Africa: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Africa

The African market for hot-rolled non-alloy steel wire rods reduced notably to $X in 2021, with a decrease of -16.8% against the previous year. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +55.7% against 2013 indices. As a result, consumption attained the peak level of $X, and then reduced remarkably in the following year.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Africa

In value terms, hot-rolled non-alloy steel wire rod production reduced markedly to $X in 2021 estimated in export price. Overall, production, however, saw resilient growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 45% against the previous year. As a result, production attained the peak level of $X, and then contracted dramatically in the following year.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports in Africa

In 2021, hot-rolled non-alloy steel wire rod exports in Africa soared to X tons, with an increase of 125% compared with the previous year. Overall, exports recorded a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled non-alloy steel wire rod exports soared to $X in 2021. In general, exports recorded resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Egypt (X tons) and Algeria (X tons) represented the largest exporters of hot-rolled non-alloy steel wire rods in Africa, together accounting for near 69% of total exports. It was distantly followed by South Africa (X tons), Tunisia (X tons) and Senegal (X tons), together constituting a 25% share of total exports. Morocco (X tons) and Benin (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Algeria (with a CAGR of +9,049.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled non-alloy steel wire rod supplying countries in Africa were Egypt ($X), Algeria ($X) and South Africa ($X), together accounting for 82% of total exports.

Among the main exporting countries, Algeria, with a CAGR of +13,648.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, jumping by 31% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Morocco ($X per ton) and Egypt ($X per ton), while Senegal ($X per ton) and South Africa ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+50.4%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports in Africa

In 2021, purchases abroad of hot-rolled non-alloy steel wire rods decreased by -10% to X tons, falling for the second consecutive year after two years of growth. Overall, imports showed a perceptible contraction. The pace of growth was the most pronounced in 2019 with an increase of 31%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports skyrocketed to $X in 2021. Over the period under review, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 23% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Senegal (X tons), Ghana (X tons), Cote d'Ivoire (X tons), Kenya (X tons) and Burkina Faso (X tons) represented the largest importer of hot-rolled non-alloy steel wire rods in Africa, comprising 51% of total import. Morocco (X tons) held the next position in the ranking, followed by Togo (X tons) and Tanzania (X tons). All these countries together held approx. 15% share of total imports. Cameroon (X tons), Egypt (X tons), Benin (X tons), Mauritius (X tons) and Mali (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +17.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled non-alloy steel wire rod importing markets in Africa were Senegal ($X), Ghana ($X) and Kenya ($X), with a combined 32% share of total imports. These countries were followed by Cote d'Ivoire, Burkina Faso, Morocco, Togo, Tanzania, Egypt, Cameroon, Mauritius, Benin and Mali, which together accounted for a further 48%.

Tanzania, with a CAGR of +14.5%, recorded 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.

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, increasing by 31% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Egypt ($X per ton) and Mauritius ($X per ton), while Cameroon ($X per ton) and Burkina Faso ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform