Ferro-Alloys; Ferro-Vanadium Price in South Africa - 2023
Contents:
- Ferro-Alloys; Ferro-Vanadium Price in South Africa (FOB) - 2023
- Ferro-Alloys; Ferro-Vanadium Price in South Africa (CIF) - 2022
- Ferro-Alloys; Ferro-Vanadium Exports in South Africa
- Ferro-Alloys; Ferro-Vanadium Imports in South Africa
Ferro-Alloys; Ferro-Vanadium Price in South Africa (FOB) - 2023
In July 2023, the average ferro-alloys; ferro-vanadium export price amounted to $25,211 per ton, which is down by -4.6% against the previous month. In general, the export price showed a slight slump. The growth pace was the most rapid in January 2023 when the average export price increased by 25% month-to-month. The export price peaked at $33,760 per ton in April 2023; however, from May 2023 to July 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($27,089 per ton), while the average price for exports to Brazil ($17,406 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+0.9%), while the prices for the other major destinations experienced mixed trend patterns.
Ferro-Alloys; Ferro-Vanadium Price in South Africa (CIF) - 2022
In 2022, the average ferro-alloys; ferro-vanadium import price amounted to $16,085 per ton, declining by -77.3% against the previous year. Overall, the import price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 153% against the previous year. Over the period under review, average import prices hit record highs at $77,345 per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Slovakia ($19,186 per ton), while the price for Denmark ($3,635 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.0%), while the prices for the other major suppliers experienced a decline.
Ferro-Alloys; Ferro-Vanadium Exports in South Africa
In 2022, the amount of ferro-alloys; ferro-vanadia exported from South Africa surged to 5K tons, rising by 59% on the year before. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +19.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.7% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, ferro-alloys; ferro-vanadium exports soared to $161M in 2022. Overall, exports showed a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Ferro-Alloys; Ferro-Vanadium in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 51.9 | 48.2 | 39.8 | 129 | 35.5% |
| Japan | 28.7 | 2.0 | 3.2 | 6.5 | -39.0% |
| Mexico | 13.2 | 1.5 | 4.3 | 5.0 | -27.6% |
| Sweden | N/A | N/A | 9.1 | 4.2 | -53.8% |
| Argentina | 0.5 | 0.4 | 2.2 | 4.0 | 100.0% |
| Brazil | 2.2 | 1.8 | 2.3 | 3.0 | 10.9% |
| Canada | N/A | 1.9 | 3.0 | 0.6 | -43.8% |
| South Korea | N/A | 2.1 | 9.2 | N/A | 338.1% |
| Others | 4.0 | 6.5 | 9.3 | 8.8 | 30.1% |
| Total | 101 | 64.3 | 82.4 | 161 | 16.8% |
Top Export Markets for Ferro-Alloys; Ferro-Vanadium from South Africa in 2022:
- Netherlands (3911.8 tons)
- Japan (246.6 tons)
- Mexico (162.9 tons)
- Sweden (162.9 tons)
- Argentina (122.2 tons)
- Brazil (112.0 tons)
- Canada (18.3 tons)
Ferro-Alloys; Ferro-Vanadium Imports in South Africa
In 2022, the amount of ferro-alloys; ferro-vanadia imported into South Africa skyrocketed to 9 tons, with an increase of 338% against the year before. In general, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, ferro-alloys; ferro-vanadium imports reduced slightly to $144K in 2022. Over the period under review, imports, however, saw a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 882% against the previous year.
| Import of Ferro-Alloys; Ferro-Vanadium in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Slovakia | N/A | N/A | N/A | 138 | 0% |
| Denmark | N/A | N/A | N/A | 6.5 | 0% |
| South Korea | 227 | N/A | N/A | N/A | 0% |
| Sweden | 47.9 | 14.3 | 144 | N/A | 73.4% |
| Others | 0.3 | 0.5 | 0.9 | N/A | 73.2% |
| Total | 275 | 14.8 | 145 | 144 | -19.4% |
Top Suppliers of Ferro-Alloys; Ferro-Vanadium to South Africa in 2022:
- Slovakia (7.2 tons)
- Denmark (1.8 tons)
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China dominates the world market for ferro-alloys, importing a staggering $9.8 billion worth of these alloys in 2022. The United States, Japan, Indonesia, Germany, the Netherlands, Italy, South Korea, Turkey, and India are also major importers of ferro-alloys, driven by their respective manufacturing sectors and domestic consumption.
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The conflict between Russia and Ukraine has had a significant impact on the ferroalloy industry. The main producing regions of ferroalloys are located in Eastern Europe, which has been affected by the conflict.
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Throughout January-September 2021, global ferroalloy trade totalled $11.8B, increasing by +36% compared to the same period last year. This spike was caused by growing prices, as imports in physical terms remained nearly unchanged against the previous year’s figures. China tops the ferroalloy importer ranking with 29% of the total value, followed by Japan and the U.S. The average ferroalloy import price in September 2021 was estimated at $2.5 per kg, a 56%-increase compared to those of September 2020.
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