Latin America and the Caribbean: Chrome Ore Market Overview 2020

Chrome Ore Market Size in Latin America and the Caribbean

The revenue of the chrome ore market in Latin America and the Caribbean amounted to $X in 2017, going down by -X% against the previous year. The chrome ore consumption continues to indicate a drastic deduction. The growth pace was the most rapid in 2008, when market value increased by X% against the previous year. In that year, the chrome ore market reached their peak level of $X. From 2009 to 2017, growth of the chrome ore market stood at a somewhat lower level.

Chrome Ore Production in Latin America and the Caribbean

In 2017, chrome ore production in Latin America and the Caribbean totaled X tonnes, approximately equating the previous year. The total output indicated a mild expansion 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 production decreased by -X% against 2014 indices. The most prominent rate of growth was recorded in 2014, when the output figure increased by X% y-o-y. In that year, the chrome ore production attained their peak volume of X tonnes. From 2015 to 2017, growth of the chrome ore production failed to regain its momentum.

Chrome Ore Exports

Exports in Latin America and the Caribbean

The exports amounted to X tonnes in 2017, picking up by X% against the previous year. The chrome ore exports continue to indicate a drastic drop. The pace of growth appeared the most rapid in 2011, when it surged by X% year-to-year. Over the period under review, the chrome ore exports reached its peak figure volume of X tonnes in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

In value terms, chrome ore exports amounted to $X in 2017. The chrome ore exports continue to indicate a precipitous drop. Over the period under review, the chrome ore exports attained its peak figure level of $X in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

Exports by Country

Brazil dominates chrome ore exports structure, accounting for X tonnes, which was approx. X% of total exports in 2017. Chile (X tonnes) held the slight share of total exports.

From 2007 to 2017, average annual rates of growth with regard to chrome ore exports from Brazil stood at -X%. Chile (-X%) illustrated a downward trend over the same period. Brazil (X%) and Chile (X%) significantly strengthened 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, Brazil ($X) remains the largest chrome ore supplier in Latin America and the Caribbean, making up X% of global exports. The second position in the ranking was occupied by Chile ($X), with a X% share of global exports.

In Brazil, chrome ore exports shrank by an average annual rate of -X% over the period from 2007-2017.

Export Prices by Country

In 2017, the chrome ore export price in Latin America and the Caribbean amounted to $X per tonne, going down by -X% against the previous year. The chrome ore export price continues to indicate a drastic descent. The growth pace was the most rapid in 2008, an increase of X% y-o-y. Over the period under review, the export prices for chromium ores and concentrates reached its maximum level of $X per tonne in 2010; however, from 2011 to 2017, it failed to regain its momentum.

Export prices varied noticeably by the country of destination; the country with the highest export price was Chile ($X per tonne), while Brazil ($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 Chile (-X% per year).

Chrome Ore Imports

Imports in Latin America and the Caribbean

The imports totaled X tonnes in 2017, surging by X% against the previous year. The chrome ore imports continue to indicate a mild contraction. The growth pace was the most rapid in 2012, when imports increased by X% year-to-year. The volume of imports peaked of X tonnes in 2008; however, from 2009 to 2017, it failed to regain its momentum.

In value terms, chrome ore imports stood at $X in 2017. The chrome ore imports continue to indicate a relatively flat trend pattern. In that year, the chrome ore imports reached their peak level of $X. From 2009 to 2017, growth of the chrome ore imports failed to regain its momentum.

Imports by Country

In 2017, Argentina (X tonnes) represented the largest importer for chromium ores and concentrates, committing X% of total imports. It was distantly followed by Brazil (X tonnes), Mexico (X tonnes), Chile (X tonnes), Peru (X tonnes) and Venezuela (X tonnes), together generating X% share of total imports.

From 2007 to 2017, average annual rates of growth with regard to chrome ore imports into Argentina stood at +X%. At the same time, Venezuela (+X%) and Peru (+X%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest growing importer in Latin America and the Caribbean, with a CAGR of +X% from 2007-2017. By contrast, Mexico (-X%), Chile (-X%) and Brazil (-X%) illustrated a downward trend over the same period. From 2007 to 2017, the share of Brazil, Mexico and Chile increased by X%, X% and X% percentage points, while Peru (-X%), Venezuela (-X%) and Argentina (-X%) saw their share reduced.

In value terms, Argentina ($X), Brazil ($X) and Mexico ($X) were the countries with the highest levels of imports in 2017, together comprising X% of total imports. These countries were followed by Chile, Peru and Venezuela, which together accounted for a further X%.

Venezuela (+X% per year) recorded the highest growth rate of imports, among the main importing countriesover the last decade, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2017, the chrome ore import price in Latin America and the Caribbean amounted to $X per tonne, jumping by X% against the previous year. The import price indicated a slight expansion from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2011, an increase of X% year-to-year. In that year, the import prices for chromium ores and concentrates reached their peak level of $X per tonne. From 2012 to 2017, growth of the import prices for chromium ores and concentrates failed to regain its momentum.

Import prices varied noticeably by the country of destination; the country with the highest import price was Mexico ($X per tonne), while Venezuela ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Mexico (+X% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform