Ghana's Hot-Rolled Steel Bars and Rods Market Report 2024 - Prices, Size, Forecast, and Companies

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In 2023, the Ghanian market for hot-rolled steel bars and rods decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, consumption recorded a abrupt slump. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market remained at a lower figure.

In 2023, overseas shipments of hot-rolled steel bars and rods increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports posted a strong increase. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, hot-rolled steel bar and rod exports shrank to $X in 2023. Overall, exports recorded a pronounced increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Burkina Faso (X tons) was the main destination for hot-rolled steel bar and rod exports from Ghana, with a X% share of total exports. Moreover, hot-rolled steel bar and rod exports to Burkina Faso exceeded the volume sent to the second major destination, Mali (X tons), threefold. The third position in this ranking was held by Togo (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Burkina Faso stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (X% per year) and Togo (X% per year).

In value terms, Burkina Faso ($X) remains the key foreign market for hot-rolled steel bars and rods exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Mali ($X), with a X% share of total exports. It was followed by Togo, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Burkina Faso amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (X% per year) and Togo (X% per year).

In 2023, the average export price for hot-rolled steel bars and rods amounted to $X per ton, declining by X% against the previous year. In general, the export price showed a pronounced reduction. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Senegal ($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 Cote d'Ivoire (X%), while the prices for the other major destinations experienced a decline.

In 2023, supplies from abroad of hot-rolled steel bars and rods decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a pronounced shrinkage. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports attained the peak of X tons. From 2016 to 2023, the growth of imports remained at a lower figure.

In value terms, hot-rolled steel bar and rod imports fell notably to $X in 2023. Overall, imports saw a pronounced slump. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In 2023, China (X tons) constituted the largest hot-rolled steel bar and rod supplier to Ghana, 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, Ukraine (X tons), twofold. The third position in this ranking was held by Malaysia (X tons), with a X% share.

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

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

From 2012 to 2023, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (X% per year) and Russia (X% per year).

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. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in years to come.

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 Ukraine ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

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