Pakistan: Pig Iron Market Overview 2021

Pig Iron Market Size in Pakistan

For the third consecutive year, the Pakistani pig iron market recorded decline in sales value, which decreased by -X% to $X in 2020. Overall, consumption faced a abrupt setback. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the market reached the peak level at $X in 2007; however, from 2008 to 2020, consumption failed to regain the momentum.

Pig Iron Production in Pakistan

In value terms, pig iron production declined sharply to $X in 2020 estimated in export prices. Over the period under review, production showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Pig iron production peaked at $X in 2008; however, from 2009 to 2020, production stood at a somewhat lower figure.

Pig Iron Exports

Exports from Pakistan

In 2020, approx. X tonnes of pig iron and spiegeleisen were exported from Pakistan; rising by X% compared with the previous year. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. Exports peaked in 2020 and are expected to retain growth in the near future.

In value terms, pig iron exports surged to $X in 2020. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Exports peaked in 2020 and are likely to see gradual growth in years to come.

Exports by Country

Bahrain (X tonnes) and Sweden (X tonnes) were the main destinations of pig iron exports from Pakistan.

From 2007 to 2020, the biggest increases were in Bahrain (+X% per year).

In value terms, Bahrain ($X) remains the key foreign market for pig iron exports from Pakistan, comprising X% of total exports. The second position in the ranking was occupied by Sweden ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to Bahrain stood at +X%.

Export Prices by Country

In 2020, the average pig iron export price amounted to $X per tonne, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, showed a pronounced downturn. The pace of growth was the most pronounced in 2017 when the average export price increased by X% y-o-y. The export price peaked at $X per tonne in 2013; however, from 2014 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Bahrain ($X per tonne), while the average price for exports to Sweden amounted to $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Sweden.

Pig Iron Imports

Imports into Pakistan

In 2020, overseas purchases of pig iron and spiegeleisen were finally on the rise to reach X tonnes after two years of decline. In general, imports, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2015 with an increase of X% year-to-year. Imports peaked at X tonnes in 2017; however, from 2018 to 2020, imports remained at a lower figure.

In value terms, pig iron imports soared to $X in 2020. Overall, imports, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2015 when imports increased by X% y-o-y. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Russia (X tonnes) constituted the largest supplier of pig iron to Pakistan, with a X% share of total imports. Moreover, pig iron imports from Russia exceeded the figures recorded by the second-largest supplier, Brazil (X tonnes), threefold. South Africa (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Russia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+X% per year) and South Africa (-X% per year).

In value terms, Russia ($X) constituted the largest supplier of pig iron to Pakistan, comprising X% of total imports. The second position in the ranking was occupied by Brazil ($X), with a X% share of total imports. It was followed by South Africa, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-X% per year) and South Africa (-X% per year).

Import Prices by Country

The average pig iron import price stood at $X per tonne in 2020, growing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 an increase of X% year-to-year. Over the period under review, average import prices attained the maximum at $X per tonne in 2012; however, from 2013 to 2020, import prices failed to regain the momentum.

Average prices varied somewhat amongst the major supplying countries. In 2020, the countries with the highest prices were Brazil ($X per tonne) and Russia ($X per tonne), while the price for Iran ($X per tonne) and South Africa ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Norway, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pig iron and spiegeleisen in the world?

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China (837M tonnes) constituted the country with the largest volume of pig iron consumption, accounting for 74% of total volume. Moreover, pig iron consumption in China exceeded the figures recorded by the second-largest consumer, India (81M tonnes), tenfold. The third position in this ranking was occupied by South Korea (57M tonnes), with a 5% share.

What are the largest producers of pig iron and spiegeleisen in the world?

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The country with the largest volume of pig iron production was China (832M tonnes), comprising approx. 73% of total volume. Moreover, pig iron production in China exceeded the figures recorded by the second-largest producer, India (82M tonnes), tenfold. The third position in this ranking was occupied by South Korea (57M tonnes), with a 5% share.

What are the leading suppliers of pig iron and spiegeleisen to Pakistan?

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In value terms, Russia ($2M) constituted the largest supplier of pig iron to Pakistan, comprising 46% of total imports. The second position in the ranking was occupied by Brazil ($797K), with a 19% share of total imports. It was followed by South Africa, with a 8.9% share.

What are the leading importers of pig iron and spiegeleisen from Pakistan?

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In value terms, Bahrain ($386K) remains the key foreign market for pig iron exports from Pakistan, comprising 81% of total exports. The second position in the ranking was occupied by Sweden ($90K), with a 19% share of total exports.

What is the average export price for pig iron and spiegeleisen in Pakistan?

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The average pig iron export price stood at $341 per tonne in 2020, remaining constant against the previous year.

What is the average import price for pig iron and spiegeleisen in Pakistan?

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In 2020, the average pig iron import price amounted to $417 per tonne, rising by 13% against the previous year.