Turkey - Ferro-Silicon - Market Analysis, Forecast, Size, Trends And Insights
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View PricingFerro-silicon Import to Turkey Drops to $15M in July 2023
Turkey Ferrosilicon Imports
In July 2023, purchases abroad of ferro-silicon decreased by -5.3% to 10K tons, falling for the second month in a row after three months of growth. Over the period under review, imports showed a pronounced reduction. The most prominent rate of growth was recorded in November 2022 with an increase of 112% against the previous month.
In value terms, ferro-silicon imports dropped to $15M (IndexBox estimates) in July 2023. Overall, imports showed a abrupt setback. The most prominent rate of growth was recorded in November 2022 when imports increased by 102% m-o-m.
Ferrosilicon Imports By Country (Million USD)">
| COUNTRY | Import Value of Ferrosilicon in Turkey (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | |
| Russia | 7.7 | 3.1 | 2.1 | 1.5 | 5.8 | 1.6 | 3.9 | N/A | 3.8 | 2.3 | 4.8 | 5.6 | 7.3 |
| Iran | 0.8 | 0.6 | 1.9 | 3.1 | 3.0 | 3.4 | 4.6 | 3.8 | 4.1 | 2.8 | 3.5 | 3.9 | 3.2 |
| China | 27.1 | 4.7 | 1.5 | 2.6 | 6.8 | 8.8 | 4.8 | 2.4 | 0.4 | 0.8 | 2.8 | 1.3 | 1.7 |
| Norway | 4.2 | 2.0 | 0.9 | 1.8 | 1.9 | 1.0 | 0.8 | 1.4 | 3.0 | 4.2 | 4.7 | 2.5 | 1.4 |
| Kazakhstan | 1.9 | 0.2 | 0.8 | 0.8 | 1.3 | 2.1 | 4.3 | 1.0 | 2.1 | 3.7 | 3.6 | 2.3 | 0.2 |
| Others | 3.2 | 3.8 | 1.1 | 0.9 | 2.6 | 3.6 | 3.0 | 1.1 | 2.6 | 4.9 | 3.8 | 1.3 | 1.6 |
| Total | 45.0 | 14.4 | 8.4 | 10.6 | 21.4 | 20.5 | 21.2 | 9.7 | 16.1 | 18.7 | 23.1 | 16.9 | 15.4 |
Imports by Country
Russia (5.4K tons), Iran (2.8K tons) and China (909 tons) were the main suppliers of ferro-silicon imports to Turkey, together comprising 89% of total imports.
From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of +15.0%), while imports for the other leaders experienced mixed trend patterns.
In value terms, Russia ($7.3M) constituted the largest supplier of ferro-silicon to Turkey, comprising 47% of total imports. The second position in the ranking was held by Iran ($3.2M), with a 21% share of total imports. It was followed by China, with an 11% share.
From July 2022 to July 2023, the average monthly growth rate of value from Russia was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Iran (+12.7% per month) and China (-20.4% per month).
Imports by Type
In July 2023, ferro-alloys; ferro-silicon, containing by weight more than 55% of silicon (9.2K tons) was the main type of ferro-silicon supplied to Turkey, accounting for a 90% share of total imports. Moreover, ferro-alloys; ferro-silicon, containing by weight more than 55% of silicon exceeded the figures recorded for the second-largest type, ferro-alloys; ferro-silicon, containing by weight 55% or less of silicon (981 tons), ninefold.
From July 2022 to July 2023, the average monthly growth rate of the volume of import of ferro-alloys; ferro-silicon, containing by weight more than 55% of silicon amounted to -5.0%.
In value terms, ferro-alloys; ferro-silicon, containing by weight more than 55% of silicon ($13M) constituted the largest type of ferro-silicon supplied to Turkey, comprising 85% of total imports. The second position in the ranking was taken by ferro-alloys; ferro-silicon, containing by weight 55% or less of silicon ($2.2M), with a 15% share of total imports.
Import Prices by Country
In July 2023, the ferrosilicon price amounted to $1,514 per ton (CIF, Turkey), declining by -3.7% against the previous month. In general, the import price recorded a noticeable reduction. The pace of growth appeared the most rapid in April 2023 when the average import price increased by 8.5% against the previous month. The import price peaked at $2,484 per ton in August 2022; however, from September 2022 to July 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Norway ($3,676 per ton), while the price for Iran ($1,151 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Norway (-0.8%), while the prices for the other major suppliers experienced a decline.
This report provides an in-depth analysis of the ferro-silicon market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24101230 - Ferro-silicon
- Prodcom 24101235 -
- Prodcom 24101236 -
- Prodcom 24101239 -
Country coverage:
- Turkey
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Turkey
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
