Colombia: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in Colombia

The Colombian ferro-alloys market shrank remarkably to $X in 2022, with a decrease of X% against the previous year. Over the period under review, the total consumption indicated a notable increase 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. As a result, consumption attained the peak level of $X, and then shrank markedly in the following year.

Ferro-Alloys Production in Colombia

In value terms, ferro-alloys production fell to $X in 2022 estimated in export price. Over the period under review, production saw a slight curtailment. The growth pace was the most rapid in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Ferro-Alloys Exports

Exports from Colombia

In 2022, overseas shipments of ferro-alloys were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a relatively flat trend pattern. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ferro-alloys exports soared to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for ferro-alloys exports from Colombia, accounting for a X% share of total exports. Moreover, ferro-alloys exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. South Korea (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and South Korea (X% per year).

In value terms, China ($X) remains the key foreign market for ferro-alloys exports from Colombia, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and South Korea (X% per year).

Export Prices by Country

The average ferro-alloys export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

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 Spain ($X per ton), while the average price for exports to Germany ($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 Switzerland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Alloys Imports

Imports into Colombia

Ferro-alloys imports into Colombia shrank sharply to X tons in 2022, which is down by X% compared with the previous year's figure. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports reached the peak of X tons, and then contracted sharply in the following year.

In value terms, ferro-alloys imports skyrocketed to $X in 2022. In general, total imports indicated pronounced growth 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Mexico (X tons), India (X tons) and Ukraine (X tons) were the main suppliers of ferro-alloys imports to Colombia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), India ($X) and China ($X) were the largest ferro-alloys suppliers to Colombia, with a combined X% share of total imports.

Mexico, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ferro-alloys import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, import price indicated a strong 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, ferro-alloys import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform