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

Exports 2007-2018

In 2018, approx. 7.2M tonnes of ferro-chromium were exported worldwide; going up by 6.2% against the previous year. The total export volume increased at an average annual rate of +1.2% from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being observed over the period under review. The growth pace was the most rapid in 2010 with an increase of 26% year-to-year. The global exports peaked in 2018 and are expected to retain its growth in the immediate term. In value terms, ferro-chromium exports totaled $9B (IndexBox estimates) in 2018.

Exports by Country

South Africa represented the largest exporter of ferro-chromium exported in the world, with the volume of exports reaching 3.7M tonnes, which was near 51% of total exports in 2018. Kazakhstan (1,313K tonnes) ranks second in terms of the total exports with a 18% share, followed by India (11%). Finland (282K tonnes), Russia (278K tonnes), Zimbabwe (247K tonnes) and Turkey (119K tonnes) held a minor share of total exports.

Exports from South Africa increased at an average annual rate of +1.9% from 2007 to 2018. At the same time, Finland (+9.9%), India (+5.9%), Turkey (+2.5%) and Zimbabwe (+2.2%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.9% from 2007-2018. Kazakhstan experienced a relatively flat trend pattern. By contrast, Russia (-2.0%) illustrated a downward trend over the same period.

In value terms, the largest ferro-chromium supplying countries worldwide were South Africa ($3.6B), Kazakhstan ($2B) and India ($1.1B), together accounting for 74% of global exports. These countries were followed by Russia, Finland, Zimbabwe and Turkey, which together accounted for a further 16%.

Export Prices by Country

The average ferro-chromium export price stood at $1,261 per tonne in 2018, increasing by 5.2% against the previous year. Over the period under review, the export price indicated a mild expansion from 2007 to 2018: its price increased at an average annual rate of +1.7% over the last eleven-year period.

Prices varied noticeably by the country of origin; the country with the highest price was Turkey ($2,322 per tonne), while South Africa ($988 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Turkey, while the other global leaders experienced more modest paces of growth.

Imports 2007-2018

Global imports amounted to 7.1M tonnes in 2018, jumping by 3.6% against the previous year. Over the period under review, ferro-chromium imports continue to indicate a relatively flat trend pattern. Over the period under review, global ferro-chromium imports attained their peak figure in 2018 and are expected to retain its growth in the immediate term. In value terms, ferro-chromium imports stood at $9.2B (IndexBox estimates) in 2018.

Imports by Country

In 2018, China (1.8M tonnes), distantly followed by the U.S. (829K tonnes), Japan (788K tonnes), South Korea (595K tonnes), the United Arab Emirates (441K tonnes) and Belgium (349K tonnes) represented the major importers of ferro-chromium, together achieving 67% of total imports. Mozambique (317K tonnes), Italy (301K tonnes), Taiwan, Chinese (284K tonnes), Germany (279K tonnes), Spain (197K tonnes) and Indonesia (189K tonnes) took a minor share of total imports.

From 2007 to 2018, average annual rates of growth with regard to ferro-chromium imports into China stood at +3.3%. At the same time, the United Arab Emirates (+58.1%), Indonesia (+56.3%), the U.S. (+7.1%) and South Korea (+3.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the world, with a CAGR of +58.1% from 2007-2018. By contrast, Spain (-1.3%), Japan (-1.8%), Belgium (-2.5%), Italy (-3.0%), Taiwan, Chinese (-4.0%), Germany (-4.8%) and Mozambique (-5.7%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China, the U.S., the United Arab Emirates, Indonesia and South Korea increased by +7.5%, +6.2%, +6.2%, +2.6% and +2.4% percentage points, while Belgium (-1.6 p.p.), Italy (-1.7 p.p.), Taiwan, Chinese (-2.3 p.p.), Japan (-2.5 p.p.), Germany (-2.8 p.p.) and Mozambique (-4 p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.8B), Japan ($1.2B) and the U.S. ($1.2B) constituted the countries with the highest levels of imports in 2018, together accounting for 47% of global imports. These countries were followed by South Korea, Germany, Taiwan, Chinese, Belgium, the United Arab Emirates, Italy, Mozambique, Spain and Indonesia, which together accounted for a further 39%.

Import Prices by Country

In 2018, the average ferro-chromium import price amounted to $1,288 per tonne, flattening at the previous year. Over the period under review, the import price indicated measured growth from 2007 to 2018: its price increased at an average annual rate of +2.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, ferro-chromium import price increased by +35.2% against 2016 indices.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Germany ($1,757 per tonne), while Mozambique ($824 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform