Indonesia Sharply Expands Ferroalloy Exports to China
IndexBox has just published a new report: ‘Indonesia – FerroAlloys – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
Indonesia sharply increased ferroalloy exports due to booming demand from its major trade partner, China. The supplies to China grew nearly twofold, while the total exports from Indonesia spiked from 1.6M tonnes in 2019 to 2.9M tonnes in 2020. In value terms, China’s purchases comprise 96% of total ferroalloy exports from Indonesia.
Ferroalloy Exports from Indonesia
Ferroalloy exports from Indonesia surged from 1.6M tonnes in 2019 to 2.9M tonnes in 2020. In value terms, ferroalloy exports jumped from $2.6B to $4.7B (IndexBox estimates) last year.
China (2.8M tonnes) was the main destination for ferroalloy exports from Indonesia, with a 97% share of total exports. In 2020, the supplies to China grew by +97.3% y-o-y. India (56K tonnes) followed China, accounting for 1.9% of Indonesian exports.
In value terms, China ($4.5B) remains the key foreign market for ferroalloy exports from Indonesia, comprising 96% of total exports. The second position in the ranking was occupied by India ($129M), with a 2.7% share of total exports.
The average ferroalloy export price stood at $1,648 per tonne in 2020, remaining relatively unchanged against the previous year. Average prices varied somewhat for the major external markets. In 2020, the country with the highest price was India ($2,292 per tonne), while the average price for exports to China totaled $1,635 per tonne. In 2020, the most notable rate of growth in terms of prices was recorded for supplies to India.
Source: IndexBox Platform