Australia: Pig Iron Market 2022

Pig Iron Market Size in Australia

The Australian pig iron market totaled $X in 2021, approximately mirroring the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

Pig Iron Production in Australia

In value terms, pig iron production dropped modestly to $X in 2021 estimated in export price. Overall, production posted prominent growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 26%. Over the period under review, production reached the maximum level at $X in 2020, and then dropped modestly in the following year.

Pig Iron Exports

Exports from Australia

After two years of growth, shipments abroad of pig iron and spiegeleisen decreased by -99.6% to X tons in 2021. Over the period under review, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2020 with an increase of 121%. As a result, the exports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, pig iron exports fell remarkably to $X in 2021. In general, exports saw a precipitous decrease. The pace of growth was the most pronounced in 2018 when exports increased by 17%. The exports peaked at $X in 2020, and then dropped sharply in the following year.

Exports by Country

Pakistan (X tons) was the main destination for pig iron exports from Australia, accounting for a 64% share of total exports. Moreover, pig iron exports to Pakistan exceeded the volume sent to the second major destination, New Zealand (X tons), threefold. The third position in this ranking was taken by Malaysia (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume to Pakistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-50.9% per year) and Malaysia (-57.6% per year).

In value terms, Pakistan ($X) emerged as the key foreign market for pig iron exports from Australia, comprising 82% of total exports. The second position in the ranking was held by New Zealand ($X), with a 13% share of total exports. It was followed by Malaysia, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Pakistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-42.8% per year) and Malaysia (-40.7% per year).

Export Prices by Country

In 2021, the average pig iron export price amounted to $X per ton, jumping by 94% against the previous year. Overall, the export price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 247% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Malaysia ($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 Germany (+431.4%), while the prices for the other major destinations experienced more modest paces of growth.

Pig Iron Imports

Imports into Australia

In 2021, approx. X tons of pig iron and spiegeleisen were imported into Australia; jumping by 16% compared with the previous year's figure. In general, imports posted prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 54%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, pig iron imports soared to $X in 2021. Over the period under review, imports continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 110% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), South Africa (X tons) and Belgium (X tons) were the main suppliers of pig iron imports to Australia, with a combined 99% 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 Brazil (with a CAGR of +18.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Brazil ($X), South Africa ($X) and Belgium ($X) constituted the largest pig iron suppliers to Australia, with a combined 98% share of total imports.

Belgium, with a CAGR of +40.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average pig iron import price stood at $X per ton in 2021, increasing by 7.2% against the previous year. Over the period under review, the import price, however, saw a slight contraction. The pace of growth appeared the most rapid in 2017 an increase of 37% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Belgium ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+37.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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