Tanzania: Steel Stranded Wire Market 2024

Steel Stranded Wire Market Size in Tanzania

The Tanzanian steel stranded wire market fell markedly to $X in 2022, waning by X% 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). Over the period under review, consumption, however, enjoyed a significant increase. Over the period under review, the market reached the peak level at $X in 2021, and then fell sharply in the following year.

Steel Stranded Wire Exports

Exports from Tanzania

In 2022, after four years of growth, there was significant decline in shipments abroad of iron or steel stranded wire, ropes and cables, when their volume decreased by X% to X tons. Overall, exports continue to indicate a pronounced setback. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, steel stranded wire exports rose markedly to $X in 2022. In general, exports, however, showed a modest expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for steel stranded wire exports from Tanzania, accounting for a X% share of total exports. Moreover, steel stranded wire exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold. Turkey (X kg) ranked third in terms of total exports with a X% share.

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

In value terms, Democratic Republic of the Congo ($X) emerged as the key foreign market for iron or steel stranded wire, ropes and cables exports from Tanzania, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by Belgium, with a X% share.

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

Export Prices by Country

In 2022, the average steel stranded wire export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price showed a temperate increase. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Turkey ($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 Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Tanzania

In 2022, the amount of iron or steel stranded wire, ropes and cables imported into Tanzania shrank rapidly to X tons, waning by X% compared with the previous year. In general, imports, however, showed significant growth. The growth pace was the most rapid in 2014 with an increase of X%. Imports peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, steel stranded wire imports contracted rapidly to $X in 2022. Over the period under review, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of X%. Imports peaked at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel stranded wire to Tanzania, with a X% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), more than tenfold. The third position in this ranking was held by India (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel stranded wire, ropes and cables to Tanzania, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The average steel stranded wire import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, saw a noticeable contraction. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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