Africa: Pig Iron Market 2022

Pig Iron Market Size in Africa

The African pig iron market expanded slightly to $X in 2021, with an increase of 4.4% against the previous year. Over the period under review, consumption continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2019 when the market value increased by 8.1% against the previous year. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Pig Iron Production in Africa

In value terms, pig iron production rose significantly to $X in 2021 estimated in export price. In general, production, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2019 with an increase of 14% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Pig Iron Exports

Exports in Africa

After two years of decline, overseas shipments of pig iron and spiegeleisen increased by 35% to X tons in 2021. In general, exports, however, continue to indicate a mild curtailment. The growth pace was the most rapid in 2017 when exports increased by 67% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, pig iron exports soared to $X in 2021. Overall, exports, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 82% against the previous year. The level of export peaked 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 88% of total exports in 2021. It was distantly followed by Libya (X tons), mixing up a 4.3% share of total exports. The following exporters - Libya (X tons), Algeria (X tons) and Mali (X tons) - together made up 11% of total exports.

South Africa was also the fastest-growing in terms of the pig iron and spiegeleisen exports, with a CAGR of -2.1% from 2012 to 2021. Libya (-2.7%), Algeria (-4.3%) and Mali (-29.3%) illustrated a downward trend over the same period. While the share of Mali (+2.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest pig iron supplier in Africa, comprising 88% of total exports. The second position in the ranking was held by Libya ($X), with a 6.6% share of total exports. It was followed by Algeria, with a 4.4% share.

In South Africa, pig iron exports declined by an average annual rate of -4.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Libya (+3.6% per year) and Algeria (-3.4% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, increasing by 10% against the previous year. Over the period under review, the export price, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Libya ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Libya (+6.5%), while the other leaders experienced mixed trends in the export price figures.

Pig Iron Imports

Imports in Africa

Pig iron imports shrank notably to X tons in 2021, falling by -22.3% against 2020 figures. In general, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2016 when imports increased by 70% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, pig iron imports fell modestly to $X in 2021. Overall, imports saw a noticeable downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 33%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Morocco (X tons), Togo (X tons) and Egypt (X tons) represented the main importer of pig iron and spiegeleisen in Africa, achieving 45% of total import. Algeria (X tons) held an 8.8% share (based on physical terms) of total imports, which put it in second place, followed by Egypt (16%), Mozambique (11%), South Africa (15%) and Tunisia (7.2%). Mauritius (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were in Tunisia (with a CAGR of +25.8%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, South Africa ($X) constitutes the largest market for imported pig iron and spiegeleisen in Africa, comprising 31% of total imports. The second position in the ranking was taken by Morocco ($X), with a 15% share of total imports. It was followed by Algeria, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa amounted to +17.1%. In the other countries, the average annual rates were as follows: Morocco (-8.2% per year) and Algeria (-3.6% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, jumping by 24% against the previous year. Import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pig iron import price increased by +79.8% against 2016 indices. The pace of growth appeared the most rapid in 2020 when the import price increased by 32%. Over the period under review, import prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: 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 South Africa (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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