Price for Stainless Steel in Ingots or Other Primary Forms in South Africa - 2023
Contents:
- Price for Stainless Steel in Ingots or Other Primary Forms in South Africa (CIF) - 2022
- Price for Stainless Steel in Ingots or Other Primary Forms in South Africa (FOB) - 2022
- Imports of Stainless Steel in Ingots or Other Primary Forms in South Africa
- Exports of Stainless Steel in Ingots or Other Primary Forms in South Africa
Price for Stainless Steel in Ingots or Other Primary Forms in South Africa (CIF) - 2022
In 2022, the average import price for stainless steel in ingots or other primary forms amounted to $2,737 per ton, shrinking by -66.9% against the previous year. In general, the import price showed a abrupt contraction. The growth pace was the most rapid in 2016 when the average import price increased by 471% against the previous year. As a result, import price reached the peak level of $41,640 per ton. From 2017 to 2022, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Indonesia.
From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to -69.5% per year.
Price for Stainless Steel in Ingots or Other Primary Forms in South Africa (FOB) - 2022
The average export price for stainless steel in ingots or other primary forms stood at $21,767 per ton in 2022, picking up by 363% against the previous year. Overall, the export price continues to indicate a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Namibia ($11,602 per ton), while the average price for exports to Swaziland ($2,563 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 Japan (+79.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Stainless Steel in Ingots or Other Primary Forms in South Africa
For the fourth year in a row, South Africa recorded growth in supplies from abroad of stainless steel in ingots or other primary forms, which increased by 143% to 12K tons in 2022. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 37,139% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of stainless steel in ingots or other primary forms declined dramatically to $33M in 2022. In general, imports saw significant growth. The growth pace was the most rapid in 2021 when imports increased by 25,054%. As a result, imports reached the peak of $41M, and then declined dramatically in the following year.
| Import of Stainless Steel in Ingots or Other Primary Forms in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | N/A | N/A | 26.2 | 33.1 | 26.3% |
| Others | 0.1 | 0.2 | 15.2 | 0.2 | 26.0% |
| Total | 0.1 | 0.2 | 41.4 | 33.2 | 592.4% |
Top Suppliers of Stainless Steel in Ingots or Other Primary Forms to South Africa in 2022:
- Indonesia (12.1K tons)
Exports of Stainless Steel in Ingots or Other Primary Forms in South Africa
For the third year in a row, South Africa recorded decline in shipments abroad of stainless steel in ingots or other primary forms, which decreased by -47.3% to 80 tons in 2022. Over the period under review, exports continue to indicate a precipitous contraction. The smallest decline of -32.4% was in 2021.
In value terms, exports of stainless steel in ingots or other primary forms surged to $1.7M in 2022. In general, exports, however, posted a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Stainless Steel in Ingots or Other Primary Forms in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Democratic Republic of the Congo | 7.5 | 62.2 | 0.1 | 1,525 | 488.0% |
| Namibia | 140 | 157 | 111 | 83.7 | -15.8% |
| United Arab Emirates | 10.8 | N/A | 84.3 | 25.6 | 33.3% |
| Lesotho | 65.8 | 2.9 | 48.9 | 21.7 | -30.9% |
| Swaziland | 67.7 | 38.1 | 2.6 | 14.5 | -40.2% |
| Russia | N/A | 151 | N/A | N/A | 0% |
| South Korea | 958 | 142 | 234 | N/A | -50.6% |
| Others | 133 | 57.3 | 232 | 68.6 | -19.8% |
| Total | 1,383 | 610 | 713 | 1,739 | 7.9% |
Top Export Markets for Stainless Steel in Ingots or Other Primary Forms from South Africa in 2022:
- Democratic Republic of the Congo (243.8 tons)
- Lesotho (8.0 tons)
- Namibia (7.2 tons)
- Swaziland (5.7 tons)
- United Arab Emirates (4.4 tons)
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