Tanzania: Market for Hot-Rolled Bars Of High Speed Steel 2024

Market Size for Hot-Rolled Bars Of High Speed Steel in Tanzania

The Tanzanian market for hot-rolled bars of high speed steel contracted modestly to $X in 2022, approximately equating the previous year. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.8% against 2020 indices. Hot-rolled high speed steel bar consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Hot-Rolled Bars Of High Speed Steel in Tanzania

In value terms, hot-rolled high speed steel bar production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 47%. Hot-rolled high speed steel bar production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from Tanzania

In 2022, shipments abroad of hot-rolled bars of high speed steel increased by 1,501% to X tons, rising for the third consecutive year after three years of decline. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2014 with an increase of 2,453% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, hot-rolled high speed steel bar exports surged to $X in 2022. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 8,205%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Japan (X tons) and Democratic Republic of the Congo (X tons) were the main destinations of hot-rolled high speed steel bar exports from Tanzania.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Democratic Republic of the Congo (with a CAGR of +66.2%).

In value terms, Democratic Republic of the Congo ($X) remains the key foreign market for hot-rolled bars of high speed steel exports from Tanzania, comprising 71% of total exports. The second position in the ranking was held by Japan ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Democratic Republic of the Congo stood at +76.2%.

Export Prices by Country

In 2022, the average export price for hot-rolled bars of high speed steel amounted to $X per ton, reducing by -10.8% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 225% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external 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 Japan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+6.0%).

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Tanzania

In 2022, after two years of decline, there was significant growth in overseas purchases of hot-rolled bars of high speed steel, when their volume increased by 639% to X tons. Over the period under review, imports showed a resilient expansion. The pace of growth was the most pronounced in 2016 when imports increased by 685% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar imports skyrocketed to $X in 2022. In general, imports, however, recorded a deep setback. The pace of growth was the most pronounced in 2016 with an increase of 537%. 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 high speed steel bar supplier to Tanzania, accounting for a 80% share of total imports. Moreover, hot-rolled high speed steel bar imports from China exceeded the figures recorded by the second-largest supplier, India (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +28.9%.

In value terms, the largest hot-rolled high speed steel bar suppliers to Tanzania were China ($X) and India ($X).

Among the main suppliers, China, with a CAGR of +13.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The average import price for hot-rolled bars of high speed steel stood at $X per ton in 2022, shrinking by -29.2% against the previous year. Over the period under review, the import price faced a deep setback. The pace of growth appeared the most rapid in 2019 when the average import price increased by 64%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 India ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform