South Africa: Market for Iron or Steel Wire Products 2025

Market Size for Iron or Steel Wire Products in South Africa

The South African market for iron or steel wire products fell to $X in 2022, dropping by X% against the previous year. Overall, consumption showed a noticeable downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Wire Products in South Africa

In value terms, iron or steel wire product production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible setback. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Iron or Steel Wire Products

Exports from South Africa

In 2022, the amount of iron or steel wire products exported from South Africa was estimated at X tons, almost unchanged from 2021 figures. In general, total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron or steel wire product exports reached $X in 2022. Overall, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Tanzania (X tons), Italy (X tons) and Mozambique (X tons) were the main destinations of iron or steel wire product exports from South Africa, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Tanzania ($X) emerged as the key foreign market for iron or steel wire products exports from South Africa, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with a X% share of total exports. It was followed by Oman, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Tanzania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Oman (X% per year).

Export Prices by Country

The average export price for iron or steel wire products stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

Imports of Iron or Steel Wire Products

Imports into South Africa

In 2022, overseas purchases of iron or steel wire products decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, iron or steel wire product imports totaled $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel wire product to South Africa, accounting for a X% share of total imports. Moreover, iron or steel wire product imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sixfold. The third position in this ranking was taken by the Netherlands (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and the Netherlands (X% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wire products to South Africa, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2022, the average import price for iron or steel wire products amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, showed a perceptible decline. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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