Africa: Iron And Steel Market 2024

Iron And Steel Market Size in Africa

The African iron and steel market skyrocketed to $X in 2021, picking up by 16% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Iron And Steel Production in Africa

In value terms, iron and steel production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 25%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Iron And Steel Exports

Exports in Africa

In 2021, overseas shipments of iron and steel increased by 19% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2017 with an increase of 74% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, iron and steel exports surged to $X in 2021. Over the period under review, exports, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2017 when exports increased by 96% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa dominates exports structure, reaching X tons, which was near 92% of total exports in 2021. It was distantly followed by Egypt (X tons), making up a 5.2% share of total exports. Algeria (X tons) followed a long way behind the leaders.

South Africa was also the fastest-growing in terms of the iron and steel exports, with a CAGR of -2.7% from 2012 to 2021. Egypt (-3.6%) and Algeria (-11.5%) illustrated a downward trend over the same period. South Africa (+3.3 p.p.) significantly strengthened its position in terms of the total exports, while Algeria saw its share reduced by -2.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest iron and steel supplier in Africa, comprising 91% of total exports. The second position in the ranking was held by Egypt ($X), with a 6.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Africa amounted to -4.1%. In the other countries, the average annual rates were as follows: Egypt (-4.7% per year) and Algeria (-11.0% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, surging by 18% against the previous year. In general, the export price, however, showed a mild curtailment. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+0.6%), while the other leaders experienced a decline in the export price figures.

Iron And Steel Imports

Imports in Africa

In 2021, after two years of decline, there was significant growth in purchases abroad of iron and steel, when their volume increased by 17% to X tons. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 200%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, iron and steel imports reduced to $X in 2021. Over the period under review, imports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 34% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Democratic Republic of the Congo (X tons), distantly followed by Togo (X tons), Ethiopia (X tons), Sudan (X tons), Tunisia (X tons) and Morocco (X tons) were the key importers of iron and steel, together mixing up 75% of total imports. South Africa (X tons), Mozambique (X tons), Egypt (X tons), Kenya (X tons) and Algeria (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Democratic Republic of the Congo (with a CAGR of +89.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sudan ($X), Democratic Republic of the Congo ($X) and Tunisia ($X) constituted the countries with the highest levels of imports in 2021, together comprising 43% of total imports.

Among the main importing countries, Democratic Republic of the Congo, with a CAGR of +56.6%, saw the highest rates of growth with regard to the value of imports, 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, falling by -24.1% against the previous year. Overall, the import price showed a pronounced contraction. The pace of growth was the most pronounced in 2019 when the import price increased by 129% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sudan (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform