Eastern Asia: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Eastern Asia

The East Asian ferro-chromium market totaled $X in 2023, increasing by X% against the previous year. The total consumption indicated a buoyant 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, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2023, consumption failed to regain momentum.

Ferro-Chromium Production in Eastern Asia

In value terms, ferro-chromium production totaled $X in 2023 estimated in export price. The total production indicated a prominent 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, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2023, production remained at a lower figure.

Ferro-Chromium Exports

Exports in Eastern Asia

In 2023, after three years of growth, there was significant decline in shipments abroad of ferro-chromium, when their volume decreased by X% to X tons. Over the period under review, exports, however, enjoyed a moderate expansion. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, ferro-chromium exports contracted to $X in 2023. In general, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports hit record highs 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) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to ferro-chromium exports from China stood at X%. 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. China (X p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by X% from 2012 to 2023, respectively. 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 a 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. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, jumping by X% against the previous year. Export price indicated moderate growth 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 most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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

In 2023, the amount of ferro-chromium imported in Eastern Asia surged to X tons, picking up by X% against the previous year. The total import volume 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. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, ferro-chromium imports expanded significantly to $X in 2023. The total import value 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 2017 when imports increased by X%. Over the period under review, imports attained the maximum in 2023 and are likely to see gradual growth in the near future.

Imports by Country

In 2023, China (X tons) was the key importer of ferro-chromium, mixing up X% of total imports. It was distantly followed by Japan (X tons) and South Korea (X tons), together comprising a X% share of total imports. Taiwan (Chinese) (X tons) took a minor 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. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of South Korea (X p.p.), Taiwan (Chinese) (X p.p.) and Japan (X p.p.) displayed negative dynamics.

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.

In China, ferro-chromium imports increased at an average annual rate of X% over the period from 2012-2023. 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, shrinking by X% against the previous year. Over the period under review, 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%. The level of import peaked at $X per ton in 2022, and then shrank in the following year.

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 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