Brazil: Ferro-Manganese Market 2024

Ferro-Manganese Market Size in Brazil

The Brazilian ferro-manganese market contracted to $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Ferro-Manganese Production in Brazil

In value terms, ferro-manganese production declined slightly to $X in 2022 estimated in export price. Overall, production showed a pronounced setback. The most prominent rate of growth was recorded in 2014 with an increase of 21%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Ferro-Manganese Exports

Exports from Brazil

In 2022, ferro-manganese exports from Brazil skyrocketed to X tons, jumping by 39% against 2021 figures. Over the period under review, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 41%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ferro-manganese exports soared to $X in 2022. In general, exports, however, saw a abrupt downturn. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina (X tons) was the main destination for ferro-manganese exports from Brazil, accounting for a 74% share of total exports. Moreover, ferro-manganese exports to Argentina exceeded the volume sent to the second major destination, France (X tons), more than tenfold. The third position in this ranking was taken by the United States (X tons), with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume to Argentina stood at -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+94.0% per year) and the United States (-6.1% per year).

In value terms, Argentina ($X) remains the key foreign market for ferro-manganese exports from Brazil, comprising 69% of total exports. The second position in the ranking was held by France ($X), with a 13% share of total exports. It was followed by the United States, with a 1.5% share.

From 2012 to 2022, the average annual growth rate of value to Argentina stood at -7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+101.9% per year) and the United States (-16.1% per year).

Export Prices by Country

The average ferro-manganese export price stood at $X per ton in 2022, picking up by 5.4% against the previous year. Over the period under review, the export price, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2021 an increase of 104% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 France ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+4.1%), while the prices for the other major destinations experienced a decline.

Ferro-Manganese Imports

Imports into Brazil

In 2022, approx. X tons of ferro-manganese were imported into Brazil; picking up by 11% on 2021 figures. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 181%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, ferro-manganese imports skyrocketed to $X in 2022. In general, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 298% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of ferro-manganese to Brazil, accounting for a 49% share of total imports. Moreover, ferro-manganese imports from India exceeded the figures recorded by the second-largest supplier, Norway (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with a 22% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at +50.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+20.0% per year) and South Korea (+28.4% per year).

In value terms, the largest ferro-manganese suppliers to Brazil were India ($X), Norway ($X) and South Korea ($X), with a combined 96% share of total imports.

India, with a CAGR of +37.8%, saw the highest rates of growth with regard to the value of imports, among 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 2022, the average ferro-manganese import price amounted to $X per ton, with an increase of 44% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-manganese import price increased by +103.5% against 2020 indices. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, 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 France ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+17.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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