Eastern Asia: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Eastern Asia

The East Asian ferro-chromium market expanded remarkably to $X in 2023, surging by X% against the previous year. The total consumption indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Ferro-Chromium Production in Eastern Asia

In value terms, ferro-chromium production expanded sharply to $X in 2023 estimated in export price. The total production indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2014 when the production volume increased by X%. The level of production peaked at $X in 2016; however, from 2017 to 2023, production stood at a somewhat lower figure.

Ferro-Chromium Exports

Exports in Eastern Asia

After three years of growth, overseas shipments of ferro-chromium decreased by X% to X tons in 2023. In general, exports, however, saw a notable increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, ferro-chromium exports reduced to $X in 2023. Overall, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of export peaked at $X in 2022, and then contracted in the following year.

Exports by Country

China prevails in exports structure, reaching X tons, which was near X% of total exports in 2023. Taiwan (Chinese) (X tons), Japan (X tons) and Hong Kong SAR (X tons) held a little share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Hong Kong SAR (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Japan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest ferro-chromium supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with an X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

In China, ferro-chromium exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Japan (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated a perceptible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-chromium export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced mixed trends in the export price figures.

Ferro-Chromium Imports

Imports in Eastern Asia

Ferro-chromium imports surged to X tons in 2023, with an increase of X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2019; afterwards, it flattened through to 2023.

In value terms, ferro-chromium imports expanded significantly to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are likely to see gradual growth in years to come.

Imports by Country

China represented the largest importing country with an import of around X tons, which resulted at X% of total imports. Japan (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%). Taiwan (Chinese) (X tons) held a relatively small share of total imports.

China was also the fastest-growing in terms of the ferro-chromium imports, with a CAGR of X% from 2012 to 2023. South Korea experienced a relatively flat trend pattern. Japan (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points.

In value terms, China ($X) constitutes the largest market for imported ferro-chromium in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China totaled X%. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform