Iran: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Iran

In 2023, the Iranian ferro-chromium market increased by X% to $X for the first time since 2020, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

Ferro-Chromium Production in Iran

In value terms, ferro-chromium production reached $X in 2023 estimated in export price. Over the period under review, production, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2023, production growth remained at a lower figure.

Ferro-Chromium Exports

Exports from Iran

Ferro-chromium exports from Iran surged to X tons in 2023, picking up by X% compared with the year before. Over the period under review, exports showed a remarkable increase. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, ferro-chromium exports fell modestly to $X in 2023. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then fell modestly in the following year.

Exports by Country

China (X tons) was the main destination for ferro-chromium exports from Iran, accounting for a X% share of total exports. Moreover, ferro-chromium exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Russia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Russia (X% per year).

In value terms, China ($X), the Netherlands ($X) and Russia ($X) were the largest markets for ferro-chromium exported from Iran worldwide, with a combined X% share of total exports.

The Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination 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-chromium export price amounted to $X per ton, waning by X% against the previous year. Overall, export price indicated slight growth from 2012 to 2023: its price 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, ferro-chromium export price increased by X% against 2020 indices. The growth pace was the most rapid in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank significantly in the following year.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

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

Ferro-Chromium Imports

Imports into Iran

In 2023, imports of ferro-chromium into Iran dropped remarkably to X tons, with a decrease of X% compared with the previous year's figure. In general, imports faced a drastic downturn. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2023, the growth of imports failed to regain momentum.

In value terms, ferro-chromium imports shrank dramatically to $X in 2023. Overall, imports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

China (X tons), Turkey (X tons) and Oman (X tons) were the main suppliers of ferro-chromium imports to Iran, with a combined X% share of total imports.

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

In value terms, China ($X), Turkey ($X) and India ($X) constituted the largest ferro-chromium suppliers to Iran, together accounting for X% of total imports. Oman, Germany, the Netherlands, Malaysia, the United Arab Emirates and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Oman, with a CAGR of X%, recorded the highest rates of growth with regard to 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-chromium import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2023: its price 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, ferro-chromium import price decreased by X% against 2019 indices. The growth pace was the most rapid in 2019 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2023, the average import prices remained at a somewhat lower figure.

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 the United Arab Emirates ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform