Morocco: Base Metal Hook Market 2023

Base Metal Hook Market Size in Morocco

The Moroccan base metal hook market soared to $X in 2021, growing by 55% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.3% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Base Metal Hook Exports

Exports from Morocco

In 2021, overseas shipments of base metal hooks, eyes and eyelets decreased by -67.2% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2018 with an increase of 572%. Over the period under review, the exports reached the maximum at X tons in 2020, and then dropped rapidly in the following year.

In value terms, base metal hook exports fell sharply to $X in 2021. In general, exports, however, continue to indicate slight growth. The growth pace was the most rapid in 2018 with an increase of 1,615%. Over the period under review, the exports hit record highs at $X in 2020, and then shrank significantly in the following year.

Exports by Country

France (X tons) was the main destination for base metal hook exports from Morocco, accounting for a 58% share of total exports. Moreover, base metal hook exports to France exceeded the volume sent to the second major destination, Benin (X kg), fivefold. Cote d'Ivoire (X kg) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (0.0% per year) and Cote d'Ivoire (+1.7% per year).

In value terms, France ($X) remains the key foreign market for base metal hook exports from Morocco, comprising 95% of total exports. The second position in the ranking was taken by Tunisia ($X), with a 1.8% share of total exports. It was followed by Benin, with a 1.3% share.

From 2012 to 2021, the average annual growth rate of value to France amounted to +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (-29.8% per year) and Benin (0.0% per year).

Export Prices by Country

In 2021, the average base metal hook export price amounted to $X per ton, picking up by 30% against the previous year. Over the period under review, the export price saw a noticeable expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 155%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Ethiopia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+6.6%), while the prices for the other major destinations experienced mixed trend patterns.

Base Metal Hook Imports

Imports into Morocco

In 2021, the amount of base metal hooks, eyes and eyelets imported into Morocco soared to X tons, growing by 32% on 2020 figures. Overall, imports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 91%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, base metal hook imports surged to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of base metal hook to Morocco, with a 76% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+18.2% per year) and Spain (+5.6% per year).

In value terms, China ($X) constituted the largest supplier of base metal hook to Morocco, comprising 51% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 14% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+45.6% per year) and France (-3.0% per year).

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2021, surging by 21% against the previous year. Over the period under review, the import price, however, showed a deep slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by 27% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Sri Lanka ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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