Argentina Steel Market Shipment Analysis
Argentina Steel Market registered a growth of 22.89% in value shipments in 2022 as compared to 2021 and an increase of 6.29% CAGR in 2022 over a period of 2017. In Steel Market Argentina is becoming less competitive as HHI index in 2022 was 1494 while in 2017 it was 1114. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Argentina has reportedly relied more on imports to meet its growing demand in Steel Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Steel Market in 2022 was 33.97 while in 2017 it was 20.97. Brazil, China, Thailand, USA and Japan were among the top players of the market in 2022, where Brazil acquired the largest market share of 25.06% with a shipment value of 15.64 million USD in 2022 Brazil also offered the product below the average market price thus having a competitive advantage over others In 2017 Brazil had the largest market share of 19.38% with the shipment value of 6.82 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Brazil price is lower than the average price, it provided a significant edge among other competitor in 2017.
