South Africa: Market for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) 2022

Market Size for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in South Africa

After three years of growth, the South African iron and steel wire market decreased by -X% to $X in 2020. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 when the market value increased by X% y-o-y. Iron and steel wire consumption peaked at $X in 2019, and then reduced in the following year.

Production of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in South Africa

In value terms, iron and steel wire production declined rapidly to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 with an increase of X% y-o-y. Over the period under review, production attained the maximum level at $X in 2019, and then declined markedly in the following year.

Exports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Exports from South Africa

In 2020, shipments abroad of wire of iron or non-alloy steel (stainless steel or other alloy steel) decreased by -X% to X tons for the first time since 2017, thus ending a two-year rising trend. In general, exports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2019 when exports increased by X% y-o-y. Over the period under review, exports attained the maximum at X tons in 2007; however, from 2008 to 2020, exports remained at a lower figure.

In value terms, iron and steel wire exports declined markedly to $X in 2020. Overall, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Exports peaked at $X in 2008; however, from 2009 to 2020, exports failed to regain the momentum.

Exports by Country

Zimbabwe (X tons), Botswana (X tons) and the UK (X tons) were the main destinations of iron and steel wire exports from South Africa, with a combined X% share of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Botswana (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel wire exported from South Africa were Zimbabwe ($X), Botswana ($X) and the UK ($X), together comprising X% of total exports.

Botswana recorded the highest rates of growth with regard to the value of exports, among 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

In 2020, the average iron and steel wire export price amounted to $X per ton, dropping by -X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per ton), while the average price for exports to Malawi ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S., while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Imports into South Africa

In 2020, after two years of growth, there was significant decline in purchases abroad of wire of iron or non-alloy steel (stainless steel or other alloy steel), when their volume decreased by -X% to X tons. Over the period under review, imports recorded a slight reduction. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. Imports peaked at X tons in 2012; however, from 2013 to 2020, imports failed to regain the momentum.

In value terms, iron and steel wire imports contracted notably to $X in 2020. In general, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2011; however, from 2012 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, China (X tons) constituted the largest supplier of iron and steel wire to South Africa, accounting for a X% share of total imports. Moreover, iron and steel wire imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+X% per year) and Italy (-X% per year).

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

From 2007 to 2020, 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 (-X% per year) and India (-X% per year).

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2020, with a decrease of -X% against the previous year. Overall, the import price continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2008 when the average import price increased by X% y-o-y. As a result, import price reached the peak level of $X per ton. from 2009 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by France, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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