Tanzania: Flat-Rolled Steel Coils Market 2024

Flat-Rolled Steel Coils Market Size in Tanzania

In 2023, after two years of growth, there was significant decline in the Tanzanian flat-rolled steel coils market, when its value decreased by X% to $X. Overall, consumption showed a notable expansion. Flat-rolled steel coils consumption peaked at $X in 2022, and then reduced in the following year.

Flat-Rolled Steel Coils Production in Tanzania

In value terms, flat-rolled steel coils production reached $X in 2023 estimated in export price. In general, production enjoyed a resilient increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Flat-Rolled Steel Coils Exports

Exports from Tanzania

In 2023, approx. X tons of flat-rolled steel in coils were exported from Tanzania; rising by X% against 2022. In general, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, flat-rolled steel coils exports soared to $X in 2023. Overall, exports saw a strong increase. The pace of growth was the most pronounced in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for flat-rolled steel coils exports from Tanzania, accounting for a X% share of total exports. Moreover, flat-rolled steel coils exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Kenya (X tons), threefold. The third position in this ranking was taken by Rwanda (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Democratic Republic of the Congo amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (X% per year) and Rwanda (X% per year).

In value terms, Democratic Republic of the Congo ($X) emerged as the key foreign market for flat-rolled steel in coils exports from Tanzania, comprising X% of total exports. The second position in the ranking was held by Rwanda ($X), with a X% share of total exports. It was followed by Kenya, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Democratic Republic of the Congo stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (X% per year) and Kenya (X% per year).

Export Prices by Country

The average flat-rolled steel coils export price stood at $X per ton in 2023, jumping by X% against the previous year. Overall, the export price, however, showed a mild decrease. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Kenya ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malawi (X%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Coils Imports

Imports into Tanzania

For the third consecutive year, Tanzania recorded growth in supplies from abroad of flat-rolled steel in coils, which increased by X% to X tons in 2023. In general, total imports indicated pronounced growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the near future.

In value terms, flat-rolled steel coils imports declined markedly to $X in 2023. Over the period under review, imports showed a moderate expansion. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2022, and then reduced sharply in the following year.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of flat-rolled steel coils imports to Tanzania, with a combined X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel coils suppliers to Tanzania were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports.

South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average flat-rolled steel coils import price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then shrank markedly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were India ($X per ton) and China ($X per ton), while the price for South Korea ($X per ton) and South Africa ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform