Price for Hot-Rolled Wire Rod in Coils in Ghana - 2022
Contents:
- Price for Hot-Rolled Wire Rod in Coils in Ghana (CIF) - 2022
- Price for Hot-Rolled Wire Rod in Coils in Ghana (FOB) - 2022
- Imports of Hot-Rolled Wire Rod in Coils in Ghana
- Exports of Hot-Rolled Wire Rod in Coils in Ghana
Price for Hot-Rolled Wire Rod in Coils in Ghana (CIF) - 2022
The average import price for hot-rolled wire rods in coils stood at $728 per ton in 2022, picking up by 3% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled wire rod in coils import price increased by +73.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 44%. The import price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($819 per ton), while the price for Belarus ($413 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Hot-Rolled Wire Rod in Coils in Ghana (FOB) - 2022
In 2022, the average export price for hot-rolled wire rods in coils amounted to $611 per ton, growing by 6.5% against the previous year. Overall, the export price, however, showed a mild slump. The pace of growth appeared the most rapid in 2019 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices attained the maximum at $795 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.
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 Mali ($964 per ton), while the average price for exports to Benin ($448 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 Niger (+7.3%), while the prices for the other major destinations experienced a decline.
Imports of Hot-Rolled Wire Rod in Coils in Ghana
In 2022, imports of hot-rolled wire rods in coils into Ghana totaled 182K tons, growing by 11% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern.
In value terms, hot-rolled wire rod in coils imports reached $132M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +19.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 24% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.
| Import of Hot-Rolled Wire Rod in Coils in Ghana (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | N/A | 14.2 | 18.4 | 32.2 | 50.6% |
| China | 15.8 | 6.5 | 5.3 | 27.5 | 20.3% |
| Russia | 6.3 | 12.5 | 20.7 | 20.9 | 49.1% |
| South Africa | 8.1 | 0.3 | 2.2 | 18.3 | 31.2% |
| Ukraine | 39.0 | 30.6 | 37.9 | 15.5 | -26.5% |
| Turkey | 4.0 | 14.6 | 5.5 | 9.8 | 34.8% |
| Belarus | 2.5 | 5.5 | 5.9 | 6.1 | 34.6% |
| Iran | N/A | 4.5 | 17.6 | N/A | 291.1% |
| Others | 2.0 | 7.2 | 1.8 | 1.9 | -1.7% |
| Total | 77.6 | 95.9 | 115 | 132 | 19.4% |
Top Suppliers of Hot-Rolled Wire Rod in Coils to Ghana in 2022:
- Malaysia (39.4K tons)
- China (35.2K tons)
- Russia (30.1K tons)
- South Africa (22.4K tons)
- Ukraine (20.4K tons)
- Turkey (15.9K tons)
- Belarus (14.7K tons)
Exports of Hot-Rolled Wire Rod in Coils in Ghana
In 2022, overseas shipments of hot-rolled wire rods in coils decreased by -35.9% to 3.7K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2021 with an increase of 235% against the previous year. As a result, the exports reached the peak of 5.8K tons, and then shrank notably in the following year.
In value terms, hot-rolled wire rod in coils exports contracted sharply to $2.3M in 2022. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 260% against the previous year. As a result, the exports attained the peak of $3.3M, and then declined remarkably in the following year.
| Export of Hot-Rolled Wire Rod in Coils in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Burkina Faso | 304 | 332 | 1,362 | 693 | 31.6% |
| Senegal | N/A | N/A | N/A | 689 | 0% |
| Niger | 138 | 151 | 647 | 268 | 24.8% |
| Benin | 194 | 185 | 504 | 192 | -0.3% |
| Togo | 162 | 163 | 468 | 189 | 5.3% |
| Cote d'Ivoire | 14.0 | 23.8 | 120 | 140 | 115.4% |
| Mali | 65.0 | 73.7 | 240 | 110 | 19.2% |
| Others | 0.8 | N/A | N/A | N/A | 0% |
| Total | 877 | 928 | 3,341 | 2,280 | 37.5% |
Top Export Markets for Hot-Rolled Wire Rod in Coils from Ghana in 2022:
- Senegal (1388.7 tons)
- Burkina Faso (909.8 tons)
- Benin (429.4 tons)
- Togo (383.4 tons)
- Niger (303.5 tons)
- Cote d'Ivoire (204.1 tons)
- Mali (113.8 tons)
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