Angola: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Angola

In 2022, after three years of growth, there was significant decline in the Angolan steel stranded wire market, when its value decreased by -8.7% to $X. Over the period under review, consumption recorded a deep slump. Steel stranded wire consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Steel Stranded Wire Exports

Exports from Angola

In 2022, overseas shipments of iron or steel stranded wire, ropes and cables increased by 250% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports recorded strong growth. The growth pace was the most rapid in 2014 with an increase of 789% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, steel stranded wire exports surged to $X in 2022. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 528%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Norway (X tons) was the main destination for steel stranded wire exports from Angola, with a 49% share of total exports. Moreover, steel stranded wire exports to Norway exceeded the volume sent to the second major destination, Congo (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway amounted to +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Congo (+10.3% per year) and the United States (+75.4% per year).

In value terms, the largest markets for steel stranded wire exported from Angola were Congo ($X), Norway ($X) and the United States ($X), with a combined 83% share of total exports.

The United States, with a CAGR of +27.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average steel stranded wire export price amounted to $X per ton, waning by -25.1% against the previous year. Over the period under review, the export price, however, saw notable growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 128% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+21.6%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Angola

After three years of growth, purchases abroad of iron or steel stranded wire, ropes and cables decreased by -7.8% to X tons in 2022. In general, imports recorded a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 37%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, steel stranded wire imports declined slightly to $X in 2022. Over the period under review, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 40% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel stranded wire to Angola, accounting for a 53% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. Spain (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-14.4% per year) and Spain (-11.7% per year).

In value terms, China ($X), the UK ($X) and Gabon ($X) were the largest steel stranded wire suppliers to Angola, with a combined 55% share of total imports.

Gabon, with a CAGR of +47.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steel stranded wire import price stood at $X per ton in 2022, growing by 3.2% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 16% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Gabon ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gabon (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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