Angola: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Angola

The Angolan market for hot-rolled steel bars and rods reached $X in 2022, approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a dramatic contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Angola

Hot-rolled steel bar and rod exports from Angola expanded rapidly to X tons in 2023, with an increase of X% compared with 2022 figures. In general, exports showed a significant expansion. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, hot-rolled steel bar and rod exports expanded significantly to $X in 2023. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for hot-rolled steel bar and rod exports from Angola, accounting for a X% share of total exports. It was followed by Gabon (X tons), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of volume to Democratic Republic of the Congo stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gabon (X% per year) and Benin (X% per year).

In value terms, Democratic Republic of the Congo ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Angola, comprising X% of total exports. The second position in the ranking was held by Benin ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Democratic Republic of the Congo totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and Gabon (X% per year).

Export Prices by Country

In 2023, the average export price for hot-rolled steel bars and rods amounted to $X per ton, almost unchanged from the previous year. Overall, export price indicated a temperate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, hot-rolled steel bar and rod export price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2023, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Gabon ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Benin (X%), while the prices for the other major destinations experienced a decline.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Angola

In 2023, imports of hot-rolled steel bars and rods into Angola soared to X tons, growing by X% on the previous year's figure. Over the period under review, imports, however, recorded a dramatic descent. The growth pace was the most rapid in 2019 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, hot-rolled steel bar and rod imports soared to $X in 2023. Overall, imports, however, recorded a dramatic decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of hot-rolled steel bar and rod to Angola, accounting for a X% share of total imports. Moreover, hot-rolled steel bar and rod imports from China exceeded the figures recorded by the second-largest supplier, Portugal (X tons), more than tenfold. The third position in this ranking was taken by Turkey (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (X% per year) and Turkey (X% per year).

In value terms, China ($X) constituted the largest supplier of hot-rolled steel bars and rods to Angola, comprising X% of total imports. The second position in the ranking was held by Portugal ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (X% per year) and Turkey (X% per year).

Import Prices by Country

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2023, increasing by X% against the previous year. In general, import price indicated a modest expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, hot-rolled steel bar and rod import price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform