South Africa: Market for Hot-Rolled Bars In Bearing Steels 2025

Market Size for Hot-Rolled Bars In Bearing Steels in South Africa

The South African hot-rolled bearing steel bar market dropped remarkably to $X in 2022, declining by -29.1% 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). Over the period under review, consumption continues to indicate a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from South Africa

In 2022, overseas shipments of hot-rolled bars in bearing steels increased by 7.9% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports showed prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by 119% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled bearing steel bar exports soared to $X in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 88% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Zimbabwe (X tons) was the main destination for hot-rolled bearing steel bar exports from South Africa, accounting for a 41% share of total exports. Moreover, hot-rolled bearing steel bar exports to Zimbabwe exceeded the volume sent to the second major destination, Namibia (X tons), twofold. The third position in this ranking was taken by Zambia (X tons), with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Zimbabwe totaled +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (+152.7% per year) and Zambia (+9.0% per year).

In value terms, Zimbabwe ($X) remains the key foreign market for hot-rolled bars in bearing steels exports from South Africa, comprising 57% of total exports. The second position in the ranking was taken by Zambia ($X), with a 19% share of total exports. It was followed by Namibia, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Zimbabwe amounted to +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (+6.8% per year) and Namibia (+98.2% per year).

Export Prices by Country

The average hot-rolled bearing steel bar export price stood at $X per ton in 2022, increasing by 12% against the previous year. Over the period under review, the export price, however, showed a slight descent. The most prominent rate of growth was recorded in 2020 an increase of 75%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Lesotho ($X per ton), while the average price for exports to Namibia ($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 Lesotho (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into South Africa

In 2022, purchases abroad of hot-rolled bars in bearing steels decreased by -37.7% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports continue to indicate a pronounced contraction. The growth pace was the most rapid in 2018 with an increase of 56%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, hot-rolled bearing steel bar imports declined to $X in 2022. Overall, imports continue to indicate a slight decrease. The pace of growth appeared the most rapid in 2018 with an increase of 68% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest hot-rolled bearing steel bar supplier to South Africa, accounting for a 74% share of total imports. Moreover, hot-rolled bearing steel bar imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. Slovenia (X tons) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.1% per year) and Slovenia (+20.8% per year).

In value terms, China ($X) constituted the largest supplier of hot-rolled bars in bearing steels to South Africa, comprising 67% of total imports. The second position in the ranking was held by Italy ($X), with a 17% share of total imports. It was followed by Slovenia, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.0% per year) and Slovenia (+22.3% per year).

Import Prices by Country

In 2022, the average hot-rolled bearing steel bar import price amounted to $X per ton, with an increase of 43% against the previous year. Overall, the import price enjoyed moderate growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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