SADC: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in SADC

The SADC ferro-chromium market shrank dramatically to $X in 2023, dropping by X% against the previous year. Over the period under review, consumption showed a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Ferro-Chromium Production in SADC

In value terms, ferro-chromium production rose notably to $X in 2023 estimated in export price. Overall, production, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Ferro-Chromium Exports

Exports in SADC

In 2023, approx. X tons of ferro-chromium were exported in SADC; growing by X% against the year before. The total export 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 pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of export peaked in 2023 and is likely to see steady growth in years to come.

In value terms, ferro-chromium exports soared to $X in 2023. Total exports indicated a temperate increase from 2012 to 2023: its value 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2023 and are likely to see steady growth in the immediate term.

Exports by Country

South Africa dominates exports structure, reaching X tons, which was near X% of total exports in 2023. It was distantly followed by Zimbabwe (X tons), comprising a X% share of total exports.

Exports from South Africa increased at an average annual rate of X% from 2012 to 2023. At the same time, Zimbabwe (X%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2023. Zimbabwe (X p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, South Africa ($X) remains the largest ferro-chromium supplier in SADC, comprising X% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a X% share of total exports.

In South Africa, ferro-chromium exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in SADC amounted to $X per ton, leveling off at the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then reduced slightly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Zimbabwe totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%).

Ferro-Chromium Imports

Imports in SADC

In 2023, after two years of growth, there was significant decline in overseas purchases of ferro-chromium, when their volume decreased by X% to X tons. Over the period under review, imports, however, continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, ferro-chromium imports dropped sharply to $X in 2023. In general, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

South Africa was the main importing country with an import of around X tons, which reached X% of total imports. Mauritius (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Zambia (X%) and Democratic Republic of the Congo (X%). Malawi (X tons) held a little share of total imports.

Imports into South Africa increased at an average annual rate of X% from 2012 to 2023. At the same time, Mauritius (X%), Malawi (X%) and Democratic Republic of the Congo (X%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2023. By contrast, Zambia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Mauritius, South Africa, Democratic Republic of the Congo and Malawi increased by X, X, X and X percentage points, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported ferro-chromium in SADC, comprising X% of total imports. The second position in the ranking was held by Zambia ($X), with a X% share of total imports. It was followed by Democratic Republic of the Congo, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Zambia (X% per year) and Democratic Republic of the Congo (X% per year).

Import Prices by Country

In 2023, the import price in SADC amounted to $X per ton, picking up by X% against the previous year. Import price indicated noticeable growth from 2012 to 2023: its price 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, ferro-chromium import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Africa ($X per ton), while Mauritius ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform