SADC: Market for Iron and Non-Alloy Steel in Ingots 2024

Market Size for Iron and Non-Alloy Steel in Ingots in SADC

The SADC market for iron and non-alloy steel in ingots expanded to $X in 2023, rising by X% against the previous year. Overall, consumption posted significant growth. Over the period under review, the market reached the maximum level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Production of Iron and Non-Alloy Steel in Ingots in SADC

In value terms, production of iron and non-alloy steel in ingots expanded modestly to $X in 2023 estimated in export price. Over the period under review, production showed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, production of attained the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Iron and Non-Alloy Steel in Ingots

Exports in SADC

In 2023, exports of iron and non-alloy steel in ingots in SADC dropped slightly to X tons, waning by X% compared with the previous year's figure. Over the period under review, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of iron and non-alloy steel in ingots amounted to $X in 2023. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

South Africa (X tons) and Mozambique (X tons) dominates ingots structure, together comprising X% of total exports. Zambia (X tons) held a minor share of total exports.

From 2012 to 2023, the biggest increases were recorded for Mozambique (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, South Africa ($X) remains the largest iron and non-alloy steel in ingot supplier in SADC, comprising X% of total exports. The second position in the ranking was held by Mozambique ($X), with an X% share of total exports.

In South Africa, exports of iron and non-alloy steel in ingots declined by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Mozambique (X% per year) and Zambia (X% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2023, rising by X% against the previous year. Overall, the export price showed a pronounced expansion. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced a decline in the export price figures.

Imports of Iron and Non-Alloy Steel in Ingots

Imports in SADC

In 2023, imports of iron and non-alloy steel in ingots in SADC skyrocketed to X tons, growing by X% compared with the year before. Overall, imports posted a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports of remained at a lower figure.

In value terms, imports of iron and non-alloy steel in ingots fell notably to $X in 2023. Over the period under review, imports posted a pronounced expansion. The growth pace was the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2022, and then shrank notably in the following year.

Imports by Country

Democratic Republic of the Congo prevails in ingots structure, finishing at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Tanzania (X tons), committing a X% share of total imports. The following importers - South Africa (X tons), Zambia (X tons) and Mozambique (X tons) - together made up X% of total imports.

Democratic Republic of the Congo was also the fastest-growing in terms of the iron and non-alloy steel in ingots imports, with a CAGR of X% from 2012 to 2023. At the same time, Zambia (X%) and Tanzania (X%) displayed positive paces of growth. By contrast, South Africa (X%) and Mozambique (X%) illustrated a downward trend over the same period. Democratic Republic of the Congo (X p.p.) and Zambia (X p.p.) significantly strengthened its position in terms of the total imports, while South Africa and Mozambique saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Democratic Republic of the Congo ($X) constitutes the largest market for imported iron and non-alloy steel in ingots in SADC, comprising X% of total imports. The second position in the ranking was taken by South Africa ($X), with a X% share of total imports. It was followed by Zambia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Democratic Republic of the Congo amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: South Africa (X% per year) and Zambia (X% per year).

Import Prices by Country

In 2023, the import price in SADC amounted to $X per ton, which is down by X% against the previous year. In general, the import price continues to indicate a pronounced setback. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Africa ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform