Ferro-Alloys Price in India Sees Slight Growth to $1,186 per Ton, Experiencing Strong Fluctuations over 2022

India Ferro-Alloys Export Price in November 2022

In November 2022, the ferro-alloys price stood at $1,186 per ton (FOB, India), with an increase of 4.1% against the previous month. Overall, the export price, however, saw a perceptible decrease. The growth pace was the most rapid in April 2022 when the average export price increased by 9.3% m-o-m. As a result, the export price attained the peak level of $1,658 per ton. From May 2022 to November 2022, the the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Canada ($1,783 per ton), while the average price for exports to Italy ($1,002 per ton) was amongst the lowest.

From January 2022 to November 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1.5%), while the prices for the other major destinations experienced mixed trend patterns.

India Ferro-Alloys Export Prices by Type

There were significant differences in the average prices for the major types of exported product. In November 2022, the product with the highest price was ferro-molybdenum ($28,933 per ton), while the average price for exports of ferro-silico-manganese ($1,061 per ton) was amongst the lowest.

From January 2022 to November 2022, the most notable rate of growth in terms of prices was recorded for the following types: ferro-titanium and ferro-silico-titanium (-0.0%), while the prices for the other products experienced a decline.

India Ferro-Alloys Exports

In November 2022, approximately 181K tons of ferro-alloys were exported from India; falling by -9.6% on October 2022 figures. Overall, exports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in October 2022 with an increase of 27% month-to-month. The exports peaked at 259K tons in February 2022; however, from March 2022 to November 2022, the exports stood at a somewhat lower figure.

In value terms, ferro-alloys exports contracted to $215M (IndexBox estimates) in November 2022. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in October 2022 with an increase of 20% m-o-m. Over the period under review, the exports hit record highs at 418K tons in April 2022; however, from May 2022 to November 2022, the exports remained at a lower figure.

India Ferro-Alloys Exports by Type

Ferro-silico-manganese (85K tons), ferro-chromium (53K tons) and ferro-manganese (40K tons) were the main products of ferro-alloys exports from India, with a combined 98% share of total exports. These products were followed by ferro-silicon, miscellaneous ferro-alloys, ferro-molybdenum and ferro-titanium and ferro-silico-titanium, which together accounted for a further 1.6%.

From January 2022 to November 2022, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by ferro-molybdenum (with a CAGR of +57.5%), while the other products experienced mixed trend patterns.

In value terms, ferro-silico-manganese ($90M), ferro-chromium ($69M) and ferro-manganese ($47M) were the most exported types of ferro-alloys from India worldwide, with a combined 96% share of total exports. Ferro-silicon, ferro-molybdenum, miscellaneous ferro-alloys and ferro-titanium and ferro-silico-titanium lagged somewhat behind, together accounting for a further 4.3%.

Ferro-molybdenum, with a CAGR of +50.3%, recorded the highest rates of growth with regard to the value of exports, among the main product categories over the period under review, while shipments for the other products experienced a decline.

India Ferro-Alloys Exports by Country

China (31K tons), Italy (18K tons) and Japan (15K tons) were the main destinations of ferro-alloys exports from India, together accounting for 35% of total exports. These countries were followed by the United Arab Emirates, the United States, Egypt, Taiwan (Chinese), Canada, Malaysia, Turkey, the Netherlands, Saudi Arabia and Thailand, which together accounted for a further 42%.

From January 2022 to November 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +15.0%), while the other leaders experienced more modest paces of growth.

In value terms, China ($37M) emerged as the key foreign market for ferro-alloys exports from India, comprising 17% of total exports. The second position in the ranking was taken by Italy ($18M), with an 8.5% share of total exports. It was followed by the United Arab Emirates, with an 8.5% share.

From January 2022 to November 2022, the average monthly growth rate of value to China stood at -1.9%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Italy (-1.7% per month) and the United Arab Emirates (-9.6% per month).

Ferro-Alloys Prices Fluctuate in India as Demand Grows Across Industries

The price of ferro-alloys in India has grown slightly in 2022. However, the price has also been fluctuating wildly as demand and supply continue to play tug-of-war. The price hike is largely due to the increased demand for ferro-alloys across multiple industries such as steel and construction. India has a high demand for ferro-alloys due to its rapidly growing economy.

The Indian ferro-alloys market is highly competitive, with several local and international players vying for a larger market share. The fluctuating prices and intense competition make it essential for businesses to have a sharper focus on operational efficiency and cost control.

Despite the challenges, the Indian ferro-alloys market has immense growth potential. As the country's economy continues to grow, so does the demand for ferro-alloys. This presents an opportunity for businesses to enter the market and capitalize on the growing demand.

Source: IndexBox Market Intelligence Platform