Kenya: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2024

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Kenya

After two years of decline, the Kenyan market for hot-rolled wire rod in coil of stainless steel increased by 0.5% to $X in 2022. Over the period under review, consumption, however, showed a abrupt setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Kenya

In value terms, hot-rolled wire stainless steel rod production stood at $X in 2022 estimated in export price. Overall, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.8% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 16%. Hot-rolled wire stainless steel rod production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports from Kenya

After three years of decline, overseas shipments of hot-rolled wire rod in coil of stainless steel increased by 12% to X tons in 2022. Overall, exports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 95%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod exports expanded remarkably to $X in 2022. Over the period under review, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of 134% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Uganda (X tons) was the main destination for hot-rolled wire stainless steel rod exports from Kenya, with a 97% share of total exports. It was followed by Democratic Republic of the Congo (X kg), with a 2.7% share of total exports. Burundi (X kg) ranked third in terms of total exports with a 0.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Uganda totaled -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (-25.3% per year) and Burundi (-32.6% per year).

In value terms, Uganda ($X) remains the key foreign market for hot-rolled wire rod in coil of stainless steel exports from Kenya, comprising 92% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a 5.9% share of total exports. It was followed by Burundi, with a 1% share.

From 2012 to 2022, the average annual growth rate of value to Uganda stood at +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (-15.6% per year) and Burundi (-27.3% per year).

Export Prices by Country

In 2022, the average export price for hot-rolled wire rod in coil of stainless steel amounted to $X per ton, flattening at the previous year. In general, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled wire stainless steel rod export price increased by +63.8% against 2013 indices. The pace of growth appeared the most rapid in 2018 an increase of 20% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted slightly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Uganda ($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 Tanzania (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports into Kenya

In 2022, overseas purchases of hot-rolled wire rod in coil of stainless steel were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 621%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, hot-rolled wire stainless steel rod imports expanded markedly to $X in 2022. In general, imports, however, showed a precipitous shrinkage. The growth pace was the most rapid in 2018 with an increase of 506% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

South Africa (X tons), India (X tons) and Turkey (X tons) were the main suppliers of hot-rolled wire stainless steel rod imports to Kenya, together comprising 73% of total imports. China, Italy, the United Arab Emirates and the UK lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +23.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, India ($X) constituted the largest supplier of hot-rolled wire rod in coil of stainless steel to Kenya, comprising 37% of total imports. The second position in the ranking was held by Turkey ($X), with an 11% share of total imports. It was followed by China, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value from India totaled -25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+24.6% per year) and China (-19.0% per year).

Import Prices by Country

In 2022, the average import price for hot-rolled wire rod in coil of stainless steel amounted to $X per ton, surging by 6.1% against the previous year. In general, the import price, however, showed a pronounced setback. The growth pace was the most rapid in 2015 an increase of 174%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a 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 the United Arab Emirates ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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