Libya: Market for Raw Steel And Steel Semi-Finished Products 2025

Market Size for Raw Steel And Steel Semi-Finished Products in Libya

In 2021, the Libyan market for raw steel and steel semi-finished products was finally on the rise to reach $X after two years of decline. Overall, consumption saw notable growth. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Raw Steel And Steel Semi-Finished Products in Libya

In value terms, production of raw steel and steel semi-finished products soared to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 193% against the previous year. Over the period under review, production of reached the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Libya

In 2021, approx. X tons of raw steel and steel semi-finished products were exported from Libya; with a decrease of -7.2% on 2020 figures. Overall, exports, however, showed a noticeable increase. The pace of growth appeared the most rapid in 2020 when exports increased by 291%. As a result, the exports attained the peak of X tons, and then dropped in the following year.

In value terms, exports of raw steel and steel semi-finished products skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 252% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Turkey (X tons), Tunisia (X tons) and Egypt (X tons) were the main destinations of exports of raw steel and steel semi-finished products from Libya.

From 2012 to 2021, the biggest increases were recorded for Tunisia (with a CAGR of +841.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Turkey ($X), Tunisia ($X) and Egypt ($X) were the largest markets for raw steel and steel semi-finished products exported from Libya worldwide.

Tunisia, with a CAGR of +393.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2021, rising by 31% against the previous year. Over the period under review, the export price, however, saw a slight decline. The growth pace was the most rapid in 2016 when the average export price increased by 109%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Egypt ($X per ton), while the average price for exports to Turkey ($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 Egypt (+7.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Libya

In 2021, after two years of decline, there was significant growth in purchases abroad of raw steel and steel semi-finished products, when their volume increased by 50% to X tons. Overall, imports saw mild growth. The most prominent rate of growth was recorded in 2018 with an increase of 278%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of raw steel and steel semi-finished products soared to $X in 2021. In general, imports showed a slight increase. The pace of growth was the most pronounced in 2018 with an increase of 331%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2021, Ukraine (X tons) was the main raw steel and steel semi-finished products supplier to Libya, accounting for a 99.9% share of total imports. It was followed by Turkey (X tons), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Ukraine was relatively modest.

In value terms, Ukraine ($X) constituted the largest supplier of raw steel and steel semi-finished products to Libya, comprising 100% of total imports. The second position in the ranking was held by Turkey ($X), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Ukraine stood at +2.1%.

Import Prices by Country

In 2021, the average import price for raw steel and steel semi-finished products amounted to $X per ton, jumping by 36% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per ton), while the price for Ukraine stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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