Price for Iron or Steel; Cast Articles in South Africa - 2023
Contents:
- Price for Iron or Steel; Cast Articles in South Africa (CIF) - 2023
- Price for Iron or Steel; Cast Articles in South Africa (FOB) - 2022
- Imports of Iron or Steel; Cast Articles in South Africa
- Exports of Iron or Steel; Cast Articles in South Africa
Price for Iron or Steel; Cast Articles in South Africa (CIF) - 2023
In July 2023, the average import price for iron or steel; cast articleses amounted to $1,926 per ton, growing by 38% against the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $2,155 per ton in July 2022; however, from August 2022 to July 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was India ($1,914 per ton), while the price for China amounted to $1,775 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by India (+0.7%).
Price for Iron or Steel; Cast Articles in South Africa (FOB) - 2022
The average export price for iron or steel; cast articleses stood at $2,044 per ton in 2022, growing by 39% against the previous year. In general, the export price saw slight growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Democratic Republic of the Congo ($2,089 per ton) and Zambia ($2,051 per ton), while the average price for exports to Namibia ($1,506 per ton) and Turkey ($1,580 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron or Steel; Cast Articles in South Africa
Iron or steel; cast articles imports into South Africa dropped markedly to 18K tons in 2022, reducing by -31% against the previous year. Over the period under review, imports saw a precipitous decrease. The smallest decline of -7.8% was in 2021.
In value terms, iron or steel; cast articles imports fell to $34M in 2022. In general, imports showed a abrupt shrinkage. The smallest decline of -2.9% was in 2021.
| Import of Iron or Steel; Cast Articles in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 12.1 | 16.2 | 20.6 | 23.0 | 23.9% |
| India | 31.4 | 19.1 | 12.4 | 6.1 | -42.1% |
| Others | 2.7 | 3.2 | 4.5 | 4.7 | 20.3% |
| Total | 46.2 | 38.6 | 37.4 | 33.8 | -9.9% |
Top Suppliers of Iron or Steel; Cast Articles to South Africa in 2022:
- China (13.4K tons)
- India (3.7K tons)
Exports of Iron or Steel; Cast Articles in South Africa
For the fourth year in a row, South Africa recorded growth in overseas shipments of iron or steel; cast articleses, which increased by 0.3% to 17K tons in 2022. The total export volume increased at an average annual rate of +5.4% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 8.3%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, iron or steel; cast articles exports surged to $35M in 2022. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +17.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +80.5% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Iron or Steel; Cast Articles in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Zimbabwe | 3.5 | 7.3 | 5.7 | 8.4 | 33.9% |
| Botswana | 1.9 | 1.7 | 1.3 | 5.8 | 45.1% |
| Namibia | 4.7 | 2.6 | 4.1 | 3.6 | -8.5% |
| Democratic Republic of the Congo | 2.8 | 1.8 | 1.9 | 2.1 | -9.1% |
| Turkey | N/A | N/A | N/A | 1.8 | 0% |
| Mozambique | 2.4 | 1.1 | 1.8 | 1.5 | -14.5% |
| Eritrea | 0.3 | 2.0 | 1.9 | 1.0 | 49.4% |
| Zambia | 1.1 | 0.2 | 0.4 | 0.9 | -6.5% |
| Brazil | N/A | N/A | 1.1 | N/A | 0% |
| Others | 5.2 | 2.9 | 7.1 | 10.2 | 25.2% |
| Total | 21.9 | 19.6 | 25.3 | 35.3 | 17.2% |
Top Export Markets for Iron or Steel; Cast Articles from South Africa in 2022:
- Brazil (undefinedK tons)
- Zimbabwe (5.2K tons)
- Botswana (2.9K tons)
- Namibia (2.4K tons)
- Turkey (1.1K tons)
- Democratic Republic of the Congo (1.0K tons)
- Mozambique (0.9K tons)
- Eritrea (0.6K tons)
- Zambia (0.4K tons)
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