Price for Wire of Other Alloy Steel in South Africa - 2023
Contents:
- Price for Wire of Other Alloy Steel in South Africa (CIF) - 2023
- Price for Wire of Other Alloy Steel in South Africa (FOB) - 2022
- Imports of Wire of Other Alloy Steel in South Africa
- Exports of Wire of Other Alloy Steel in South Africa
Price for Wire of Other Alloy Steel in South Africa (CIF) - 2023
In July 2023, the average import price for wire of other alloy steels amounted to $1,177 per ton, jumping by 26% against the previous month. In general, the import price, however, showed a pronounced reduction. Over the period under review, average import prices hit record highs at $1,437 per ton in December 2022; however, from January 2023 to July 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was South Korea ($4,176 per ton), while the price for China ($1,029 per ton) was amongst the lowest.
From December 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Wire of Other Alloy Steel in South Africa (FOB) - 2022
The average export price for wire of other alloy steels stood at $1,630 per ton in 2022, rising by 18% against the previous year. Overall, the export price, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2018 an increase of 29%. Over the period under review, the average export prices reached the maximum at $1,929 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($6,681 per ton), while the average price for exports to Botswana ($1,221 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 mixed trend patterns.
Imports of Wire of Other Alloy Steel in South Africa
In 2022, imports of wire of other alloy steels into South Africa fell rapidly to 15K tons, which is down by -25.3% against 2021 figures. Overall, imports showed a slight contraction. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. As a result, imports attained the peak of 20K tons, and then reduced rapidly in the following year.
In value terms, wire of other alloy steel imports shrank dramatically to $21M in 2022. Over the period under review, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 108%. As a result, imports attained the peak of $25M, and then contracted significantly in the following year.
| Import of Wire of Other Alloy Steel in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 13.0 | 9.4 | 18.9 | 15.4 | 5.8% |
| South Korea | N/A | 0.1 | 0.3 | 1.8 | 324.3% |
| Czech Republic | 1.5 | 0.5 | 2.1 | 0.8 | -18.9% |
| Italy | 0.5 | 0.3 | 0.6 | 0.7 | 11.9% |
| Vietnam | 0.4 | 0.3 | 0.7 | 0.7 | 20.5% |
| Others | 1.4 | 1.3 | 2.1 | 1.6 | 4.6% |
| Total | 16.9 | 11.9 | 24.8 | 20.8 | 7.2% |
Top Suppliers of Wire of Other Alloy Steel to South Africa in 2022:
- China (13.0K tons)
- South Korea (0.8K tons)
- Vietnam (0.4K tons)
- Czech Republic (0.3K tons)
- Italy (0.2K tons)
Exports of Wire of Other Alloy Steel in South Africa
Wire of other alloy steel exports from South Africa declined slightly to 1.2K tons in 2022, stabilizing at the previous year's figure. The total export volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 23%. As a result, the exports reached the peak of 1.2K tons, leveling off in the following year.
In value terms, wire of other alloy steel exports soared to $2M in 2022. Over the period under review, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +7.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 40%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.
| Export of Wire of Other Alloy Steel in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Namibia | 636 | 444 | 243 | 420 | -12.9% |
| Zimbabwe | 81.7 | 124 | 940 | 333 | 59.7% |
| Swaziland | 235 | 79.3 | 120 | 333 | 12.3% |
| Zambia | 130 | 92.0 | 84.0 | 296 | 31.6% |
| Botswana | 105 | 139 | 90.7 | 255 | 34.4% |
| Democratic Republic of the Congo | 61.1 | 5.5 | 6.6 | 242 | 58.2% |
| Mozambique | 19.1 | 40.6 | 76.5 | 30.9 | 17.4% |
| Lesotho | 74.1 | 206 | 39.3 | 26.6 | -28.9% |
| Others | 271 | 71.2 | 80.2 | 38.5 | -47.8% |
| Total | 1,612 | 1,201 | 1,680 | 1,975 | 7.0% |
Top Export Markets for Wire of Other Alloy Steel from South Africa in 2022:
- Namibia (336.6 tons)
- Zimbabwe (252.3 tons)
- Swaziland (213.5 tons)
- Botswana (208.6 tons)
- Zambia (109.3 tons)
- Democratic Republic of the Congo (36.3 tons)
- Mozambique (23.1 tons)
- Lesotho (18.9 tons)
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