SADC: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in SADC

The SADC ferro-chromium market declined remarkably to $X in 2023, waning by X% against the previous year. In general, consumption continues to indicate a deep reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Ferro-Chromium Production in SADC

In value terms, ferro-chromium production dropped to $X in 2023 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. The level of production peaked at $X in 2022, and then fell slightly in the following year.

Ferro-Chromium Exports

Exports in SADC

Ferro-chromium exports skyrocketed to X tons in 2023, jumping by X% against the previous year. The total export volume 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 appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons; afterwards, it flattened through to 2023.

In value terms, ferro-chromium exports soared to $X in 2023. Total exports indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to continue growth in years to come.

Exports by Country

South Africa prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Zimbabwe (X tons), achieving a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to ferro-chromium exports from South Africa stood at X%. At the same time, Zimbabwe (X%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2023. While the share of Zimbabwe (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of South Africa (X p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest ferro-chromium supplier in SADC, comprising X% of total exports. The second position in the ranking was held by Zimbabwe ($X), with an X% share of total exports.

In South Africa, ferro-chromium exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in SADC stood at $X per ton in 2023, approximately reflecting the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then shrank slightly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Zimbabwe totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%).

Ferro-Chromium Imports

Imports in SADC

After two years of growth, purchases abroad of ferro-chromium decreased by X% to X tons in 2023. In general, imports, however, recorded a measured increase. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, ferro-chromium imports fell markedly to $X in 2023. Overall, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, South Africa (X tons) was the key importer of ferro-chromium, creating X% of total imports. It was distantly followed by Mauritius (X tons), Zambia (X tons) and Democratic Republic of the Congo (X tons), together committing a X% share of total imports. Malawi (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to ferro-chromium imports into South Africa stood at X%. At the same time, Mauritius (X%), Malawi (X%) and Democratic Republic of the Congo (X%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2023. By contrast, Zambia (X%) illustrated a downward trend over the same period. Mauritius (X p.p.), South Africa (X p.p.), Democratic Republic of the Congo (X p.p.) and Malawi (X p.p.) significantly strengthened its position in terms of the total imports, while Zambia saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported ferro-chromium in SADC, comprising X% of total imports. The second position in the ranking was taken by Zambia ($X), with a X% share of total imports. It was followed by Democratic Republic of the Congo, with a X% share.

In South Africa, 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: Zambia (X% per year) and Democratic Republic of the Congo (X% per year).

Import Prices by Country

In 2023, the import price in SADC amounted to $X per ton, rising by X% against the previous year. Import price indicated a perceptible increase 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 import price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2023 and is likely to continue growth in years to come.

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 South Africa ($X per ton), while Mauritius ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform