Eastern Asia: Chrome Ore Market Overview 2020

Chrome Ore Market Size in Eastern Asia

The revenue of the chrome ore market in Eastern Asia amounted to $X in 2017, going up by X% against the previous year. The chrome ore consumption continues to indicate a strong increase. The pace of growth was the most pronounced in 2011, when it surged by X% against the previous year. The level of chrome ore consumption peaked in 2017, and is likely to see steady growth in the immediate term.

Chrome Ore Production in Eastern Asia

In 2017, chrome ore production in Eastern Asia amounted to X tonnes, declining by -X% against the previous year. The chrome ore production continues to indicate a deep drop. The volume of chrome ore production peaked of X tonnes in 2007; however, from 2008 to 2017, it failed to regain its momentum.

Chrome Ore Exports

Exports in Eastern Asia

The exports stood at X tonnes in 2017, rising by X% against the previous year. The chrome ore exports continue to indicate a mild expansion. The pace of growth appeared the most rapid in 2008, when it surged by X% y-o-y. Over the period under review, the chrome ore exports reached its maximum volume of X tonnes in 2009; however, from 2010 to 2017, it failed to regain its momentum.

In value terms, chrome ore exports totaled $X in 2017. The chrome ore exports continue to indicate a moderate expansion. In that year, the chrome ore exports reached their peak level of $X. From 2012 to 2017, growth of the chrome ore exports stood at a somewhat lower level.

Exports by Country

China prevails in chrome ore exports structure, reaching X tonnes, which was near X% of total exports in 2017. South Korea (X tonnes) took the minor share of total exports.

China was also the fastest growing in terms of the chromium ores and concentrates exports, with a CAGR of +X% from 2007 to 2017. South Korea experienced a relatively flat trend pattern. China (-X%) significantly weakened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest chrome ore supplier in Eastern Asia, making up X% of global exports. The second position in the ranking was occupied by South Korea ($X), with a X% share of global exports.

From 2007 to 2017, the average annual growth rate of value in China stood at +X%.

Export Prices by Country

In 2017, the chrome ore export price in Eastern Asia amounted to $X per tonne, remaining constant against the previous year. The chrome ore export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2011, when it surged by X% year-to-year. Over the period under review, the export prices for chromium ores and concentrates reached its maximum level of $X per tonne in 2015; however, from 2016 to 2017, it failed to regain its momentum.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was China ($X per tonne), while South Korea ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by China (+X% per year).

Chrome Ore Imports

Imports in Eastern Asia

The imports totaled X tonnes in 2017, jumping by X% against the previous year. The total imports indicated a prominent growth from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the chrome ore imports decreased by -X% against 2013 indices. The pace of growth was the most pronounced in 2008, when it surged by X% against the previous year. The volume of imports peaked of X tonnes in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

In value terms, chrome ore imports totaled $X in 2017. The chrome ore imports continue to indicate a relatively flat trend pattern. The level of imports peaked of $X in 2008; however, from 2009 to 2017, it failed to regain its momentum.

Imports by Country

The imports of the one major importers of chromium ores and concentrates, namely China, represented more than two-thirds of total import.

China was also the fastest growing in terms of the chromium ores and concentrates imports, with a CAGR of +X% from 2007 to 2017. China (-X%) significantly weakened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported chromium ores and concentrates in Eastern Asia.

From 2007 to 2017, the average annual rate of growth in terms of value in China was relatively modest.

Import Prices by Country

The chrome ore import price in Eastern Asia stood at $X per tonne in 2017, falling by -X% against the previous year. The chrome ore import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2010, an increase of X% y-o-y. Over the period under review, the import prices for chromium ores and concentrates reached its peak figure level of $X per tonne in 2008; however, from 2009 to 2017, it stood at a somewhat lower level.

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

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by China (-X% per year).

Source: IndexBox AI Platform