Asia: Chrome Ore Market Overview 2020

Chrome Ore Market Size in Asia

The revenue of the chrome ore market in Asia amounted to $X in 2017, increasing by X% against the previous year. The total market indicated a strong growth from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the chrome ore consumption increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2017, with an increase of X% year-to-year. In that year, the chrome ore market reached their peak level, and is likely to continue its growth in the immediate term.

Chrome Ore Production in Asia

The chrome ore production stood at X tonnes in 2017, surging by X% against the previous year. The total output indicated a notable expansion from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the chrome ore production increased by +X% against 2010 indices. The most prominent rate of growth was recorded in 2010, when the output figure increased by X% y-o-y. The volume of chrome ore production peaked in 2017, and is expected to retain its growth in the near future.

Chrome Ore Exports

Exports in Asia

The exports amounted to X tonnes in 2017, picking up by X% against the previous year. The chrome ore exports continue to indicate a temperate decline. The pace of growth was the most pronounced in 2017, when it surged by X% y-o-y. The volume of exports peaked of X tonnes in 2008; however, from 2009 to 2017, it failed to regain its momentum.

In value terms, chrome ore exports amounted to $X in 2017. The chrome ore exports continue to indicate a mild deduction. Over the period under review, the chrome ore exports attained its maximum level of $X in 2008; however, from 2009 to 2017, it failed to regain its momentum.

Exports by Country

Turkey (X tonnes) and Kazakhstan (X tonnes) were the main exporters of chromium ores and concentrates in 2017, resulting at approx. X% and X% of total exports, respectively. Pakistan (X tonnes) occupied the second position in the ranking, followed by Iran (X tonnes). All these countries together held near X% share of total exports. Oman (X tonnes), the United Arab Emirates (X tonnes) and India (X tonnes) held the slight share of total exports.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by the United Arab Emirates (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Kazakhstan ($X) and Pakistan ($X) appeared to be the countries with the highest levels of exports in 2017, together accounting for X% of total exports. Iran, Oman, the United Arab Emirates and India lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, the United Arab Emirates (+X% per year) experienced the highest rates of growth with regard to exports, over the last decade, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The chrome ore export price in Asia stood at $X per tonne in 2017, rising by X% against the previous year. Over the period from 2007 to 2017, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2008, when the export prices increased by X% y-o-y. In that year, the export prices for chromium ores and concentrates attained their peak level of $X per tonne. From 2009 to 2017, growth of the export prices for chromium ores and concentrates failed to regain its momentum.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was Iran ($X per tonne), while Kazakhstan ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Oman (+X% per year), while the other leaders experienced more modest paces of growth.

Chrome Ore Imports

Imports in Asia

In 2017, approx. X tonnes of chromium ores and concentrates were imported in Asia; jumping by X% against the previous year. The total imports indicated a prominent expansion from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the chrome ore imports decreased by -X% against 2013 indices. The most prominent rate of growth was recorded in 2008, with an increase of X% against the previous year. The volume of imports peaked of X tonnes in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

In value terms, chrome ore imports amounted to $X in 2017. The chrome ore imports continue to indicate a relatively flat trend pattern. The level of imports peaked of $X in 2008; however, from 2009 to 2017, it stood at a somewhat lower level.

Imports by Country

China prevails in chrome ore imports structure, resulting at X tonnes, which was approx. X% of total imports in 2017. The following importers - India (X tonnes), the United Arab Emirates (X tonnes) and Turkey (X tonnes) each resulted at a X% share of total imports.

Imports into China increased at an average annual rate of +X% from 2007 to 2017. At the same time, India (+X%), Turkey (+X%) and the United Arab Emirates (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest growing importer in Asia, with a CAGR of +X% from 2007-2017. From 2007 to 2017, the share of China decreased by -X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported chromium ores and concentrates in Asia, making up X% of global imports. The second position in the ranking was occupied by Turkey ($X), with a X% share of global imports. It was followed by India, with a X% share.

In China, chrome ore imports remained relatively stable over the period from 2007-2017. In the other countries, the average annual rates were as follows: Turkey (+X% per year) and India (+X% per year).

Import Prices by Country

The chrome ore import price in Asia stood at $X per tonne in 2017, remaining relatively unchanged against the previous year. The chrome ore import price continues to indicate a deep shrinkage. The pace of growth was the most pronounced in 2010, an increase of X% against the previous year. The level of import price peaked of $X per tonne in 2008; however, from 2009 to 2017, it failed to regain its momentum.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was Turkey ($X per tonne), while China ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by the United Arab Emirates (+X% per year), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox AI Platform