Tanzania: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in Tanzania

In 2022, the Tanzanian free-cutting steel wire rod market decreased by X% to $X, falling for the sixth year in a row after two years of growth. In general, consumption continues to indicate a abrupt decline. Free-cutting steel wire rod consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Wire Rod Of Free-Cutting Steel in Tanzania

In value terms, free-cutting steel wire rod production contracted to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. Free-cutting steel wire rod production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Wire Rod Of Free-Cutting Steel

Exports from Tanzania

In 2022, overseas shipments of wire rod of free-cutting steel decreased by X% to X tons, falling for the fourth year in a row after three years of growth. Over the period under review, exports saw a significant curtailment. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, free-cutting steel wire rod exports shrank dramatically to $X in 2022. Overall, exports showed a dramatic curtailment. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Kenya (X tons) was the main destination for free-cutting steel wire rod exports from Tanzania, with a X% share of total exports. It was followed by Democratic Republic of the Congo (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Kenya amounted to X%.

In value terms, Kenya ($X) remains the key foreign market for wire rod of free-cutting steel exports from Tanzania, comprising X% of total exports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Kenya totaled X%.

Export Prices by Country

The average free-cutting steel wire rod export price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Kenya amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Wire Rod Of Free-Cutting Steel

Imports into Tanzania

In 2022, overseas purchases of wire rod of free-cutting steel decreased by X% to X tons, falling for the sixth consecutive year after two years of growth. Overall, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, free-cutting steel wire rod imports fell to $X in 2022. Over the period under review, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main supplier of free-cutting steel wire rod to Tanzania, accounting for a X% share of total imports. Moreover, free-cutting steel wire rod imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Kenya (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at X%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of wire rod of free-cutting steel to Tanzania, comprising X% of total imports. The second position in the ranking was taken by Kenya ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at X%.

Import Prices by Country

In 2022, the average free-cutting steel wire rod import price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Kenya ($X per ton), while the price for the United Arab Emirates amounted to $X per ton.

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

Source: IndexBox Platform

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