Australia and Oceania: Pig Iron Market 2022

Pig Iron Market Size in Australia and Oceania

The pig iron market in Australia and Oceania reached $X in 2021, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Pig Iron Production in Australia and Oceania

In value terms, pig iron production contracted to $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +70.4% against 2012 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 11% against the previous year. The level of production peaked at $X in 2020, and then shrank modestly in the following year.

Pig Iron Exports

Exports in Australia and Oceania

In 2021, overseas shipments of pig iron and spiegeleisen decreased by -99.5% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 120% against the previous year. As a result, the exports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, pig iron exports reduced remarkably to $X in 2021. Overall, exports saw a dramatic setback. The most prominent rate of growth was recorded in 2016 with an increase of 17% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then declined notably in the following year.

Exports by Country

In 2021, Australia (X tons) was the largest exporter of pig iron and spiegeleisen, mixing up 84% of total exports. It was distantly followed by New Zealand (X tons), creating a 16% share of total exports.

Exports from Australia decreased at an average annual rate of -41.6% from 2012 to 2021. At the same time, New Zealand (+2.7%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +2.7% from 2012-2021. New Zealand (+16 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -15.9% from 2012 to 2021, respectively.

In value terms, Australia ($X) remains the largest pig iron supplier in Australia and Oceania, comprising 87% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 13% share of total exports.

In Australia, pig iron exports shrank by an average annual rate of -32.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per ton, with an increase of 88% against the previous year. Overall, the export price recorded buoyant growth. The pace of growth was the most pronounced in 2018 when the export price increased by 246% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+15.9%).

Pig Iron Imports

Imports in Australia and Oceania

Pig iron imports skyrocketed to X tons in 2021, picking up by 19% compared with 2020 figures. In general, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 50%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, pig iron imports skyrocketed to $X in 2021. Total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -23.7% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 99%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Australia dominates imports structure, finishing at X tons, which was near 94% of total imports in 2021. The following importers - Samoa (X tons) and Solomon Islands (X tons) - together made up 4.6% of total imports.

Australia was also the fastest-growing in terms of the pig iron and spiegeleisen imports, with a CAGR of +6.5% from 2012 to 2021. Samoa and Solomon Islands experienced a relatively flat trend pattern. While the share of Samoa (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Solomon Islands (-1.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported pig iron and spiegeleisen in Australia and Oceania, comprising 93% of total imports. The second position in the ranking was taken by Samoa ($X), with a 2.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Australia totaled +4.7%. In the other countries, the average annual rates were as follows: Samoa (0.0% per year) and Solomon Islands (-8.5% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, picking up by 8.3% against the previous year. In general, the import price, however, continues to indicate a slight descent. The pace of growth appeared the most rapid in 2017 when the import price increased by 32%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was Samoa ($X per ton), while Solomon Islands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-1.7%).

Source: IndexBox Platform

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