Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya - 2022
Contents:
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya (CIF) - 2022
- Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya (FOB) - 2022
- Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya
- Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya (CIF) - 2022
The average import price for iron or non-alloy steel wire, plated or coated with zincs stood at $850 per ton in December 2021, which is down by -23.3% against the previous month. Over the period from January 2021 to December 2021, it increased at an average monthly rate of +2.2%. The pace of growth was the most pronounced in November 2021 an increase of 26% against the previous month. As a result, import price reached the peak level of $1,108 per ton, and then fell remarkably in the following month.
There were significant differences in the average prices amongst the major supplying countries. In December 2021, the country with the highest price was India ($1,427 per ton), while the price for China ($731 per ton) was amongst the lowest.
From January 2021 to December 2021, the most notable rate of growth in terms of prices was attained by Egypt (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya (FOB) - 2022
The average export price for iron or non-alloy steel wire, plated or coated with zincs stood at $1,125 per ton in 2022, waning by -3.2% against the previous year. In general, the export price recorded a deep reduction. The growth pace was the most rapid in 2019 an increase of 47% against the previous year. Over the period under review, the average export prices attained the maximum at $4,590 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Burundi ($1,423 per ton) and Belgium ($1,356 per ton), while the average price for exports to Uganda ($1,010 per ton) and Rwanda ($1,050 per ton) were amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (+4.2%), while the prices for the other major destinations experienced a decline.
Imports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya
For the third year in a row, Kenya recorded decline in overseas purchases of iron or non-alloy steel wire, plated or coated with zincs, which decreased by -85.5% to 3.2K tons in 2022. In general, imports faced a dramatic decline. The smallest decline of -7.1% was in 2020.
In value terms, imports of iron or non-alloy steel wire, plated or coated with zincs contracted sharply to $3.6M in 2022. Overall, imports faced a precipitous decline. The smallest decline of -15.4% was in 2020.
| Import of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 16.9 | 12.5 | 8.2 | 1.3 | -57.5% |
| Oman | 1.7 | 1.4 | 0.2 | 0.8 | -22.2% |
| Uganda | 5.3 | 3.6 | 2.6 | 0.8 | -46.8% |
| Qatar | 0.3 | 0.3 | 0.1 | 0.2 | -12.6% |
| United Arab Emirates | 0.3 | 0.5 | 0.1 | 0.2 | -12.6% |
| Egypt | 0.8 | 1.9 | 5.0 | 0.1 | -50.0% |
| Turkey | 0.2 | 1.0 | N/A | N/A | 400.0% |
| Others | 0.6 | 0.8 | 0.7 | 0.2 | -30.7% |
| Total | 26.1 | 22.1 | 17.1 | 3.6 | -48.3% |
Top Suppliers of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc to Kenya in 2022:
- China (1027.2 tons)
- Oman (892.3 tons)
- Uganda (687.7 tons)
- United Arab Emirates (217.4 tons)
- Qatar (158.7 tons)
- Egypt (60.0 tons)
- Turkey (16.3 tons)
Exports of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya
In 2022, the amount of iron or non-alloy steel wire, plated or coated with zincs exported from Kenya soared to 2.1K tons, jumping by 56% compared with the year before. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 1,354%. Over the period under review, the exports of reached the maximum in 2022 and are likely to continue growth in years to come.
In value terms, exports of iron or non-alloy steel wire, plated or coated with zincs soared to $2.4M in 2022. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 718%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Export of Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc in Kenya (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Tanzania | 89.8 | 98.3 | 1,052 | 2,059 | 184.1% |
| Rwanda | 29.8 | 8.2 | 72.6 | 124 | 60.8% |
| Belgium | N/A | N/A | N/A | 67.8 | 0% |
| Uganda | 73.1 | 75.9 | 453 | 58.1 | -7.4% |
| Others | 57.1 | 11.3 | 7.2 | 80.4 | 12.1% |
| Total | 250 | 194 | 1,585 | 2,389 | 112.2% |
Top Export Markets for Iron or Non-Alloy Steel Wire, Plated or Coated with Zinc from Kenya in 2022:
- Tanzania (1834.5 tons)
- Rwanda (118.2 tons)
- Uganda (57.5 tons)
- Belgium (50.0 tons)
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This report provides an in-depth analysis of the market for iron and steel wire in Kenya.
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