Angola: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Angola

The Angolan market for hot-rolled steel bars and rods reduced to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption saw a sharp decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Hot-Rolled Steel Bars and Rods in Angola

In value terms, hot-rolled steel bar and rod production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. Over the period under review, production attained the peak level in 2022 and is likely to see gradual growth in the immediate term.

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Exports of Hot-Rolled Steel Bars and Rods

Exports from Angola

For the eleventh year in a row, Angola recorded growth in shipments abroad of hot-rolled steel bars and rods, which increased by X% to X tons in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, hot-rolled steel bar and rod exports soared to $X in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for hot-rolled steel bar and rod exports from Angola, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Democratic Republic of the Congo amounted to X%.

In value terms, Democratic Republic of the Congo ($X) also remains the key foreign market for hot-rolled steel bars and rods exports from Angola.

From 2012 to 2022, the average annual growth rate of value to Democratic Republic of the Congo amounted to X%.

Export Prices by Country

The average export price for hot-rolled steel bars and rods stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Democratic Republic of the Congo.

From 2012 to 2022, the rate of growth in terms of prices for Democratic Republic of the Congo amounted to X% per year.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Angola

In 2022, approx. X tons of hot-rolled steel bars and rods were imported into Angola; waning by X% on the previous year's figure. In general, imports showed a dramatic contraction. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, hot-rolled steel bar and rod imports contracted significantly to $X in 2022. Overall, imports faced a dramatic contraction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest hot-rolled steel bar and rod supplier to Angola, accounting for a X% share of total imports. Moreover, hot-rolled steel bar and rod imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sixfold. Portugal (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Portugal (X% per year).

In value terms, China ($X) constituted the largest supplier of hot-rolled steel bars and rods to Angola, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by Portugal, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Portugal (X% per year).

Import Prices by Country

In 2022, the average import price for hot-rolled steel bars and rods amounted to $X per ton, rising by X% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled steel bar and rod import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

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 Spain ($X per ton), while the price for Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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