Malaysia: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Malaysia

The Malaysian ferro-chromium market skyrocketed to $X in 2022, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed prominent growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Ferro-Chromium Exports

Exports from Malaysia

In 2022, the amount of ferro-chromium exported from Malaysia contracted rapidly to X tons, reducing by X% compared with 2021. In general, exports recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, ferro-chromium exports fell notably to $X in 2022. Over the period under review, exports recorded a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for ferro-chromium exports from Malaysia, accounting for a X% share of total exports. Moreover, ferro-chromium exports to China exceeded the volume sent to the second major destination, Canada (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to China stood at X%.

In value terms, China ($X) remains the key foreign market for ferro-chromium exports from Malaysia, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled X%.

Export Prices by Country

The average ferro-chromium export price stood at $X per ton in 2022, approximately equating the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Ferro-Chromium Imports

Imports into Malaysia

In 2022, approx. X tons of ferro-chromium were imported into Malaysia; surging by X% on 2021 figures. In general, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, ferro-chromium imports soared to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of ferro-chromium to Malaysia, accounting for a X% share of total imports. Moreover, ferro-chromium imports from Russia exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

In value terms, the largest ferro-chromium suppliers to Malaysia were Russia ($X), India ($X) and China ($X), with a combined X% share of total imports. The Netherlands, Turkey, Taiwan (Chinese), South Korea, Kazakhstan, Sweden and Japan lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2022, the average ferro-chromium import price amounted to $X per ton, increasing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform