Denmark: Pig Iron Market Overview 2021

Pig Iron Market Size in Denmark

After two years of growth, the Danish pig iron market decreased by -X% to $X in 2020. In general, consumption showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the market value increased by X% y-o-y. Pig iron consumption peaked at $X in 2007; however, from 2008 to 2020, consumption failed to regain the momentum.

Pig Iron Exports

Exports from Denmark

For the third consecutive year, Denmark recorded decline in shipments abroad of pig iron and spiegeleisen, which decreased by -X% to X tonnes in 2020. In general, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Exports peaked at X tonnes in 2009; however, from 2010 to 2020, exports stood at a somewhat lower figure.

In value terms, pig iron exports soared to $X in 2020. Over the period under review, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. As a result, exports reached the peak of $X. From 2010 to 2020, the growth exports failed to regain the momentum.

Exports by Country

The U.S. (X tonnes) was the main destination for pig iron exports from Denmark, accounting for a X% share of total exports. Moreover, pig iron exports to the U.S. exceeded the volume sent to the second major destination, Slovakia (X tonnes), threefold. The third position in this ranking was occupied by Sweden (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to the U.S. stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+X% per year) and Sweden (+X% per year).

In value terms, the U.S. ($X) remains the key foreign market for pig iron exports from Denmark, comprising X% of total exports. The second position in the ranking was occupied by Slovakia ($X), with a X% share of total exports. It was followed by Sweden, with a X% share.

From 2007 to 2020, the average annual growth rate of value to the U.S. stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+X% per year) and Sweden (+X% per year).

Export Prices by Country

The average pig iron export price stood at $X per tonne in 2020, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2009 an increase of X% y-o-y. The export price peaked at $X per tonne in 2018; however, from 2019 to 2020, export prices remained at a lower figure.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S., while the prices for the other major destinations experienced a decline.

Pig Iron Imports

Imports into Denmark

In 2020, overseas purchases of pig iron and spiegeleisen decreased by -X% to X tonnes for the first time since 2017, thus ending a two-year rising trend. Over the period under review, imports showed a pronounced contraction. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tonnes in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, pig iron imports reduced dramatically to $X in 2020. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2018 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2007; however, from 2008 to 2020, imports remained at a lower figure.

Imports by Country

Norway (X tonnes) and the Netherlands (X tonnes) were the main suppliers of pig iron imports to Denmark, with a combined X% share of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (+X% per year).

In value terms, Norway ($X) and the Netherlands ($X) constituted the largest pig iron suppliers to Denmark, with a combined X% share of total imports.

The Netherlands saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

The average pig iron import price stood at $X per tonne in 2020, shrinking by -X% against the previous year. In general, the import price showed a pronounced downturn. The pace of growth was the most pronounced in 2017 when the average import price increased by X% y-o-y. The import price peaked at $X per tonne in 2008; however, from 2009 to 2020, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was Norway ($X per tonne), while the price for the Netherlands amounted to $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Norway.

Source: IndexBox AI Platform