Denmark: Pig Iron Market 2022

Pig Iron Market Size in Denmark

The Danish pig iron market surged to $X in 2021, increasing by 50% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a abrupt contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Pig Iron Exports

Exports from Denmark

In 2021, overseas shipments of pig iron and spiegeleisen were finally on the rise to reach X tons after four years of decline. In general, exports, however, continue to indicate a significant curtailment. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, pig iron exports soared to $X in 2021. Overall, exports, however, saw a precipitous contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for pig iron exports from Denmark, with a 75% share of total exports. Moreover, pig iron exports to the United States exceeded the volume sent to the second major destination, Slovakia (X tons), sixfold. The third position in this ranking was held by Greenland (X tons), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+37.0% per year) and Greenland (+25.4% per year).

In value terms, the United States ($X) remains the key foreign market for pig iron exports from Denmark, comprising 87% of total exports. The second position in the ranking was held by Slovakia ($X), with a 7.5% share of total exports. It was followed by China, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -22.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+25.4% per year) and China (-19.5% per year).

Export Prices by Country

The average pig iron export price stood at $X per ton in 2021, waning by -5.1% against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pig iron export price increased by +57.3% against 2016 indices. The pace of growth appeared the most rapid in 2014 an increase of 76% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Greenland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+34.0%), while the prices for the other major destinations experienced more modest paces of growth.

Pig Iron Imports

Imports into Denmark

In 2021, the amount of pig iron and spiegeleisen imported into Denmark surged to X tons, picking up by 19% compared with the year before. In general, imports, however, showed a pronounced shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 51%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, pig iron imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a deep slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Norway (X tons) constituted the largest supplier of pig iron to Denmark, with a 86% share of total imports. Moreover, pig iron imports from Norway exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume from Norway amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+37.7% per year) and Germany (-50.3% per year).

In value terms, Norway ($X) constituted the largest supplier of pig iron to Denmark, comprising 86% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Norway totaled +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+26.1% per year) and Germany (-50.1% per year).

Import Prices by Country

The average pig iron import price stood at $X per ton in 2021, picking up by 57% against the previous year. In general, the import price, however, continues to indicate a pronounced contraction. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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