Chromium Ore and Concentrate Imports in China to Regain Momentum - Global Trade Magazine
  August 26th, 2021 | Written by

Chromium Ore and Concentrate Imports in China to Regain Momentum

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  • In value terms, South Africa ($1.8B) remains the largest chromium ore and concentrate supplier worldwide.
  • China, the major importer of chromium ores and concentrates, comprises over 70% of the total global imports.
  •  In Q1 2021, shipments to the country stood at a level slightly lower than in the same period of 2020.chromom

IndexBox has just published a new report: ‘World – Chromium ores and concentrates – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In 2020, global exports of chromium ores and concentrates reduced sharply by -10.2% y-o-y to 16M tonnes. China, the major importer of chromium ores and concentrates, comprises over 70% of the total global imports. In Q1 2021, shipments to the country stood at a level slightly lower than in the same period of 2020. South Africa remains the largest exporter worldwide, accounting for 79% of the total global exports.

Largest Importers of Chromium Ores and Concentrates

In 2020, China (16M tonnes) represented the key importer of chromium ores and concentrates, constituting 71% of total imports. It was distantly followed by Mozambique (3.8M tonnes), generating a 17% share of total imports. Russia (896K tonnes) followed a long way behind the leaders.

In value terms, China ($3B) constitutes the largest market for imported chromium ores and concentrates worldwide, comprising 77% of global imports. The second position in the ranking was occupied by Mozambique ($386M), with a 10% share of global imports.

In Q1 2021, shipments to the country stood at a level slightly lower than in the same period of 2020. A sharp drop was recorded in Q2 2020 due to the pandemic, followed by a recovery, after which imports stabilized. Should the trend pattern remain flat in 2021, a slight growth against 2020 could be expected.

Chromium Ore and Concentrate Exports by Country

In 2020, approx. 16M tonnes of chromium ores and concentrates were exported worldwide; shrinking by -10.2% on the previous year. In value terms, chromium ore and concentrate exports fell rapidly to $2.5B (IndexBox estimates) in 2020.

South Africa dominates chromium ore and concentrate export structure, accounting for 13M tonnes, which was near 79% of total exports in 2020. The following exporters – Kazakhstan (676K tonnes), Turkey (672K tonnes), Zimbabwe (583K tonnes), Oman (378K tonnes), Pakistan (279K tonnes) and Albania (249K tonnes) – together made up 18% of total exports.

In 2020, average annual rates of growth with regard to chromium ore and concentrate exports from South Africa stood at -7.4%. Kazakhstan (-3.3%), Zimbabwe (-13.6%), Pakistan (-16.6%), Albania (-22.0%), Turkey (-33.4%) and Oman (-36.2%) illustrated a downward trend over the same period.

In value terms, South Africa ($1.8B) remains the largest chromium ore and concentrate supplier worldwide, comprising 74% of global exports. The second position in the ranking was occupied by Turkey ($126M), with a 5.1% share of global exports. It was followed by Zimbabwe, with a 4.4% share.

In 2020, the average chromium ore and concentrate export price amounted to $152 per tonne, which is down by -13.3% against the previous year. There were differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Pakistan ($191 per tonne), while Oman ($100 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Kazakhstan, while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Platform