Slovakia: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Slovakia

After two years of growth, the Slovak ferro-chromium market decreased by X% to $X in 2023. In general, consumption, however, enjoyed prominent growth. Over the period under review, the market reached the maximum level at $X in 2022, and then reduced slightly in the following year.

Ferro-Chromium Production in Slovakia

In value terms, ferro-chromium production expanded slightly to $X in 2023 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Ferro-chromium production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Ferro-Chromium Exports

Exports from Slovakia

In 2023, after two 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 continue to indicate a sharp setback. 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 hit record highs at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, ferro-chromium exports declined markedly to $X in 2023. In general, exports recorded a sharp setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for ferro-chromium exports from Slovakia, with a X% share of total exports. Moreover, ferro-chromium exports to Romania exceeded the volume sent to the second major destination, Germany (X tons), sevenfold. The Czech Republic (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Romania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the Czech Republic (X% per year).

In value terms, Romania ($X) remains the key foreign market for ferro-chromium exports from Slovakia, comprising X% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Romania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (X% per year) and Germany (X% per year).

Export Prices by Country

In 2023, the average ferro-chromium export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price continues to indicate a slight descent. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2022, and then fell sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Chromium Imports

Imports into Slovakia

In 2023, overseas purchases of ferro-chromium decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, imports recorded a deep setback. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, ferro-chromium imports fell markedly to $X in 2023. Over the period under review, imports showed a pronounced curtailment. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2023, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), the Czech Republic (X tons) and Germany (X tons) were the main suppliers of ferro-chromium imports to Slovakia, together accounting for X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Germany (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ferro-chromium suppliers to Slovakia were the Czech Republic ($X), Germany ($X) and the Netherlands ($X), with a combined X% share of total imports.

Germany, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average ferro-chromium import price stood at $X per ton in 2023, surging by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2023.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform