World - Ferro-Alloys - Market Analysis, Forecast, Size, Trends And Insights
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The article provides a detailed analysis of the global ferro-alloys market, predicting a positive consumption trend with a forecasted CAGR of +2.1% in volume and +55.5% in value from 2022 to 2030. China emerges as the largest consumer and importer of ferro-alloys, accounting for a significant portion of global consumption. Indonesia shows the fastest growth in production and export of ferro-alloys. The report also highlights key trends in production, exports, and imports of various types of ferro-alloys, as well as price fluctuations over the years.
Market Forecast
Driven by increasing demand for ferro-alloys worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 60M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +55.5% for the period from 2022 to 2030, which is projected to bring the market value to $5,527.9B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Ferro-Alloys
In 2022, global ferro-alloys consumption rose to 51M tons, surging by 4.1% against the year before. The total consumption volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption reached the maximum volume in 2022 and is likely to see gradual growth in the near future.
The global ferro-alloys market size soared to $162B in 2022, with an increase of 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $166.7B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.
Consumption By Country
The country with the largest volume of ferro-alloys consumption was China (20M tons), accounting for 39% of total volume. Moreover, ferro-alloys consumption in China exceeded the figures recorded by the second-largest consumer, the United States (3.9M tons), fivefold. Japan (2.6M tons) ranked third in terms of total consumption with a 5.1% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +2.8%. In the other countries, the average annual rates were as follows: the United States (+4.9% per year) and Japan (+0.5% per year).
In value terms, China ($42.3B) led the market, alone. The second position in the ranking was held by the United States ($12.1B). It was followed by Russia.
In China, the ferro-alloys market increased at an average annual rate of +3.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: the United States (+7.1% per year) and Russia (+2.5% per year).
The countries with the highest levels of ferro-alloys per capita consumption in 2022 were South Korea (24 kg per person), South Africa (22 kg per person) and Japan (21 kg per person).
From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +9.4%), while consumption for the other global leaders experienced more modest paces of growth.
Consumption By Type
The products with the highest volumes of consumption in 2022 were miscellaneous ferro-alloys (16M tons), ferro-chromium (14M tons) and ferro-manganese (7.5M tons), together accounting for 73% of global consumption.
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consumed products, was attained by miscellaneous ferro-alloys (with a CAGR of +7.5%), while consumption for the other products experienced more modest paces of growth.
In value terms, miscellaneous ferro-alloys ($74.4B) led the market, alone. The second position in the ranking was held by ferro-chromium ($19.3B). It was followed by ferro-silicon.
For miscellaneous ferro-alloys, market increased at an average annual rate of +4.8% over the period from 2012-2022. With regard to the other consumed products, the following average annual rates of growth were recorded: ferro-chromium (+2.5% per year) and ferro-silicon (-1.6% per year).
Production
World Production of Ferro-Alloys
In 2022, production of ferro-alloys increased by 3.9% to 52M tons, rising for the second consecutive year after three years of decline. The total output volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 5.6%. Over the period under review, global production attained the peak volume in 2022 and is expected to retain growth in years to come.
In value terms, ferro-alloys production contracted to $106.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the production volume increased by 19% against the previous year. Global production peaked at $132.1B in 2018; however, from 2019 to 2022, production failed to regain momentum.
Production By Country
The countries with the highest volumes of production in 2022 were China (12M tons), Indonesia (6.3M tons) and South Africa (5M tons), together comprising 46% of global production.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Indonesia (with a CAGR of +32.6%), while production for the other global leaders experienced more modest paces of growth.
Production By Type
The products with the highest volumes of production in 2022 were miscellaneous ferro-alloys (16M tons), ferro-chromium (15M tons) and ferro-manganese (7.3M tons), together accounting for 74% of global production.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main produced products, was attained by miscellaneous ferro-alloys (with a CAGR of +7.7%), while production for the other products experienced more modest paces of growth.
In value terms, miscellaneous ferro-alloys ($62.6B) led the market, alone. The second position in the ranking was taken by ferro-chromium ($15.8B). It was followed by ferro-silicon.
From 2012 to 2022, the average annual rate of growth in terms of the value of miscellaneous ferro-alloys production stood at +2.6%. For the other products, the average annual rates were as follows: ferro-chromium (+2.2% per year) and ferro-silicon (-3.1% per year).
Imports
World Imports of Ferro-Alloys
Global ferro-alloys imports reached 23M tons in 2022, with an increase of 6.4% compared with 2021. The total import volume increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 18%. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in years to come.
In value terms, ferro-alloys imports soared to $56.2B in 2022. Overall, imports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2021 when imports increased by 58% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.
Imports By Country
In 2022, China (8.4M tons) represented the main importer of ferro-alloys, committing 37% of total imports. The United States (1.9M tons) took the second position in the ranking, followed by Japan (1.6M tons). All these countries together held approx. 15% share of total imports. The Netherlands (941K tons), Germany (818K tons), South Korea (800K tons), Indonesia (790K tons), Italy (647K tons), Turkey (597K tons), Belgium (541K tons), India (500K tons), Taiwan (Chinese) (455K tons) and Spain (401K tons) followed a long way behind the leaders.
Imports into China increased at an average annual rate of +16.1% from 2012 to 2022. At the same time, Indonesia (+16.9%), the Netherlands (+8.5%), India (+5.8%), Turkey (+3.4%), Spain (+1.7%) and the United States (+1.5%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of +16.9% from 2012-2022. Belgium and Japan experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-2.8%), South Korea (-3.0%), Italy (-3.7%) and Germany (-3.9%) illustrated a downward trend over the same period. While the share of China (+25 p.p.) and Indonesia (+2.4 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Taiwan (Chinese) (-2.1 p.p.), the United States (-2.6 p.p.), Italy (-3.5 p.p.), South Korea (-3.8 p.p.), Japan (-4.5 p.p.) and Germany (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($20.4B) constitutes the largest market for imported ferro-alloys worldwide, comprising 36% of global imports. The second position in the ranking was held by the United States ($5.1B), with a 9% share of global imports. It was followed by Japan, with a 6.7% share.
From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +18.7%. The remaining importing countries recorded the following average annual rates of imports growth: the United States (+5.4% per year) and Japan (+2.5% per year).
Imports By Type
In 2022, miscellaneous ferro-alloys (7.2M tons) and ferro-chromium (6.2M tons) represented the major types of ferro-alloysacross the globe, together resulting at near 59% of total imports. Ferro-silico-manganese (3.7M tons) ranks next in terms of the total imports with a 16% share, followed by ferro-silicon (14%) and ferro-manganese (9.7%).
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading imported products, was attained by miscellaneous ferro-alloys (with a CAGR of +16.4%), while imports for the other products experienced more modest paces of growth.
In value terms, miscellaneous ferro-alloys ($25.1B) constitutes the largest type of ferro-alloys imported worldwide, comprising 45% of global imports. The second position in the ranking was held by ferro-chromium ($10.2B), with an 18% share of global imports. It was followed by ferro-silicon, with a 13% share.
For miscellaneous ferro-alloys, imports expanded at an average annual rate of +11.1% over the period from 2012-2022. For the other products, the average annual rates were as follows: ferro-chromium (+3.2% per year) and ferro-silicon (+6.0% per year).
Import Prices By Type
In 2022, the average ferro-alloys import price amounted to $2,481 per ton, growing by 22% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-alloys import price increased by +62.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 33%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.
Prices varied noticeably by the product type; the product with the highest price was ferro-molybdenum ($27,813 per ton), while the price for ferro-silico-manganese ($1,560 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by ferro-silicon (+4.3%), while the other products experienced more modest paces of growth.
Import Prices By Country
The average ferro-alloys import price stood at $2,481 per ton in 2022, picking up by 22% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-alloys import price increased by +62.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 33%. Global import price peaked in 2022 and is likely to see gradual growth in the immediate term.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($3,610 per ton), while Indonesia ($1,662 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.1%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Ferro-Alloys
In 2022, approx. 24M tons of ferro-alloys were exported worldwide; rising by 5.8% on the previous year. In general, total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +67.5% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 23%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, ferro-alloys exports skyrocketed to $55.8B in 2022. Overall, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 58% against the previous year. The global exports peaked in 2022 and are likely to continue growth in the near future.
Exports By Country
In 2022, Indonesia (5.8M tons), distantly followed by South Africa (3.7M tons), India (2.6M tons), Kazakhstan (1.7M tons) and China (1.1M tons) represented the largest exporters of ferro-alloys, together generating 63% of total exports. The following exporters - Norway (918K tons), the Netherlands (854K tons), Malaysia (765K tons), Brazil (626K tons), Russia (591K tons), Zimbabwe (390K tons) and Ukraine (389K tons) - together made up 19% of total exports.
From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +59.4%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, Indonesia ($13.7B) remains the largest ferro-alloys supplier worldwide, comprising 25% of global exports. The second position in the ranking was taken by South Africa ($4.3B), with a 7.6% share of global exports. It was followed by Brazil, with a 7.3% share.
In Indonesia, ferro-alloys exports expanded at an average annual rate of +43.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Africa (+1.7% per year) and Brazil (+3.9% per year).
Exports By Type
Miscellaneous ferro-alloys (7.3M tons) and ferro-chromium (7.3M tons) represented roughly 62% of total exports in 2022. Ferro-silico-manganese (3.6M tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by ferro-silicon (13%) and ferro-manganese (8.6%).
From 2012 to 2022, the biggest increases were recorded for miscellaneous ferro-alloys (with a CAGR of +17.4%), while shipments for the other products experienced more modest paces of growth.
In value terms, miscellaneous ferro-alloys ($25.4B) remains the largest type of ferro-alloys supplied worldwide, comprising 46% of global exports. The second position in the ranking was held by ferro-chromium ($10.9B), with a 20% share of global exports. It was followed by ferro-silicon, with a 13% share.
For miscellaneous ferro-alloys, exports increased at an average annual rate of +10.6% over the period from 2012-2022. With regard to the other exported products, the following average annual rates of growth were recorded: ferro-chromium (+2.4% per year) and ferro-silicon (+6.4% per year).
Export Prices By Type
The average ferro-alloys export price stood at $2,366 per ton in 2022, surging by 23% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-alloys export price increased by +58.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 29% against the previous year. The global export price peaked in 2022 and is likely to see steady growth in years to come.
There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was ferro-molybdenum ($27,184 per ton), while the average price for exports of ferro-silico-manganese ($1,464 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by ferro-manganese (+4.4%), while the other products experienced more modest paces of growth.
Export Prices By Country
The average ferro-alloys export price stood at $2,366 per ton in 2022, with an increase of 23% against the previous year. In general, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-alloys export price increased by +58.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 29% against the previous year. The global export price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($6,514 per ton), while Zimbabwe ($961 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.1%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global ferro-alloys market. 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.
Product coverage:
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
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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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
This report provides an in-depth analysis of the global ferro-alloys market.
This report provides an in-depth analysis of the global miscellaneous ferro-alloys market.
This report provides an in-depth analysis of the global ferro-chromium market.
This report provides an in-depth analysis of the global ferro-silicon market.
This report provides an in-depth analysis of the global ferro-manganese market.
This report provides an in-depth analysis of the global ferro-titanium and ferro-silico-titanium market.
This report provides an in-depth analysis of the global ferro-silico-manganese market.
This report provides an in-depth analysis of the global ferro-molybdenum market.
China dominates the world market for ferro-alloys, importing a staggering $9.8 billion worth of these alloys in 2022. The United States, Japan, Indonesia, Germany, the Netherlands, Italy, South Korea, Turkey, and India are also major importers of ferro-alloys, driven by their respective manufacturing sectors and domestic consumption.
The conflict between Russia and Ukraine has had a significant impact on the ferroalloy industry. The main producing regions of ferroalloys are located in Eastern Europe, which has been affected by the conflict.
Throughout January-September 2021, global ferroalloy trade totalled $11.8B, increasing by +36% compared to the same period last year. This spike was caused by growing prices, as imports in physical terms remained nearly unchanged against the previous year’s figures. China tops the ferroalloy importer ranking with 29% of the total value, followed by Japan and the U.S. The average ferroalloy import price in September 2021 was estimated at $2.5 per kg, a 56%-increase compared to those of September 2020.
The global trade in ferro-alloys amounted to X million USD in 2015, fluctuating wildly over the period under review. A plunge in 2009 was followed by recovery over the next two years, until exports decreased again. Exports continued falling for th
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