SADC: Market for Raw Steel And Steel Semi-Finished Products 2024

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

The SADC market for raw steel and steel semi-finished products expanded to $X in 2021, with an increase of 2.4% against the previous year. Overall, consumption, however, showed a noticeable contraction. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

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

In value terms, production of raw steel and steel semi-finished products amounted to $X in 2021 estimated in export price. Overall, production, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 22%. Over the period under review, production of hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports in SADC

Exports of raw steel and steel semi-finished products reduced to X tons in 2021, which is down by -6.4% against 2020. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 168%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, exports of raw steel and steel semi-finished products soared to $X in 2021. Overall, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 225%. Over the period under review, the exports of hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, South Africa (X tons) represented the key exporter of raw steel and steel semi-finished products in SADC, committing 97% of total export.

South Africa was also the fastest-growing in terms of the raw steel and steel semi-finished products exports, with a CAGR of +6.8% from 2012 to 2021. South Africa (+5.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest raw steel and steel semi-finished products supplier in SADC.

In South Africa, exports of raw steel and steel semi-finished products expanded at an average annual rate of +5.7% over the period from 2012-2021.

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, with an increase of 49% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to -1.0% per year.

Imports of Raw Steel And Steel Semi-Finished Products

Imports in SADC

In 2021, imports of raw steel and steel semi-finished products in SADC surged to X tons, rising by 23% compared with the year before. Overall, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 496% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, imports of raw steel and steel semi-finished products surged to $X in 2021. Over the period under review, imports saw significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 217%. Over the period under review, imports of attained the maximum in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Tanzania dominates products structure, amounting to X tons, which was approx. 83% of total imports in 2021. South Africa (X tons) ranks second in terms of the total imports with a 6.4% share, followed by Mauritius (5.8%). Democratic Republic of the Congo (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to raw steel and steel semi-finished products imports into Tanzania stood at +47.6%. At the same time, Mauritius (+99.8%) and Democratic Republic of the Congo (+15.1%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing importer imported in SADC, with a CAGR of +99.8% from 2012-2021. By contrast, South Africa (-4.3%) illustrated a downward trend over the same period. Tanzania (+68 p.p.) and Mauritius (+5.7 p.p.) significantly strengthened its position in terms of the total imports, while Democratic Republic of the Congo and South Africa saw its share reduced by -2.4% and -52.9% from 2012 to 2021, respectively.

In value terms, the largest raw steel and steel semi-finished products importing markets in SADC were Tanzania ($X), South Africa ($X) and Mauritius ($X), with a combined 96% share of total imports.

In terms of the main importing countries, Mauritius, with a CAGR of +68.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, growing by 83% against the previous year. In general, the import price, however, recorded a mild downturn. The level of import 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 importing countries. In 2021, the country with the highest price was South Africa ($X per ton), while Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+21.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform