U.S.: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in the U.S.

In 2023, after two years of growth, there was significant decline in the U.S. ferro-alloys market, when its value decreased by X% to $X. Overall, the total consumption indicated a strong increase from 2012 to 2023: its value 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. Ferro-alloys consumption peaked at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Ferro-Alloys Production in the U.S.

In value terms, ferro-alloys production rose modestly to $X in 2023. In general, production posted a buoyant increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Ferro-Alloys Exports

Exports from the U.S.

In 2023, after two years of growth, there was significant decline in overseas shipments of ferro-alloys, when their volume decreased by X% to X tons. In general, exports saw a noticeable contraction. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, ferro-alloys exports declined to $X in 2023. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for ferro-alloys exports from the United States, accounting for a X% share of total exports. Moreover, ferro-alloys exports to Canada exceeded the volume sent to the second major destination, Malaysia (X tons), eightfold. Mexico (X tons) ranked third in terms of total exports with an X% share.

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

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

From 2012 to 2023, the average annual rate of growth in terms of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average ferro-alloys export price stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, export price indicated a perceptible increase 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-alloys export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Canada ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Alloys Imports

Imports into the U.S.

In 2023, overseas purchases of ferro-alloys decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2014 with an increase of 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-alloys imports contracted sharply to $X in 2023. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then shrank dramatically in the following year.

Imports by Country

South Africa (X tons), Malaysia (X tons) and Australia (X tons) were the main suppliers of ferro-alloys imports to the United States, 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 Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), South Africa ($X) and Canada ($X) appeared to be the largest ferro-alloys suppliers to the United States, together comprising X% of total imports. Kazakhstan, Malaysia, Russia, South Korea, Norway, India, Australia, Zimbabwe, Georgia and Mexico lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, recorded the highest growth rate of 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 2023, the average ferro-alloys import price amounted to $X per ton, with a decrease of X% against the previous year. In general, import price indicated a moderate expansion 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-alloys import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

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

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

Source: IndexBox Platform