Price for Iron Oxides and Hydroxides in Turkey - 2023
Contents:
- Price for Iron Oxides and Hydroxides in Turkey (CIF) - 2023
- Price for Iron Oxides and Hydroxides in Turkey (FOB) - 2022
- Imports of Iron Oxides and Hydroxides in Turkey
- Exports of Iron Oxides and Hydroxides in Turkey
Price for Iron Oxides and Hydroxides in Turkey (CIF) - 2023
In September 2023, the average iron oxides and hydroxides import price amounted to $1,460 per ton, growing by 10% against the previous month. Over the period under review, the import price, however, recorded a pronounced reduction. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 14% m-o-m. The import price peaked at $2,062 per ton in November 2022; however, from December 2022 to September 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($1,898 per ton), while the price for Spain ($539 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Spain (+1.1%), while the prices for the other major suppliers experienced a decline.
Price for Iron Oxides and Hydroxides in Turkey (FOB) - 2022
The average iron oxides and hydroxides export price stood at $351 per ton in 2022, increasing by 15% against the previous year. Overall, the export price continues to indicate a modest increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 62% against the previous year. The export price peaked at $509 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($1,216 per ton), while the average price for exports to China ($209 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron Oxides and Hydroxides in Turkey
In 2022, after three years of growth, there was significant decline in purchases abroad of iron oxides and hydroxideses, when their volume decreased by -19.6% to 9.1K tons. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 16%.
In value terms, iron oxides and hydroxides imports shrank modestly to $17M in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +13.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 32% against the previous year. As a result, imports reached the peak of $17M, leveling off in the following year.
| Import of Iron Oxides and Hydroxides in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.9 | 4.7 | 8.3 | 7.7 | 16.3% |
| Germany | 4.8 | 5.9 | 6.6 | 7.2 | 14.5% |
| Spain | 0.2 | 0.3 | 0.2 | 0.3 | 14.5% |
| Others | 1.7 | 2.0 | 2.0 | 1.6 | -2.0% |
| Total | 11.6 | 12.9 | 17.0 | 16.9 | 13.4% |
Top Suppliers of Iron Oxides and Hydroxides to Turkey in 2022:
- China (4.9K tons)
- Germany (3.1K tons)
- Spain (0.5K tons)
Exports of Iron Oxides and Hydroxides in Turkey
Iron oxides and hydroxides exports from Turkey expanded rapidly to 9.5K tons in 2022, with an increase of 6.9% compared with 2021. In general, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 215% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, iron oxides and hydroxides exports skyrocketed to $3.3M in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 214%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Export of Iron Oxides and Hydroxides in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 592 | 110 | 1,201 | 1,546 | 37.7% |
| United States | 5.8 | N/A | 319 | 352 | 293.0% |
| Spain | 67.3 | 158 | 169 | 162 | 34.0% |
| Bulgaria | 26.2 | 36.5 | 152 | 84.5 | 47.7% |
| Others | 534 | 556 | 863 | 1,189 | 30.6% |
| Total | 1,226 | 861 | 2,704 | 3,334 | 39.6% |
Top Export Markets for Iron Oxides and Hydroxides from Turkey in 2022:
- China (7.4K tons)
- Spain (0.8K tons)
- United States (0.3K tons)
- Bulgaria (0.2K tons)
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