Aluminium Wire Price in South Africa - 2023
Contents:
- Aluminium Wire Price in South Africa (CIF) - 2023
- Aluminium Wire Price in South Africa (FOB) - 2022
- Aluminium Wire Imports in South Africa
- Aluminium Wire Exports in South Africa
Aluminium Wire Price in South Africa (CIF) - 2023
In July 2023, the average aluminium wire import price amounted to $2,934 per ton, which is down by -3% against the previous month. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in November 2022 when the average import price increased by 13% m-o-m. The import price peaked at $3,289 per ton in January 2023; however, from February 2023 to July 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Spain ($5,324 per ton), while the price for the United Arab Emirates ($2,715 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Oman (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Aluminium Wire Price in South Africa (FOB) - 2022
The average aluminium wire export price stood at $4,730 per ton in 2022, rising by 58% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium wire export price increased by +78.9% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Zambia ($4,815 per ton), while the average price for exports to Botswana ($1,487 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 Zambia (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.
Aluminium Wire Imports in South Africa
In 2022, approx. 20K tons of aluminium wires were imported into South Africa; leveling off at 2021 figures. Over the period under review, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 0.5% against the previous year.
In value terms, aluminium wire imports skyrocketed to $69M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +13.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.3% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 29%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Aluminium Wire in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mozambique | 21.3 | 10.1 | 13.9 | 18.2 | -5.1% |
| United Arab Emirates | 5.2 | 7.4 | 8.0 | 15.5 | 43.9% |
| Malaysia | 6.0 | 14.2 | 12.4 | 11.3 | 23.5% |
| Oman | 3.8 | 1.3 | 8.9 | 6.5 | 19.6% |
| India | 3.2 | 2.7 | 1.1 | 6.2 | 24.7% |
| Germany | 2.7 | 1.2 | 2.8 | 3.5 | 9.0% |
| China | 1.9 | 1.8 | 3.5 | 3.1 | 17.7% |
| Others | 3.5 | 3.7 | 4.2 | 4.4 | 7.9% |
| Total | 47.5 | 42.3 | 54.8 | 68.6 | 13.0% |
Top Suppliers of Aluminium Wire to South Africa in 2022:
- Mozambique (5.2K tons)
- United Arab Emirates (4.9K tons)
- Malaysia (3.7K tons)
- Oman (2.0K tons)
- India (1.9K tons)
- China (1.0K tons)
- Germany (0.8K tons)
Aluminium Wire Exports in South Africa
Aluminium wire exports from South Africa rose to 1K tons in 2022, with an increase of 1.8% compared with 2021 figures. The total export volume increased at an average annual rate of +5.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 19%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, aluminium wire exports skyrocketed to $4.9M in 2022. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Aluminium Wire in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Zambia | 0.5 | 1.7 | 1.8 | 4.2 | 103.3% |
| Zimbabwe | 1.6 | 0.3 | 0.9 | 0.5 | -32.1% |
| Italy | N/A | N/A | N/A | 0.1 | 0% |
| Others | 0.3 | 0.3 | 0.4 | 0.2 | -12.6% |
| Total | 2.4 | 2.3 | 3.1 | 4.9 | 26.9% |
Top Export Markets for Aluminium Wire from South Africa in 2022:
- Zambia (874.9 tons)
- Zimbabwe (113.9 tons)
- Italy (23.9 tons)
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