Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Africa - 2023

Contents:

1. Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Africa (CIF) - 2023
2. Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Africa (FOB) - 2022
3. Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Africa
4. Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Africa

Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Africa (CIF) - 2023

In December 2023, the average import price for stainless steel bars and rods, angles, shapes and sectionses amounted to $2,148 per ton, with a decrease of -16.9% against the previous month. Overall, the import price saw a abrupt downturn. The pace of growth was the most pronounced in September 2023 when the average import price increased by 17% month-to-month. Over the period under review, average import prices hit record highs at $4,181 per ton in March 2023; however, from April 2023 to December 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($4,544 per ton), while the price for China ($825 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Italy (-0.7%), while the prices for the other major suppliers experienced a decline.

Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Africa (FOB) - 2022

The average export price for stainless steel bars and rods, angles, shapes and sectionses stood at $1,578 per ton in 2022, increasing by 25% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for stainless steel bars and rods, angles, shapes and sectionses increased by +54.5% against 2020 indices. Over the period under review, the average export prices attained the peak figure at $2,113 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($7,301 per ton), while the average price for exports to Democratic Republic of the Congo ($740 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 the United States (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Africa

In 2022, imports of stainless steel bars and rods, angles, shapes and sectionses into South Africa dropped dramatically to 8K tons, waning by -15.3% against the previous year. In general, imports continue to indicate a mild curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 52% against the previous year. As a result, imports reached the peak of 9.5K tons, and then shrank notably in the following year.

In value terms, imports of stainless steel bars and rods, angles, shapes and sectionses rose remarkably to $34M in 2022. Overall, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 96% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Stainless Steel Bars and Rods, Angles, Shapes and Sections to South Africa in 2022:

1. India (4.0K tons)
2. China (2.1K tons)
3. Italy (1.2K tons)
4. Taiwan (Chinese) (0.2K tons)
5. Germany (0.1K tons)

Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in South Africa

Exports of stainless steel bars and rods, angles, shapes and sectionses from South Africa surged to 7K tons in 2022, jumping by 21% compared with the previous year. The total export volume increased at an average annual rate of +9.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of stainless steel bars and rods, angles, shapes and sectionses surged to $11M in 2022. Overall, exports continue to indicate a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Stainless Steel Bars and Rods, Angles, Shapes and Sections from South Africa in 2022:

1. Namibia (3135.5 tons)
2. Democratic Republic of the Congo (1906.7 tons)
3. Swaziland (519.8 tons)
4. Botswana (320.1 tons)
5. United States (315.5 tons)
6. Malawi (247.0 tons)
7. Zimbabwe (137.9 tons)
8. Mozambique (132.4 tons)
9. Lesotho (65.3 tons)

Source: IndexBox Market Intelligence Platform