Bulgaria: Ferro-Manganese Market 2022

Ferro-Manganese Market Size in Bulgaria

The Bulgarian ferro-manganese market rose remarkably to $X in 2021, with an increase of 13% against the previous year. Overall, consumption, however, showed a abrupt descent. Ferro-manganese consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Ferro-Manganese Production in Bulgaria

In value terms, ferro-manganese production declined rapidly to $X in 2021 estimated in export price. Over the period under review, production recorded a dramatic decline. As a result, production attained the peak level of $X, and then dropped markedly in the following year.

Ferro-Manganese Exports

Exports from Bulgaria

In 2019, ferro-manganese exports from Bulgaria totaled X tons, remaining constant against the previous year. Over the period under review, exports showed a dramatic slump. The pace of growth was the most pronounced in 2013 with an increase of 532%. As a result, the exports reached the peak of X tons. From 2014 to 2019, the growth of the exports remained at a lower figure.

In value terms, ferro-manganese exports totaled $X in 2019. In general, exports saw a dramatic setback. The pace of growth was the most pronounced in 2013 with an increase of 644%. As a result, the exports attained the peak of $X. From 2014 to 2019, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for ferro-manganese exports from Bulgaria, accounting for a 61% share of total exports. Moreover, ferro-manganese exports to Italy exceeded the volume sent to the second major destination, Ukraine (X tons), threefold. The third position in this ranking was taken by Greece (X tons), with a 14% share.

From 2012 to 2019, the average annual growth rate of volume to Italy was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+19.2% per year) and Greece (-24.0% per year).

It was followed by Greece, with a 6.9% share.

From 2012 to 2019, the average annual rate of growth in terms of value to Italy was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+11.9% per year) and Greece (-32.5% per year).

Export Prices by Country

The average ferro-manganese export price stood at $X per ton in 2019, approximately mirroring the previous year. Over the period under review, the export price continues to indicate a slight decline. The growth pace was the most rapid in 2017 when the average export price increased by 34%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2019, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Romania ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (-2.9%), while the prices for the other major destinations experienced a decline.

Ferro-Manganese Imports

Imports into Bulgaria

In 2021, imports of ferro-manganese into Bulgaria totaled X tons, approximately equating the previous year's figure. Overall, imports saw a sharp decline. The pace of growth was the most pronounced in 2019 with an increase of 19%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, ferro-manganese imports stood at $X in 2021. Over the period under review, imports saw a sharp shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 74% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) constituted the largest ferro-manganese supplier to Bulgaria, accounting for a 49% share of total imports. Moreover, ferro-manganese imports from Italy exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold. Slovenia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Italy totaled +127.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (0.0% per year) and Slovenia (-2.6% per year).

In value terms, Italy ($X) constituted the largest supplier of ferro-manganese to Bulgaria, comprising 46% of total imports. The second position in the ranking was taken by Slovenia ($X), with a 14% share of total imports. It was followed by Poland, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled +66.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+1.1% per year) and Poland (-16.7% per year).

Import Prices by Country

In 2021, the average ferro-manganese import price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the import price continues to indicate mild growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 72%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per ton), while the price for North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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