates, exchange rates, and supply disruptions influence pricing and margins.
Price benchmarks by country and sub-region
Export and import unit value trends
Seasonality and calendar effects in trade flows
Price outlook to 2035 under baseline assumptions
Profiles of market participants
Key producers, exporters, and distributors are profiled with a focus on their operational scale, geographic footprint, product mix, and market positioning. This helps identify competitive pressure points, partnership opportunities, and routes to differentiation.
Business focus and production capabilities
Geographic reach and distribution networks
Cost structure and pricing strategy indicators
Compliance, certification, and sustainability context
How to use this report
Quantify regional demand and identify the most attractive country markets
Evaluate export opportunities and prioritize target destinations
Track price dynamics and protect margins
Benchmark performance against regional competitors
Build evidence-based forecasts for investment decisions
This report is designed for manufacturers, distributors, importers, wholesalers, investors, and advisors who need a clear, data-driven picture of hot-rolled steel bar and rod dynamics in Latin America and the Caribbean.
FAQ
What is included in the hot-rolled steel bar and rod market in Latin America and the Caribbean?
The market size aggregates consumption and trade data at country and sub-regional levels, presented in both value and volume terms.
How are the forecasts to 2035 built?
The projections combine historical trends with macroeconomic indicators, trade dynamics, and sector-specific drivers.
Does the report cover prices and margins?
Yes, it includes export and import unit values, regional spreads, and a pricing outlook to 2035.
Which countries are profiled in detail?
The report provides profiles for the largest consuming and producing countries in Latin America and the Caribbean.
Can this report support market entry decisions?
Yes, it highlights demand hotspots, trade routes, pricing trends, and competitive context.