South Africa: Steel Plaited Band Market 2024

Steel Plaited Band Market Size in South Africa

In 2022, the South African steel plaited band market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, showed a mild setback. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Steel Plaited Band Production in South Africa

In value terms, steel plaited band production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Steel Plaited Band Exports

Exports from South Africa

Steel plaited band exports from South Africa shrank to X tons in 2022, dropping by X% compared with the previous year. Over the period under review, exports saw a noticeable descent. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, steel plaited band exports amounted to $X in 2022. In general, exports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Namibia (X tons) was the main destination for steel plaited band exports from South Africa, accounting for a X% share of total exports. Moreover, steel plaited band exports to Namibia exceeded the volume sent to the second major destination, Mozambique (X tons), threefold. The third position in this ranking was taken by Swaziland (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Namibia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (X% per year) and Swaziland (X% per year).

In value terms, Namibia ($X) remains the key foreign market for iron or steel plaited bands and slings exports from South Africa, comprising X% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a X% share of total exports. It was followed by Zambia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Namibia amounted to 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 Zambia (X% per year).

Export Prices by Country

The average steel plaited band export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Zambia ($X per ton), while the average price for exports to Japan ($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 Zambia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Plaited Band Imports

Imports into South Africa

In 2022, after two years of decline, there was growth in purchases abroad of iron or steel plaited bands and slings, when their volume increased by X% to X tons. Over the period under review, imports, however, faced a deep contraction. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, steel plaited band imports soared to $X in 2022. Overall, imports, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel plaited band to South Africa, accounting for a X% share of total imports. Moreover, steel plaited band imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold. The third position in this ranking was held by the United States (X tons), 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: Thailand (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel plaited bands and slings to South Africa, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Thailand, 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: the United States (X% per year) and Thailand (X% per year).

Import Prices by Country

The average steel plaited band import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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