South Africa - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingIron and Steel Price in South Africa - 2023
Contents:
- Iron and Steel Price in South Africa (FOB) - 2022
- Iron and Steel Price in South Africa (CIF) - 2022
- Iron and Steel Exports in South Africa
- Iron and Steel Imports in South Africa
Iron and Steel Price in South Africa (FOB) - 2022
The average iron and steel export price stood at $399 per ton in 2022, which is down by -8.2% against the previous year. Overall, the export price showed a perceptible shrinkage. The growth pace was the most rapid in 2021 an increase of 23% against the previous year. Over the period under review, the average export prices attained the peak figure at $498 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($501 per ton), while the average price for exports to India ($259 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 Italy (-0.8%), while the prices for the other major destinations experienced a decline.
Iron and Steel Price in South Africa (CIF) - 2022
The average iron and steel import price stood at $1,355 per ton in 2022, reducing by -13.1% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron and steel import price increased by +20.8% against 2020 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by 40%. Over the period under review, average import prices hit record highs at $1,559 per ton in 2021, and then fell in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($1,510 per ton), while the price for Italy ($1,029 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+42.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Iron and Steel Exports in South Africa
In 2022, exports of iron and steel from South Africa contracted to 428K tons, dropping by -10.5% compared with the previous year. Overall, exports recorded a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. Over the period under review, the exports reached the peak figure at 533K tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, iron and steel exports dropped dramatically to $171M in 2022. Over the period under review, exports recorded a abrupt contraction. The growth pace was the most rapid in 2021 when exports increased by 56% against the previous year. Over the period under review, the exports hit record highs at $221M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Iron and Steel in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 35.4 | 27.6 | 48.0 | 41.2 | 5.2% |
| United States | 41.3 | 40.8 | 46.7 | 40.1 | -1.0% |
| Netherlands | 36.6 | 16.9 | 29.3 | 25.2 | -11.7% |
| India | 9.3 | 4.5 | 13.3 | 11.4 | 7.0% |
| Spain | 6.9 | 5.4 | 12.4 | 10.6 | 15.4% |
| Turkey | 13.3 | 8.1 | 7.4 | 7.2 | -18.5% |
| Japan | 12.0 | 2.8 | 8.1 | 7.0 | -16.4% |
| Taiwan (Chinese) | 9.3 | 4.1 | 7.1 | 6.1 | -13.1% |
| South Korea | 10.8 | 6.0 | 5.8 | 5.7 | -19.2% |
| China | 2.2 | 9.4 | 4.5 | 4.3 | 25.0% |
| Slovenia | 3.8 | 1.7 | 4.6 | 3.9 | 0.9% |
| Australia | 6.4 | 2.1 | 4.1 | 3.5 | -18.2% |
| Oman | 17.5 | N/A | 11.1 | N/A | -20.4% |
| Others | 16.3 | 4.0 | 5.5 | 4.6 | -34.4% |
| Total | 221 | 134 | 208 | 171 | -8.2% |
Top Export Markets for Iron and Steel from South Africa in 2022:
- United States (93.5K tons)
- Italy (88.6K tons)
- Netherlands (63.8K tons)
- India (43.9K tons)
- Spain (30.6K tons)
- Turkey (20.8K tons)
- South Korea (18.7K tons)
- Japan (16.5K tons)
- China (12.6K tons)
- Taiwan (Chinese) (12.5K tons)
- Australia (8.7K tons)
- Slovenia (7.8K tons)
Iron and Steel Imports in South Africa
Iron and steel imports into South Africa dropped to 1.7K tons in 2022, waning by -6.3% compared with 2021 figures. Overall, imports recorded a perceptible decrease. The pace of growth was the most pronounced in 2021 when imports increased by 14% against the previous year. Over the period under review, imports attained the maximum at 2K tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, iron and steel imports declined remarkably to $2.3M in 2022. Over the period under review, imports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 59%. As a result, imports attained the peak of $2.8M, and then fell remarkably in the following year.
| Import of Iron and Steel in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 107 | 877 | 1,739 | 1,245 | 126.6% |
| Singapore | 1,927 | 605 | 643 | 747 | -27.1% |
| Italy | 204 | 284 | 308 | 298 | 13.5% |
| Others | 314 | 25.9 | 160 | 30.5 | -54.0% |
| Total | 2,552 | 1,791 | 2,850 | 2,320 | -3.1% |
Top Suppliers of Iron and Steel to South Africa in 2022:
- Malaysia (824.4 tons)
- Singapore (591.3 tons)
- Italy (289.6 tons)
This report provides an in-depth analysis of the iron and steel market in South Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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