Morocco: Market for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) 2022

Market Size for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Morocco

In 2020, after four years of growth, there was significant decline in the Moroccan iron and steel wire market, when its value decreased by -X% to $X. Over the period under review, the total consumption indicated moderate growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the market value increased by X% against the previous year. Iron and steel wire consumption peaked at $X in 2019, and then contracted in the following year.

Exports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Exports from Morocco

In 2020, overseas shipments of wire of iron or non-alloy steel (stainless steel or other alloy steel) decreased by -X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Exports peaked at X tons in 2018; however, from 2019 to 2020, exports remained at a lower figure.

In value terms, iron and steel wire exports reduced to $X in 2020. In general, exports saw a abrupt decline. The growth pace was the most rapid in 2018 with an increase of X% y-o-y. As a result, exports reached the peak of $X. from 2019 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

Senegal (X tons) was the main destination for iron and steel wire exports from Morocco, with a X% share of total exports. Moreover, iron and steel wire exports to Senegal exceeded the volume sent to the second major destination, Mauritania (X tons), more than tenfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to Senegal totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritania (-X% per year) and Gabon (-X% per year).

In value terms, Senegal ($X) remains the key foreign market for iron and steel wire exports from Morocco, comprising X% of total exports. The second position in the ranking was occupied by Mauritania ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to Senegal totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritania (-X% per year) and Gabon (-X% per year).

Export Prices by Country

In 2020, the average iron and steel wire export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2017 when the average export price increased by X% year-to-year. Over the period under review, average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2020, export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2020, the country with the highest price was Senegal ($X per ton), while the average price for exports to Gabon ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Mauritania, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Imports into Morocco

In 2020, after two years of growth, there was significant decline in purchases abroad of wire of iron or non-alloy steel (stainless steel or other alloy steel), when their volume decreased by -X% to X tons. Overall, total imports indicated noticeable growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by X% y-o-y. Imports peaked at X tons in 2019, and then declined in the following year.

In value terms, iron and steel wire imports shrank to $X in 2020. In general, total imports indicated moderate growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when imports increased by X% against the previous year. Imports peaked at $X in 2019, and then shrank in the following year.

Imports by Country

Turkey (X tons), Spain (X tons) and Tunisia (X tons) were the main suppliers of iron and steel wire imports to Morocco, with a combined X% share of total imports. China, Portugal, Italy and Thailand lagged somewhat behind, together comprising a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire suppliers to Morocco were Turkey ($X), Spain ($X) and Tunisia ($X), together accounting for X% of total imports. China, Portugal, Italy and Thailand lagged somewhat behind, together accounting for a further X the main suppliers, Thailand (+X% per year) saw the highest rates of growth with regard to 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

The average iron and steel wire import price stood at $X per ton in 2020, rising by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. As a result, import price reached the peak level of $X per ton. from 2009 to 2020, the growth in terms of the average import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Italy ($X per ton), while the price for Tunisia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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