Western Africa: Market for Hot-Rolled Steel Bars and Rods 2025

Exports of Hot-Rolled Steel Bars and Rods

Exports in Western Africa

After two years of decline, shipments abroad of hot-rolled steel bars and rods increased by 20% to X tons in 2021. Total exports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by 32% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, hot-rolled steel bar and rod exports surged to $X in 2021. Total exports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Senegal (X tons) and Benin (X tons) were the key exporters of hot-rolled steel bars and rods in Western Africa, together resulting at near 56% of total exports. Ghana (X tons) took the next position in the ranking, followed by Burkina Faso (X tons) and Nigeria (X tons). All these countries together held approx. 35% share of total exports. The following exporters - Mali (X tons) and Cote d'Ivoire (X tons) - each finished at a 7.5% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Mali (with a CAGR of +21.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel bar and rod supplying countries in Western Africa were Senegal ($X), Benin ($X) and Ghana ($X), together comprising 74% of total exports.

Among the main exporting countries, Senegal, with a CAGR of +18.4%, recorded the highest growth rate of 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 export price in Western Africa amounted to $X per ton, jumping by 18% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+2.1%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports in Western Africa

In 2021, purchases abroad of hot-rolled steel bars and rods increased by 2.5% to X tons, rising for the fourth consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 9.7%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, hot-rolled steel bar and rod imports surged to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Senegal (X tons), distantly followed by Ghana (X tons), Cote d'Ivoire (X tons), Burkina Faso (X tons), Benin (X tons), Togo (X tons) and Guinea (X tons) represented the largest importers of hot-rolled steel bars and rods, together creating 85% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Togo (with a CAGR of +9.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 57% of total imports. These countries were followed by Burkina Faso, Togo, Benin and Guinea, which together accounted for a further 28%.

Among the main importing countries, Togo, with a CAGR of +10.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, with an increase of 25% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Togo ($X per ton) and Guinea ($X per ton), while Cote d'Ivoire ($X per ton) and Burkina Faso ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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