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

Last year, the pandemic hit hard the ferrosilicon-consuming industries, primarily the automotive and metallurgy sectors. The market experienced a short-term oversupply, which, coupled with falling production costs, led to a decline in ferrosilicon prices. However, this did not last long. The rapid recovery of the Chinese economy and rising logistics costs have swung the price pendulum in the opposite direction. As the global economy returns to normal, the demand for ferrosilicon will continue to grow. The development of the solar power industry in China and the United States is expected to be a key driver, as is the shift to electric vehicles.

Global ferrosilicon exports are estimated at $3.5B, according to IndexBox data. Its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.

Based on 2019 figures, exports increased by +37.0% against 2016 indices. The most prominent rate of growth was recorded in 2010 with an increase of 48% against the previous year. Over the period under review, global exports hit record highs at $4.2B in 2011; however, from 2012 to 2019, exports remained at a lower figure.

Exports by Country

China (616K tonnes), distantly followed by Russia (381K tonnes), Malaysia (271K tonnes), Norway (199K tonnes), the Netherlands (197K tonnes) and Brazil (135K tonnes) represented the largest exporters of ferrosilicon, together making up 66% of total exports. France (102K tonnes), Iceland (95K tonnes), Poland (75K tonnes), Germany (72K tonnes), Ukraine (57K tonnes), Canada (48K tonnes), and South Africa (47K tonnes) followed a long way behind the leaders.

From 2009 to 2019, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Malaysia, while exports for the other global leaders experienced more modest paces of growth.

In value terms, China ($811M), Russia ($459M), and Malaysia ($286M) constituted the countries with the highest levels of exports in 2019, with a combined 45% share of global exports.

Among the main exporting countries, Malaysia recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average ferrosilicon export price stood at $1,268 per tonne in 2019, which is down by -12.8% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 19% year-to-year. Over the period under review, average export prices hit record highs at $1,557 per tonne in 2011; however, from 2012 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2019, the country with the highest price was Canada ($1,583 per tonne), while Malaysia ($1,053 per tonne) was amongst the lowest.

From 2009 to 2019, the most notable rate of growth in terms of prices was attained by Malaysia, while the other global leaders experienced more modest paces of growth.

Imports by Country

In 2019, Japan (440K tonnes), followed by South Korea (260K tonnes), Germany (242K tonnes), India (221K tonnes), the U.S. (197K tonnes), the Netherlands (128K tonnes), Spain (127K tonnes) and Italy (124K tonnes) were the main importers of ferrosilicon, together achieving 64% of total imports. The following importers – Belgium (111K tonnes), Turkey (97K tonnes), Austria (59K tonnes), China (47K tonnes), and Indonesia (44K tonnes) – together made up 13% of total imports.

From 2009 to 2019, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China, while imports for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($595M), South Korea ($301M), and Germany ($300M) were the countries with the highest levels of imports in 2019, with a combined 36% share of global imports. The U.S., India, the Netherlands, Italy, Belgium, Turkey, Spain, Austria, Indonesia, and China lagged somewhat behind, together accounting for a further 41%.

Among the main importing countries, China recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average ferrosilicon import price amounted to $1,233 per tonne, dropping by -16.9% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 18% year-to-year. Over the period under review, average import prices hit record highs at $1,657 per tonne in 2011; however, from 2012 to 2019, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($1,492 per tonne), while Spain ($631 per tonne) was amongst the lowest.

From 2009 to 2019, 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.

Source: IndexBox AI Platform