Price for Iron and Non-Alloy Steel in Ingot in South Africa - 2023
Contents:
- Price for Iron and Non-Alloy Steel in Ingot in South Africa (CIF) - 2022
- Price for Iron and Non-Alloy Steel in Ingot in South Africa (FOB) - 2022
- Imports of Iron and Non-Alloy Steel in Ingot in South Africa
- Exports of Iron and Non-Alloy Steel in Ingot in South Africa
Price for Iron and Non-Alloy Steel in Ingot in South Africa (CIF) - 2022
In 2022, the average import price for iron and non-alloy steel in ingots amounted to $2,646 per ton, increasing by 151% against the previous year. In general, the import price saw a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($10,402 per ton), while the price for Botswana ($1,061 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+37.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron and Non-Alloy Steel in Ingot in South Africa (FOB) - 2022
In 2022, the average export price for iron and non-alloy steel in ingots amounted to $3,544 per ton, approximately mirroring the previous year. Over the period under review, the export price recorded a prominent increase. The pace of growth was the most pronounced in 2020 an increase of 212% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Namibia ($5,015 per ton), while the average price for exports to Botswana ($829 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 Saint Helena, Ascension and Tristan da Cunha (+42.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron and Non-Alloy Steel in Ingot in South Africa
In 2022, purchases abroad of iron and non-alloy steel in ingots decreased by -2.2% to 324 tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +11.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 27% against the previous year. As a result, imports reached the peak of 331 tons, and then declined modestly in the following year.
In value terms, imports of iron and non-alloy steel in ingots skyrocketed to $857K in 2022. Overall, imports, however, continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Iron and Non-Alloy Steel in Ingot in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 23.1 | 13.6 | 0.5 | 482 | 175.3% |
| Germany | 42.6 | 7.6 | 11.3 | 334 | 98.7% |
| Botswana | N/A | N/A | 2.2 | 22.3 | 913.6% |
| China | 5.9 | 1.7 | 8.4 | 8.7 | 13.8% |
| Italy | 204 | 284 | 308 | N/A | 22.9% |
| Others | 12.8 | 0.9 | 19.4 | 10.6 | -6.1% |
| Total | 289 | 308 | 350 | 857 | 43.7% |
Top Suppliers of Iron and Non-Alloy Steel in Ingot to South Africa in 2022:
- Germany (147.7 tons)
- United States (46.3 tons)
- Botswana (21.0 tons)
- China (3.6 tons)
Exports of Iron and Non-Alloy Steel in Ingot in South Africa
In 2022, the amount of iron and non-alloy steel in ingots exported from South Africa reduced rapidly to 227 tons, waning by -16.4% on 2021. Overall, exports showed a dramatic decline. The pace of growth was the most pronounced in 2021 with an increase of 8.4%.
In value terms, exports of iron and non-alloy steel in ingots declined dramatically to $806K in 2022. Over the period under review, exports recorded a dramatic decrease. The pace of growth was the most pronounced in 2021 when exports increased by 82% against the previous year.
| Export of Iron and Non-Alloy Steel in Ingot in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Zambia | 242 | 55.3 | 182 | 203 | -5.7% |
| Germany | 506 | 12.3 | 108 | 120 | -38.1% |
| United States | 0.6 | N/A | N/A | 117 | 479.9% |
| Mozambique | 93.8 | 37.2 | 153 | 56.7 | -15.4% |
| Netherlands | N/A | 11.1 | 14.6 | 50.1 | 112.5% |
| Madagascar | N/A | N/A | 4.6 | 46.9 | 919.6% |
| Botswana | 92.3 | 8.8 | 196 | 25.4 | -35.0% |
| Kenya | 514 | 48.2 | N/A | 14.8 | -69.3% |
| Saint Helena, Ascension and Tristan da Cunha | N/A | N/A | 0.8 | 12.8 | 1500.0% |
| Namibia | 268 | 1.5 | 6.1 | 9.4 | -67.3% |
| Zimbabwe | 55.9 | 0.2 | 2.4 | 4.4 | -57.1% |
| Lesotho | 334 | 15.7 | 33.9 | 4.3 | -76.6% |
| Others | 414 | 335 | 254 | 141 | -30.2% |
| Total | 2,520 | 525 | 956 | 806 | -31.6% |
Top Export Markets for Iron and Non-Alloy Steel in Ingot from South Africa in 2022:
- United States (64.9 tons)
- Germany (40.0 tons)
- Botswana (30.6 tons)
- Madagascar (22.3 tons)
- Mozambique (19.6 tons)
- Netherlands (16.9 tons)
- Saint Helena, Ascension and Tristan da Cunha (10.0 tons)
- Zambia (9.2 tons)
- Zimbabwe (2.3 tons)
- Namibia (1.9 tons)
- Kenya (1.8 tons)
- Lesotho (1.4 tons)
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