SADC: Iron And Steel Market 2024

Iron And Steel Market Size in SADC

The SADC iron and steel market fell remarkably to $X in 2023, reducing by X% against the previous year. Overall, consumption, however, recorded a noticeable contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Iron And Steel Production in SADC

In value terms, iron and steel production dropped rapidly to $X in 2023 estimated in export price. Over the period under review, production, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Iron And Steel Exports

Exports in SADC

In 2023, shipments abroad of iron and steel increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, iron and steel exports reduced rapidly to $X in 2023. Overall, exports, however, saw a noticeable reduction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from South Africa (X tons), together finishing at X% of total export.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of iron and steel. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest iron and steel supplier in SADC.

In South Africa, iron and steel exports declined by an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in SADC stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the export price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2023, the rate of growth in terms of prices for South Africa amounted to X% per year.

Iron And Steel Imports

Imports in SADC

In 2023, the amount of iron and steel imported in SADC expanded markedly to X tons, surging by X% against 2022 figures. In general, imports posted a moderate expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, iron and steel imports reduced remarkably to $X in 2023. Overall, imports continue to indicate perceptible growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then declined remarkably in the following year.

Imports by Country

Democratic Republic of the Congo represented the major importer of iron and steel in SADC, with the volume of imports recording X tons, which was approx. X% of total imports in 2023. It was distantly followed by Mozambique (X tons), comprising an X% share of total imports. South Africa (X tons), Tanzania (X tons), Mauritius (X tons) and Zambia (X tons) took a minor share of total imports.

Democratic Republic of the Congo was also the fastest-growing in terms of the iron and steel 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, Mauritius (X%), Mozambique (X%) and South Africa (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Democratic Republic of the Congo increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Democratic Republic of the Congo, iron and steel imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Mozambique (X% per year) and South Africa (X% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2022 when the import price increased by X%. As a result, import price attained the peak level of $X per ton, and then shrank notably in the following year.

Prices varied noticeably by country of destination: 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