China: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in China

In 2022, the Chinese chromium ore and concentrate market increased by X% to $X, rising for the second year in a row after three years of decline. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Chromium ore and concentrate consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Production of Chromium Ores and Concentrates in China

In value terms, chromium ore and concentrate production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt decline. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Chromium Ores and Concentrates

Exports from China

In 2022, shipments abroad of chromium ores and concentrates was finally on the rise to reach X tons after two years of decline. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, chromium ore and concentrate exports soared to $X in 2022. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Russia (X tons), South Korea (X tons) and Vietnam (X tons) were the main destinations of chromium ore and concentrate exports from China, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), South Korea ($X) and Vietnam ($X) appeared to be the largest markets for chromium ore and concentrate exported from China worldwide, together accounting for X% of total exports.

Russia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chromium ore and concentrate export price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chromium ore and concentrate export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chromium Ores and Concentrates

Imports into China

Chromium ore and concentrate imports into China stood at X tons in 2022, approximately mirroring the previous year's figure. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, chromium ore and concentrate imports surged to $X in 2022. Overall, imports showed a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, South Africa (X tons) constituted the largest chromium ore and concentrate supplier to China, accounting for a X% share of total imports. Moreover, chromium ore and concentrate imports from South Africa exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. The third position in this ranking was held by Zimbabwe (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Africa totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Zimbabwe (X% per year).

In value terms, South Africa ($X) constituted the largest supplier of chromium ores and concentrates to China, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with an X% share of total imports. It was followed by Albania, with a X% share.

From 2012 to 2022, the average annual growth rate of value from South Africa stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Albania (X% per year).

Import Prices by Country

In 2022, the average chromium ore and concentrate import price amounted to $X per ton, surging by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Albania ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zimbabwe (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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