Central Asia: Pig Iron Market 2022

Pig Iron Market Size in Central Asia

In 2021, the Central Asian pig iron market decreased by -3.2% to $X for the first time since 2017, thus ending a three-year rising trend. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +67.5% against 2012 indices. Over the period under review, the market attained the peak level at $X in 2020, and then declined modestly in the following year.

Pig Iron Production in Central Asia

In value terms, pig iron production declined to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.3% 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 +31.5% against 2017 indices. The pace of growth was the most pronounced in 2015 with an increase of 27% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then dropped in the following year.

Pig Iron Exports

Exports in Central Asia

After three years of growth, overseas shipments of pig iron and spiegeleisen decreased by -11% to X tons in 2021. In general, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2013 when exports increased by 107% against the previous year. The volume of export peaked at X tons in 2020, and then contracted in the following year.

In value terms, pig iron exports dropped to $X in 2021. Over the period under review, exports, however, continue to indicate strong growth. The growth pace was the most rapid in 2013 with an increase of 42%. The level of export peaked at $X in 2020, and then reduced in the following year.

Exports by Country

Kazakhstan prevails in exports structure, resulting at X tons, which was near 100% of total exports in 2021. held a relatively small share of total exports.

Kazakhstan was also the fastest-growing in terms of the pig iron and spiegeleisen exports, with a CAGR of +20.5% from 2012 to 2021. Kyrgyzstan (-10.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Kazakhstan increased by +41 percentage points. Kyrgyzstan (-41.1 p.p.) saw their shares reduced.

In value terms, Kazakhstan ($X) also remains the largest pig iron supplier in Central Asia.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan stood at +27.0%.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, reducing by -3.1% against the previous year. In general, the export price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2015 when the export price increased by 25% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to +5.4% per year.

Pig Iron Imports

Imports in Central Asia

In 2021, purchases abroad of pig iron and spiegeleisen decreased by -7.8% to X tons, falling for the second consecutive year after three years of growth. Overall, imports showed a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of 51%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, pig iron imports rose slightly to $X in 2021. Over the period under review, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2018 when imports increased by 38%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Kazakhstan was the key importing country with an import of about X tons, which recorded 79% of total imports. Kyrgyzstan (X tons) ranks second in terms of the total imports with a 12% share, followed by Tajikistan (4.6%) and Uzbekistan (3.9%). The following importers - Turkmenistan (X tons) and Uzbekistan (X tons) - together made up 4.2% of total imports.

Kazakhstan was also the fastest-growing in terms of the pig iron and spiegeleisen imports, with a CAGR of +1.9% from 2012 to 2021. Kyrgyzstan (-6.6%), Tajikistan (-10.8%), Turkmenistan (-24.1%) and Uzbekistan (-25.3%) illustrated a downward trend over the same period. Kazakhstan (+38 p.p.) significantly strengthened its position in terms of the total imports, while Kyrgyzstan, Turkmenistan, Tajikistan and Uzbekistan saw its share reduced by -1.7%, -2.4%, -3.4% and -29.3% from 2012 to 2021, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported pig iron and spiegeleisen in Central Asia, comprising 65% of total imports. The second position in the ranking was taken by Kyrgyzstan ($X), with a 22% share of total imports. It was followed by Tajikistan, with a 6.7% share.

In Kazakhstan, pig iron imports decreased by an average annual rate of -4.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kyrgyzstan (-8.5% per year) and Tajikistan (-11.3% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, increasing by 12% against the previous year. Over the period under review, the import price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2016 an increase of 32% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Kyrgyzstan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tajikistan (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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