South Africa: Base Metal Hook Market 2024

Base Metal Hook Market Size in South Africa

The South African base metal hook market surged to $X in 2022, with an increase of 30% 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 saw resilient growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the near future.

Base Metal Hook Exports

Exports from South Africa

In 2022, overseas shipments of base metal hooks, eyes and eyelets increased by 44% to X tons, rising for the second year in a row after two years of decline. In general, total exports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.5% against 2020 indices. The growth pace was the most rapid in 2015 when exports increased by 59% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, base metal hook exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +92.8% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Namibia (X tons), Botswana (X tons) and Swaziland (X tons) were the main destinations of base metal hook exports from South Africa, with a combined 56% share of total exports. Tanzania, Zambia, Lesotho, Senegal, Mozambique and Zimbabwe lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +54.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for base metal hook exported from South Africa were Tanzania ($X), Namibia ($X) and Swaziland ($X), together accounting for 54% of total exports.

Tanzania, with a CAGR of +44.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2022, picking up by 5.3% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 32% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Zimbabwe ($X per ton), while the average price for exports to Senegal ($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 Zimbabwe (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into South Africa

In 2022, the amount of base metal hooks, eyes and eyelets imported into South Africa surged to X tons, with an increase of 39% compared with 2021 figures. Over the period under review, imports posted resilient growth. The pace of growth appeared the most rapid in 2021 when imports increased by 59%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, base metal hook imports surged to $X in 2022. The total import value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of base metal hook to South Africa, accounting for a 90% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold. The third position in this ranking was taken by Italy (X tons), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.3% per year) and Italy (-0.2% per year).

In value terms, China ($X) constituted the largest supplier of base metal hooks, eyes and eyelets to South Africa, comprising 66% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 14% share of total imports. It was followed by Italy, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+0.1% per year) and Italy (-1.5% per year).

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2022, falling by -8.8% against the previous year. Over the period under review, the import price showed a abrupt curtailment. The pace of growth was the most pronounced in 2020 when the average import price increased by 9.5% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, 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 Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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