Kenya: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Kenya

The Kenyan market for raw steel and steel semi-finished products expanded modestly to $X in 2022, rising by X% against the previous year. Over the period under review, consumption, however, saw resilient growth. Consumption of peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Raw Steel And Steel Semi-Finished Products in Kenya

In value terms, production of raw steel and steel semi-finished products declined significantly to $X in 2022 estimated in export price. Overall, production showed a slight downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth remained at a somewhat lower figure.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Kenya

In 2022, after two years of decline, there was significant growth in shipments abroad of raw steel and steel semi-finished products, when their volume increased by X% to X tons. Over the period under review, exports saw a significant expansion. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of raw steel and steel semi-finished products soared to $X in 2022. Overall, exports recorded significant growth. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Uganda (X tons) was the main destination for exports of raw steel and steel semi-finished products from Kenya, accounting for a X% share of total exports. Moreover, exports of raw steel and steel semi-finished products to Uganda exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Uganda stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (X% per year) and Burundi (X% per year).

In value terms, Uganda ($X) emerged as the key foreign market for raw steel and steel semi-finished products exports from Kenya, comprising X% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Uganda stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (X% per year) and Burundi (X% per year).

Export Prices by Country

In 2022, the average export price for raw steel and steel semi-finished products amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price saw a noticeable reduction. The growth pace was the most rapid in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Burundi ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X 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 Burundi (X%), while the prices for the other major destinations experienced a decline.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Kenya

In 2022, overseas purchases of raw steel and steel semi-finished products decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, imports of raw steel and steel semi-finished products expanded slightly to $X in 2022. In general, imports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

India (X tons), South Africa (X tons) and the United Arab Emirates (X tons) were the main suppliers of imports of raw steel and steel semi-finished products to Kenya, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), South Africa ($X) and the United Arab Emirates ($X) constituted the largest raw steel and steel semi-finished products suppliers to Kenya, with a combined X% share of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for raw steel and steel semi-finished products amounted to $X per ton, growing by X% against the previous year. Overall, import price indicated a tangible expansion 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, import price for raw steel and steel semi-finished products increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($X per ton) and South Africa ($X per ton), while the price for Ukraine ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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