SADC: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in SADC

For the fourth year in a row, the SADC hot-rolled steel products market recorded growth in sales value, which increased by 4.2% to $X in 2021. The market value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the immediate term.

Hot-Rolled Steel Products Production in SADC

In value terms, hot-rolled steel products production dropped slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when the production volume increased by 16%. The level of production peaked at $X in 2020, and then fell slightly in the following year.

Hot-Rolled Steel Products Exports

Exports in SADC

In 2021, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, faced a deep reduction. The pace of growth appeared the most rapid in 2018 when exports increased by 28% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled steel products exports soared to $X in 2021. Over the period under review, exports, however, saw a abrupt shrinkage. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa dominates exports structure, reaching X tons, which was approx. 93% of total exports in 2021. Mozambique (X tons) and Zambia (X tons) held a relatively small share of total exports.

Exports from South Africa decreased at an average annual rate of -16.7% from 2012 to 2021. At the same time, Mozambique (+61.0%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing exporter exported in SADC, with a CAGR of +61.0% from 2012-2021. Zambia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Mozambique and Zambia increased by +2.7 and +1.6 percentage points, respectively.

In value terms, South Africa ($X) remains the largest hot-rolled steel products supplier in SADC, comprising 95% of total exports. The second position in the ranking was taken by Mozambique ($X), with a 1.8% share of total exports.

In South Africa, hot-rolled steel products exports contracted by an average annual rate of -12.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mozambique (+58.3% per year) and Zambia (+5.6% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, increasing by 22% against the previous year. Export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled steel products export price increased by +66.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by 40% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zambia (+4.6%), while the other leaders experienced mixed trends in the export price figures.

Hot-Rolled Steel Products Imports

Imports in SADC

In 2021, overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 21% to X tons, rising for the third consecutive year after three years of decline. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +78.1% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 33% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, hot-rolled steel products imports soared to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +121.1% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Tanzania (X tons) and South Africa (X tons) dominates imports structure, together comprising 74% of total imports. It was distantly followed by Angola (X tons) and Zambia (X tons), together mixing up a 14% share of total imports. Mozambique (X tons), Botswana (X tons) and Democratic Republic of the Congo (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Botswana (with a CAGR of +13.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Tanzania ($X), South Africa ($X) and Zambia ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 76% of total imports. Angola, Mozambique, Democratic Republic of the Congo and Botswana lagged somewhat behind, together accounting for a further 19%.

In terms of the main importing countries, Mozambique, with a CAGR of +16.3%, saw the highest growth rate of 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

In 2021, the import price in SADC amounted to $X per ton, picking up by 38% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mozambique (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform