Austria: Pig Iron Market 2022

Pig Iron Market Size in Austria

In 2021, the Austrian pig iron market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a mild downturn. Pig iron consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Pig Iron Production in Austria

In value terms, pig iron production stood at $X in 2021 estimated in export price. Overall, production, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by 25%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Pig Iron Exports

Exports from Austria

In 2021, overseas shipments of pig iron and spiegeleisen increased by 500% to X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 642%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, pig iron exports surged to $X in 2021. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2013 when exports increased by 824%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for pig iron exports from Austria, with a 75% share of total exports. Moreover, pig iron exports to Italy exceeded the volume sent to the second major destination, Germany (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Italy totaled +75.9%.

In value terms, Germany ($X) remains the key foreign market for pig iron exports from Austria, comprising 89% of total exports. The second position in the ranking was taken by Italy ($X), with a 7.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +22.9%.

Export Prices by Country

The average pig iron export price stood at $X per ton in 2021, declining by -70.5% against the previous year. In general, the export price, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 163%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Italy totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+22.0%), while the prices for the other major destinations experienced mixed trend patterns.

Pig Iron Imports

Imports into Austria

In 2021, the amount of pig iron and spiegeleisen imported into Austria contracted dramatically to X tons, shrinking by -33.3% against the year before. In general, imports saw a pronounced curtailment. The pace of growth was the most pronounced in 2015 when imports increased by 214% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, pig iron imports dropped modestly to $X in 2021. Overall, imports showed a noticeable contraction. The pace of growth was the most pronounced in 2015 with an increase of 116% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Italy (X tons), Germany (X tons) and the Czech Republic (X tons) were the main suppliers of pig iron imports to Austria, with a combined 98% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +17.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), Germany ($X) and the Czech Republic ($X) appeared to be the largest pig iron suppliers to Austria, with a combined 98% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +15.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average pig iron import price amounted to $X per ton, increasing by 43% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 55%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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