South Africa: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in South Africa

In 2021, the South African hot-rolled steel products market decreased by -5.2% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +46.5% against 2018 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Hot-Rolled Steel Products Production in South Africa

In value terms, hot-rolled steel products production reduced 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 was the most pronounced in 2017 with an increase of 38%. Hot-rolled steel products production peaked at $X in 2020, and then fell in the following year.

Hot-Rolled Steel Products Exports

Exports from South Africa

After two years of decline, shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 1.9% to X tons in 2021. In general, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 28%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel products exports soared to $X in 2021. Overall, exports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 26% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Zambia (X tons), Botswana (X tons) and Zimbabwe (X tons) were the main destinations of hot-rolled steel products exports from South Africa, together comprising 45% of total exports. Pakistan, Mozambique, Tanzania, the United States, the Netherlands, Italy, Malaysia, the UK, Poland and the United Arab Emirates lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +62.2%), while the other leaders experienced more modest paces of growth.

In value terms, Zambia ($X), Botswana ($X) and Zimbabwe ($X) constituted the largest markets for hot-rolled steel products exported from South Africa worldwide, together accounting for 31% of total exports. These countries were followed by the Netherlands, Poland, Italy, the United States, Mozambique, Malaysia, the UK, the United Arab Emirates, Tanzania and Pakistan, which together accounted for a further 35%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +72.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average hot-rolled steel products export price amounted to $X per ton, with an increase of 23% against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. 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 +70.1% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 40%. The export price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Pakistan ($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 the United Arab Emirates (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into South Africa

In 2021, overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 35% to X tons, rising for the third year in a row after three years of decline. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 80%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled steel products imports soared to $X in 2021. In general, imports recorded temperate growth. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of hot-rolled steel products to South Africa, accounting for a 40% share of total imports. Moreover, hot-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. India (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+91.7% per year) and India (+10.4% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than hot-rolled) to South Africa, comprising 35% of total imports. The second position in the ranking was held by Turkey ($X), with a 15% share of total imports. It was followed by Sweden, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+90.2% per year) and Sweden (-5.3% per year).

Import Prices by Country

The average hot-rolled steel products import price stood at $X per ton in 2021, with an increase of 32% against the previous year. Over the period under review, the import price, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2017 an increase of 46% 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 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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