Romania: Pig Iron Articles Market 2023

Pig Iron Articles Market Size in Romania

The Romanian pig iron articles market fell notably to $X in 2021, waning by -20.8% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Pig iron articles consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Pig Iron Articles Production in Romania

In value terms, pig iron articles production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 20%. Pig iron articles production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Pig Iron Articles Exports

Exports from Romania

In 2021, overseas shipments of granules and powders of pig iron were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 27% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, pig iron articles exports skyrocketed to $X in 2021. In general, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), Italy (X tons) and Spain (X tons) were the main destinations of pig iron articles exports from Romania, together comprising 72% of total exports. Austria, China, Poland, Slovakia, the United States, Turkey, Thailand, South Korea and India lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +116.7%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Spain ($X) appeared to be the largest markets for pig iron articles exported from Romania worldwide, together accounting for 73% of total exports. Austria, China, Thailand, the United States, Poland, Turkey, Slovakia, South Korea and India lagged somewhat behind, together accounting for a further 23%.

Poland, with a CAGR of +136.6%, saw the highest rates of growth with regard to 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

The average pig iron articles export price stood at $X per ton in 2021, growing by 25% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Pig Iron Articles Imports

Imports into Romania

In 2021, after two years of decline, there was significant growth in overseas purchases of granules and powders of pig iron, when their volume increased by 45% to X tons. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, pig iron articles imports surged to $X in 2021. In general, imports enjoyed a resilient increase. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Sweden (X tons), Slovenia (X tons) and Germany (X tons) were the main suppliers of pig iron articles imports to Romania, with a combined 54% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +36.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) constituted the largest supplier of granules and powders of pig iron to Romania, comprising 30% of total imports. The second position in the ranking was held by Slovenia ($X), with a 12% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Sweden stood at +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+10.5% per year) and Germany (+32.0% per year).

Import Prices by Country

The average pig iron articles import price stood at $X per ton in 2021, rising by 34% against the previous year. Overall, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pig iron articles import price increased by +67.9% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 36% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+36.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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