Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Africa - 2024

Contents:

1. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Africa (CIF) - 2024
2. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Africa (FOB) - 2022
3. Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Africa
4. Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Africa

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Africa (CIF) - 2024

The average import price for steel, alloy stood at $1,869 per ton in January 2024, shrinking by -39.8% against the previous month. In general, the import price recorded a abrupt slump. The pace of growth was the most pronounced in December 2023 an increase of 63% month-to-month. Over the period under review, average import prices attained the maximum at $4,276 per ton in May 2023; however, from June 2023 to January 2024, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In January 2024, the country with the highest price was China ($1,960 per ton), while the price for Singapore amounted to $1,779 per ton.

From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by India (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Africa (FOB) - 2022

The average export price for steel, alloy stood at $617 per ton in 2022, increasing by 20% against the previous year. In general, the export price, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 an increase of 333% against the previous year. The export price peaked at $5,980 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($2,296 per ton), while the average price for exports to China ($256 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Zimbabwe (+3.3%), while the prices for the other major destinations experienced a decline.

Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Africa

In 2022, overseas purchases of steel, alloy decreased by -5.6% to 9K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, recorded a mild increase. The pace of growth appeared the most rapid in 2021 when imports increased by 6.6%. As a result, imports attained the peak of 9.6K tons, and then contracted in the following year.

In value terms, imports of steel, alloy surged to $32M in 2022. Overall, imports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 54%. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the near future.

Top Suppliers of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented to South Africa in 2022:

1. China (5.3K tons)
2. Japan (1.8K tons)
3. France (0.5K tons)
4. South Korea (0.4K tons)
5. Australia (0.3K tons)
6. Germany (0.3K tons)
7. Russia (0.2K tons)

Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented in South Africa

In 2022, exports of steel, alloy from South Africa skyrocketed to 529 tons, growing by 63% compared with the previous year's figure. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2020 when exports increased by 13,454% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of steel, alloy soared to $327K in 2022. Overall, exports enjoyed significant growth. The growth pace was the most rapid in 2020 with an increase of 1,606% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

Top Export Markets for Steel, Alloy; Flat-Rolled, Width 600mm or More, of Silicon-Electrical Steel, Grain-Oriented from South Africa in 2022:

1. India (264.1 tons)
2. China (153.3 tons)
3. Zimbabwe (60.0 tons)
4. Italy (50.5 tons)

Source: IndexBox Market Intelligence Platform