Libya: Market for Hot-Rolled Steel Bars and Rods 2025

Market Size for Hot-Rolled Steel Bars and Rods in Libya

The Libyan market for hot-rolled steel bars and rods skyrocketed to $X in 2021, picking up by 583% 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). Overall, consumption, however, saw a deep downturn. Hot-rolled steel bar and rod consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Libya

In 2021, shipments abroad of hot-rolled steel bars and rods increased by 121% to X tons, rising for the third year in a row after two years of decline. Overall, exports continue to indicate resilient growth. The growth pace was the most rapid in 2019 with an increase of 393%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, hot-rolled steel bar and rod exports surged to $X in 2021. In general, exports showed a temperate expansion. The growth pace was the most rapid in 2019 when exports increased by 385%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Lebanon (X tons) was the main destination for hot-rolled steel bar and rod exports from Libya, accounting for a 90% share of total exports. Moreover, hot-rolled steel bar and rod exports to Lebanon exceeded the volume sent to the second major destination, Tunisia (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Lebanon stood at +53.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (+29.3% per year) and Senegal (0.0% per year).

In value terms, Lebanon ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Libya, comprising 91% of total exports. The second position in the ranking was taken by Tunisia ($X), with a 4.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Lebanon amounted to +79.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (+43.2% per year) and Senegal (0.0% per year).

Export Prices by Country

The average export price for hot-rolled steel bars and rods stood at $X per ton in 2021, picking up by 40% against the previous year. Overall, the export price, however, showed a noticeable decrease. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Lebanon ($X per ton), while the average price for exports to Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Libya

In 2021, hot-rolled steel bar and rod imports into Libya skyrocketed to X tons, picking up by 365% on the previous year's figure. Overall, imports, however, continue to indicate a abrupt shrinkage. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, hot-rolled steel bar and rod imports soared to $X in 2021. In general, imports, however, recorded a abrupt descent. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest hot-rolled steel bar and rod supplier to Libya, accounting for a 73% share of total imports. Moreover, hot-rolled steel bar and rod imports from Turkey exceeded the figures recorded by the second-largest supplier, Tunisia (X tons), fivefold. Ukraine (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to -13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Tunisia (+18.0% per year) and Ukraine (-16.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of hot-rolled steel bars and rods to Libya, comprising 72% of total imports. The second position in the ranking was taken by Tunisia ($X), with a 17% share of total imports. It was followed by Egypt, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to -12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Tunisia (+18.7% per year) and Egypt (+6.7% per year).

Import Prices by Country

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2021, growing by 56% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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