India: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in India

After two years of growth, the Indian ferro-alloys market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Ferro-alloys consumption peaked at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Ferro-Alloys Production in India

In value terms, ferro-alloys production stood at $X in 2023 estimated in export price. In general, the total production indicated a pronounced increase 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, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Ferro-alloys production peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Ferro-Alloys Exports

Exports from India

In 2023, overseas shipments of ferro-alloys increased by X% to X tons, rising for the third year in a row after three years of decline. Overall, total exports indicated notable growth from 2012 to 2023: its volume 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked in 2023 and are likely to continue growth in the near future.

In value terms, ferro-alloys exports fell rapidly to $X in 2023. Over the period under review, exports posted a measured increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then declined dramatically in the following year.

Exports by Country

China (X tons), the United Arab Emirates (X tons) and Italy (X tons) were the main destinations of ferro-alloys exports from India, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United Arab Emirates ($X) and Japan ($X) constituted the largest markets for ferro-alloys exported from India worldwide, together comprising X% of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average ferro-alloys export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2022, and then contracted sharply in the following year.

Average prices varied somewhat for the major foreign markets. In 2023, amid the top suppliers, the countries with the highest prices were Oman ($X per ton) and China ($X per ton), while the average price for exports to Italy ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Oman (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Alloys Imports

Imports into India

Ferro-alloys imports into India reduced to X tons in 2023, dropping by X% compared with 2022. Over the period under review, total imports indicated pronounced growth from 2012 to 2023: its volume 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, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, ferro-alloys imports declined significantly to $X in 2023. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at $X in 2022, and then declined remarkably in the following year.

Imports by Country

Bhutan (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of ferro-alloys imports to India, with a combined X% share of total imports. Malaysia, South Korea, South Africa, Russia, Switzerland, Albania, the United Arab Emirates, Singapore, Norway and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), South Korea ($X) and Bhutan ($X) constituted the largest ferro-alloys suppliers to India, with a combined X% share of total imports.

Among the main suppliers, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average ferro-alloys import price amounted to $X per ton, declining by X% against the previous year. Overall, import price indicated a slight increase 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-alloys import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The import price peaked 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 Singapore ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform