The apparent consumption of steel products in Chile reached 2.371 million mt in 2024, a 0.7 percent decrease from 2023, according to the country's steel institute, ICHA. Despite the decline, the result is better than expected, as the first half of 2024 saw a 6.7 percent decline from the same period in 2023, leading to a forecast of a 7 percent decline for the year.

In 2024, Chilean consumption of long steel products increased by 5.5 percent to 1.097 million mt, while flat steel product consumption declined by 4.9 percent to 1.249 million mt. Reflecting the stoppage of steel production by Siderurgica Huachipato last year, imports represented 75 percent of the country's steel consumption, the highest ratio in the past ten years. China supplied 65 percent of the total steel imported by Chile in 2024.

For 2025, ICHA forecasts an apparent steel consumption increase of 4.0 percent from 2024.