Colombia: Ferro-Silicon Market 2024

Ferro-Silicon Market Size in Colombia

In 2023, after two years of growth, there was decline in the Colombian ferro-silicon market, when its value decreased by X% to $X. Over the period under review, the total consumption indicated a mild expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Ferro-silicon consumption peaked at $X in 2013; however, from 2014 to 2023, consumption remained at a lower figure.

Ferro-Silicon Exports

Exports from Colombia

Ferro-silicon exports from Colombia soared to X tons in 2023, growing by X% on the year before. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports remained at a lower figure.

In value terms, ferro-silicon exports rose slightly to $X in 2023. In general, exports continue to indicate a pronounced increase. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Ecuador (X tons) was the main destination for ferro-silicon exports from Colombia, with a approx. X% share of total exports.

From 2012 to 2023, the average annual growth rate of volume to Ecuador amounted to X%.

In value terms, Ecuador ($X) emerged as the key foreign market for ferro-silicon exports from Colombia.

From 2012 to 2023, the average annual growth rate of value to Ecuador totaled X%.

Export Prices by Country

In 2023, the average ferro-silicon export price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, continues to indicate a measured expansion. The growth pace was the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2022, and then reduced in the following year.

As there is only one major export destination, the average price level is determined by prices for Ecuador.

From 2012 to 2023, the rate of growth in terms of prices for Venezuela amounted to X% per year.

Ferro-Silicon Imports

Imports into Colombia

In 2023, the amount of ferro-silicon imported into Colombia expanded markedly to X tons, picking up by X% against the year before. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, ferro-silicon imports dropped slightly to $X in 2023. Over the period under review, total imports indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of ferro-silicon to Colombia, with a X% share of total imports. Moreover, ferro-silicon imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was taken by Russia (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Russia (X% per year).

In value terms, China ($X), Brazil ($X) and Russia ($X) were the largest ferro-silicon suppliers to Colombia, together accounting for X% of total imports. Paraguay, Spain, India and Mexico lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to 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-silicon import price stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, import price indicated moderate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-silicon import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2022, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Paraguay (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform