Eastern Asia: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in Eastern Asia

The East Asian ferro-alloys market rose markedly to $X in 2023, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2023 and is likely to see steady growth in the immediate term.

Ferro-Alloys Production in Eastern Asia

In value terms, ferro-alloys production amounted to $X in 2023 estimated in export price. Overall, production, however, recorded a noticeable downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of production peaked at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Ferro-Alloys Exports

Exports in Eastern Asia

After two years of growth, shipments abroad of ferro-alloys decreased by X% to X tons in 2023. In general, exports showed a slight slump. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2022, and then fell remarkably in the following year.

In value terms, ferro-alloys exports fell dramatically to $X in 2023. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then declined sharply in the following year.

Exports by Country

China represented the major exporting country with an export of about X tons, which recorded X% of total exports. South Korea (X tons) took the second position in the ranking, distantly followed by Japan (X tons). All these countries together took approx. X% share of total exports. Democratic People's Republic of Korea (X tons) held a relatively small share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of ferro-alloys. At the same time, Democratic People's Republic of Korea (X%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, South Korea (X%) and Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Democratic People's Republic of Korea (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ferro-alloys supplying countries in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), with a combined X% share of total exports.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, which is down by X% against the previous year. Export price indicated a modest 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-alloys export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

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

Ferro-Alloys Imports

Imports in Eastern Asia

In 2023, approx. X tons of ferro-alloys were imported in Eastern Asia; increasing by X% compared with 2022 figures. Overall, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ferro-alloys imports totaled $X in 2023. Over the period under review, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the immediate term.

Imports by Country

China dominates imports structure, resulting at X tons, which was near X% of total imports in 2023. Japan (X tons) ranks second in terms of the total imports with an X% share, followed by South Korea (X%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the ferro-alloys imports, with a CAGR of X% from 2012 to 2023. South Korea experienced a relatively flat trend pattern. Taiwan (Chinese) (X%) and Japan (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), South Korea and Japan saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

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

From 2012 to 2023, the average annual growth rate of value in China stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: 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. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2022, and then shrank sharply in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform