Ghana: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Ghana

The Ghanian steel stranded wire market expanded remarkably to $X in 2022, surging by 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a pronounced increase. Steel stranded wire consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Steel Stranded Wire Exports

Exports from Ghana

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were exported from Ghana; falling by -14.9% on the previous year's figure. In general, exports saw a perceptible decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 573% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, steel stranded wire exports rose markedly to $X in 2022. Overall, exports saw a noticeable decrease. The pace of growth was the most pronounced in 2015 with an increase of 796% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Congo (X tons) was the main destination for steel stranded wire exports from Ghana, accounting for a 71% share of total exports. Moreover, steel stranded wire exports to Congo exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), tenfold. Benin (X kg) ranked third in terms of total exports with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to Congo stood at +81.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+34.1% per year) and Benin (+85.6% per year).

In value terms, Congo ($X) remains the key foreign market for iron or steel stranded wire, ropes and cables exports from Ghana, comprising 50% of total exports. The second position in the ranking was taken by Benin ($X), with a 21% share of total exports. It was followed by Burkina Faso, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Congo totaled +58.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+109.3% per year) and Burkina Faso (-15.0% per year).

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, growing by 25% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 35%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Burkina Faso (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Ghana

In 2022, the amount of iron or steel stranded wire, ropes and cables imported into Ghana amounted to X tons, picking up by 12% compared with the year before. Over the period under review, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2019 when imports increased by 136%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, steel stranded wire imports stood at $X in 2022. Overall, imports continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 88% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest steel stranded wire supplier to Ghana, with a 72% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, Lebanon (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (+46.9% per year) and India (+4.3% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel stranded wire, ropes and cables to Ghana, comprising 47% of total imports. The second position in the ranking was taken by Belgium ($X), with an 8.2% share of total imports. It was followed by Japan, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+38.9% per year) and Japan (+21.4% per year).

Import Prices by Country

In 2022, the average steel stranded wire import price amounted to $X per ton, almost unchanged from the previous year. Overall, the import price, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2016 an increase of 53%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained 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 Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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