Bulgaria: Pig Iron Market Overview 2020

Pig Iron Market Size in Bulgaria

In 2019, after two years of growth, there was significant decline in the Bulgarian pig iron market, when its value decreased by -X% to $X. Overall, consumption recorded a sharp reduction. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, the market reached the peak level at $X in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.

Pig Iron Exports

Exports from Bulgaria

In 2019, shipments abroad of pig iron and spiegeleisen decreased by -X% to X tonnes, falling for the second consecutive year after three years of growth. Overall, exports showed a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. Over the period under review, exports hit record highs at X tonnes in 2007; however, from 2008 to 2019, exports remained at a lower figure.

In value terms, pig iron exports reduced to $X in 2019. Over the period under review, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Over the period under review, exports hit record highs at $X in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Greece (X tonnes) was the main destination for pig iron exports from Bulgaria, accounting for a X% share of total exports. Moreover, pig iron exports to Greece exceeded the volume sent to the second major destination, Romania (X tonnes), more than tenfold.

From 2007 to 2019, the average annual growth rate of volume to Greece stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-X% per year) and Macedonia (+X% per year).

In value terms, Greece ($X) remains the key foreign market for pig iron exports from Bulgaria, comprising X% of total exports. The second position in the ranking was occupied by Romania ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to Greece stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-X% per year) and Macedonia (+X% per year).

Export Prices by Country

In 2019, the average pig iron export price amounted to $X per tonne, almost unchanged from the previous year. In general, the export price recorded a mild reduction. The most prominent rate of growth was recorded in 2011 an increase of X% year-to-year. As a result, export price attained the peak level of $X per tonne. From 2012 to 2019, the growth in terms of the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Macedonia ($X per tonne), while the average price for exports to Greece ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Romania, while the prices for the other major destinations experienced a decline.

Pig Iron Imports

Imports into Bulgaria

In 2019, imports of pig iron and spiegeleisen into Bulgaria dropped to X tonnes, declining by -X% on the previous year. Over the period under review, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tonnes in 2008; however, from 2009 to 2019, imports stood at a somewhat lower figure.

In value terms, pig iron imports dropped markedly to $X in 2019. Overall, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2008; however, from 2009 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Ukraine (X tonnes) constituted the largest supplier of pig iron to Bulgaria, accounting for a X% share of total imports. Moreover, pig iron imports from Ukraine exceeded the figures recorded by the second-largest supplier, Turkey (X tonnes), ninefold.

From 2007 to 2019, the average annual growth rate of volume from Ukraine stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+X% per year) and Russia (-X% per year).

In value terms, Ukraine ($X) constituted the largest supplier of pig iron to Bulgaria, comprising X% of total imports. The second position in the ranking was occupied by Turkey ($X), with a X% share of total imports.

From 2007 to 2019, the average annual growth rate of value from Ukraine amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+X% per year) and Russia (-X% per year).

Import Prices by Country

In 2019, the average pig iron import price amounted to $X per tonne, shrinking by -X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The import price peaked at $X per tonne in 2012; however, from 2013 to 2019, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, the country with the highest price was Russia ($X per tonne), while the price for Turkey ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Russia, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pig iron and spiegeleisen in the world?

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China (797M tonnes) constituted the country with the largest volume of pig iron consumption, comprising approx. 63% of total volume. Moreover, pig iron consumption in China exceeded the figures recorded by the second-largest consumer, India (76M tonnes), tenfold. South Korea (54M tonnes) ranked third in terms of total consumption with a 4.3% share.

What are the largest producers of pig iron and spiegeleisen in the world?

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China (797M tonnes) constituted the country with the largest volume of pig iron production, comprising approx. 63% of total volume. Moreover, pig iron production in China exceeded the figures recorded by the second-largest producer, India (77M tonnes), tenfold. The third position in this ranking was occupied by South Korea (54M tonnes), with a 4.2% share.

What are the leading suppliers of pig iron and spiegeleisen to Bulgaria?

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In value terms, Ukraine ($4.6M) constituted the largest supplier of pig iron to Bulgaria, comprising 83% of total imports. The second position in the ranking was occupied by Turkey ($497K), with a 9% share of total imports.

What are the leading importers of pig iron and spiegeleisen from Bulgaria?

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In value terms, Greece ($1.7M) remains the key foreign market for pig iron exports from Bulgaria, comprising 88% of total exports. The second position in the ranking was occupied by Romania ($116K), with a 6% share of total exports.

What is the average export price for pig iron and spiegeleisen in Bulgaria?

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In 2019, the average pig iron export price amounted to $357 per tonne, approximately reflecting the previous year.

What is the average import price for pig iron and spiegeleisen in Bulgaria?

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In 2019, the average pig iron import price amounted to $404 per tonne, falling by -6.9% against the previous year.