Brazil: Ferro-Silicon Market 2024

Ferro-Silicon Market Size in Brazil

The Brazilian ferro-silicon market shrank to $X in 2022, waning by -10.8% against the previous year. In general, consumption, however, showed tangible growth. Ferro-silicon consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Ferro-Silicon Production in Brazil

In value terms, ferro-silicon production stood at $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 31% against the previous year. Ferro-silicon production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ferro-Silicon Exports

Exports from Brazil

For the fifth consecutive year, Brazil recorded growth in shipments abroad of ferro-silicon, which increased by 71% to X tons in 2022. In general, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 83% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, ferro-silicon exports skyrocketed to $X in 2022. Overall, exports enjoyed a noticeable expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for ferro-silicon exports from Brazil, with a 39% share of total exports. Moreover, ferro-silicon exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), threefold. Germany (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+22.2% per year) and Germany (+0.5% per year).

In value terms, Japan ($X) remains the key foreign market for ferro-silicon exports from Brazil, comprising 40% of total exports. The second position in the ranking was held by the United States ($X), with a 14% share of total exports. It was followed by Germany, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+23.0% per year) and Germany (-0.6% per year).

Export Prices by Country

In 2022, the average ferro-silicon export price amounted to $X per ton, approximately mirroring the previous year. In general, the export price, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2018 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Argentina ($X per ton) and Canada ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.

Ferro-Silicon Imports

Imports into Brazil

In 2022, supplies from abroad of ferro-silicon increased by 95% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded buoyant growth. The pace of growth was the most pronounced in 2014 when imports increased by 135% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, ferro-silicon imports soared to $X in 2022. Overall, imports saw resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 153% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

Paraguay (X tons), China (X tons) and Canada (X tons) were the main suppliers of ferro-silicon imports to Brazil, with a combined 76% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Paraguay (with a CAGR of +137.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ferro-silicon suppliers to Brazil were Paraguay ($X), China ($X) and Canada ($X), with a combined 70% share of total imports.

In terms of the main suppliers, Paraguay, with a CAGR of +164.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ferro-silicon import price stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the import price continues to indicate a mild downturn. The growth pace was the most rapid in 2018 when the average import price increased by 8.3% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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