Pig Iron Market

Pig iron market: get the latest info powered by an Ai-driven business intelligence platform. Info include exports, market size, trade, imports, companies, market prices, consumption, and production. Here is a split by country, including the Middle East, Latin America, Africa, Russia, China, the U.S., the U.K., and EU. Market insights and forecast to 2030 are also featured in the reports.

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Pig Iron - World's Largest Markets

Rating	Country
1	China
2	South Korea
3	Russia
4	India
5	Turkey

In value terms, China led the market, alone. The second position in the ranking was occupied by South Korea. It was followed by Russia.

In China, the pig iron market increased at an average annual rate of +3.8% over the period from 2018-2020. In the other countries, the average annual rates were as follows: South Korea (+5.2% per year) and Russia (-4.3% per year).

Pig Iron Prices

Lowest Prices - FOB - Top Exporters

COUNTRY	2018	2019	2020	CAGR, 2018-2020
COUNTRY	USD per ton			CAGR, 2018-2020
Venezuela	174	152	133	-12.6%
South Africa	391	431	290	-13.9%
Ukraine	350	372	297	-7.9%
Brazil	392	414	302	-12.2%
Russia	373	339	312	-8.5%
Japan	513	435	313	-21.9%
India	384	340	315	-9.4%
Germany	448	425	358	-10.6%
Netherlands	472	439	480	0.8%
Indonesia	1160	658	577	-29.5%
Average	372	369	316	-7.9%

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Indonesia ($577 per ton), while Venezuela ($133 per ton) was amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other global leaders experienced a decline in the export price figures.

Highest Prices - CIF - Top Importers

COUNTRY	2018	2019	2020	CAGR, 2018-2020
COUNTRY	USD per ton			CAGR, 2018-2020
Saudi Arabia	512	458	415	-10.0%
Netherlands	398	398	415	2.1%
China	556	558	369	-18.5%
Germany	428	417	364	-7.8%
United States	415	372	348	-8.4%
Turkey	391	357	327	-8.5%
Italy	383	341	325	-7.9%
Mexico	335	346	241	-15.2%
Average	408	378	358	-6.3%

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Saudi Arabia ($415 per ton), while Mexico ($241 per ton) was amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other global leaders experienced a decline in the import price figures.

Pig Iron - Top Importers

COUNTRY	2018	2019	2020	CAGR, 2018-2020
COUNTRY	billion USD			CAGR, 2018-2020
China	0.05	0.04	2	542.3%
United States	2.5	1.9	1.6	-20.8%
Turkey	0.5	0.4	0.4	-14.8%
Italy	0.7	0.5	0.4	-26.3%
Netherlands	0.2	0.2	0.2	-8.6%

In value terms, China ($2B), the United States ($1.6B) and Turkey ($370M) were the countries with the highest levels of imports in 2020, with a combined 71% share of global imports.

In terms of the main importing countries, China (+542.3% per year) saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced mixed trends in the imports figures.

Pig Iron - Top Exporters

COUNTRY	2018	2019	2020	CAGR, 2018-2020
COUNTRY	billion USD			CAGR, 2018-2020
Russia	2.2	1.4	1.3	-22.1%
Brazil	0.8	1	1.1	22.7%
Ukraine	1.1	1	0.9	-6.4%
Netherlands	0.05	0.05	0.2	90.8%
Japan	0.01	0.02	0.2	251.0%

In value terms, the largest pig iron supplying countries worldwide were Russia ($1.3B), Brazil ($1.1B) and Ukraine ($922M), with a combined 71% share of global exports. These countries were followed by the Netherlands, Japan, Indonesia, India, South Africa, Germany and Venezuela, which together accounted for a further 20%.

Among the main exporting countries, Japan (+251.0% per year) saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Pig Iron - Market Forecast

Driven by increasing demand for pig iron worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.

Pig Iron - Top Companies

Dongguan Dazhou Iron & Steel Co., Ltd., NIPPON STEEL & SUMITOMO METAL CORPORATION, Baoshan Iron & Steel Co., Ltd., Shougang Group Corporation, JFE STEEL CORPORATION, TATA STEEL LIMITED, Nucor Corporation, Hyundai Steel Company, KOBE STEEL, LTD., Hesteel Company Limited, Jiangsu Shagang Group Co., Ltd., Wugang Group Co., Ltd., Shandong Iron & Steel Group Co., Ltd., Jiuquan Iron And Steel (Group) Co., Ltd., Angang Steel Company Limited, United States Steel Corp, CHINA STEEL CORPORATION, Hunan Valin Iron & Steel Group Co., Ltd., Maanshan Iron & Steel Company Limited, Anshan Iron and Steel Group Co., Ltd.