China - Pig Iron And Spiegeleisen - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
China’s Pig Iron Imports Rise Sharply to $2B
IndexBox has just published a new report: 'China - Pig Iron And Spiegeleisen - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
Last year, China rapidly boosted pig iron imports from $376M to $2B. In physical terms, purchases grew from 988K tonnes to 5.6M tonnes. Brazil, Russia and Ukraine became the largest pig iron suppliers to China, accounting for 73% of total import volume. Shipments from Brazil spiked from 8.8K tonnes in 2019 to 2.1M tonnes in 2020, while Russian supplies grew from 34K tonnes to 1.4M tonnes. The average import price for pig iron dropped by -3.8% y-o-y to $366 per tonne in 2020.
China’s Imports of Pig Iron and Spiegeleisen
In 2020, pig iron and spiegeleisen imports into China surged from 988K tonnes in 2019 to 5.6M tonnes in 2020. In value terms, pig iron imports soared from $376M to $2B (IndexBox estimates) in 2020.
Brazil (2.1M tonnes), Russia (1.4M tonnes) and Ukraine (572K tonnes) were the leading suppliers of pig iron to China, with a combined 73% share of total imports. These countries were followed by India, Japan, Indonesia and Kazakhstan, which together accounted for a further 25%.
Supplies from Brazil grew from 8.8K tonnes in 2019 to 2.1M tonnes in 2020. Imports from Russia increased from 34K tonnes to 1.4M tonnes over the same period. The other significant supplying countries also experienced skyrocketing growth in shipments to China.
In value terms, the largest pig iron suppliers to China were Brazil ($739M), Russia ($508M) and Ukraine ($201M), with a combined 71% share of total imports. Indonesia, India, Japan and Kazakhstan lagged somewhat behind, together comprising a further 26%.
The average pig iron import price stood at $366 per tonne in 2020, waning by -3.8% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Indonesia ($602 per tonne), while the price for Kazakhstan ($264 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Ukraine, while the prices for the other significant suppliers experienced mixed trend patterns.
Source: IndexBox Platform
This report provides an in-depth analysis of the pig iron market in China. 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 2025.
Making Data-Driven Decisions to Grow Your Business
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Understanding the Current State of The Market and Its Prospects
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The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
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