Greece: Pig Iron Market Overview 2021

Pig Iron Market Size in Greece

In 2020, the Greek pig iron market decreased by -X% to $X for the first time since 2016, thus ending a three-year rising trend. Over the period under review, consumption recorded a deep downturn. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Pig iron consumption peaked at $X in 2007; however, from 2008 to 2020, consumption failed to regain the momentum.

Pig Iron Exports

Exports from Greece

After three years of growth, shipments abroad of pig iron and spiegeleisen decreased by -X% to X tonnes in 2020. In general, exports saw a sharp curtailment. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. Over the period under review, exports hit record highs at X tonnes in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

In value terms, pig iron exports declined rapidly to $X in 2020. Over the period under review, exports faced a sharp decline. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Exports peaked at $X in 2011; however, from 2012 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Bulgaria (X tonnes) was the main destination for pig iron exports from Greece, with a approx. X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of volume to Bulgaria totaled -X%.

In value terms, Bulgaria ($X) also remains the key foreign market for pig iron exports from Greece.

From 2007 to 2020, the average annual growth rate of value to Bulgaria amounted to -X%.

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. In general, the export price posted a strong expansion. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% y-o-y. The export price peaked in 2020 and is expected to retain growth in the near future.

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

From 2007 to 2020, the rate of growth in terms of prices for Bulgaria amounted to +X% per year.

Pig Iron Imports

Imports into Greece

After three years of growth, purchases abroad of pig iron and spiegeleisen decreased by -X% to X tonnes in 2020. In general, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tonnes in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, pig iron imports fell significantly to $X in 2020. Over the period under review, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Serbia (X tonnes) constituted the largest pig iron supplier to Greece, accounting for a X% share of total imports. Moreover, pig iron imports from Serbia exceeded the figures recorded by the second-largest supplier, Bulgaria (X tonnes), threefold. Germany (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Serbia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (-X% per year) and Germany (+X% per year).

In value terms, the largest pig iron suppliers to Greece were Serbia ($X), Germany ($X) and Bulgaria ($X), with a combined X% share of total imports.

Germany saw 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 mixed trend patterns.

Import Prices by Country

The average pig iron import price stood at $X per tonne in 2020, with an increase of X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2012; however, from 2013 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($X per tonne), while the price for Bulgaria ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Italy, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform