China: Chromium Market 2021

Chromium Market Size in China

In 2020, after five years of growth, there was significant decline in the Chinese chromium market, when its value decreased by -X% to $X. In general, consumption saw a deep slump. The growth pace was the most rapid in 2011 with an increase of X% y-o-y. As a result, consumption reached the peak level of $X. From 2012 to 2020, the growth of the market failed to regain the momentum.

Chromium Production in China

In value terms, chromium production fell notably to $X in 2020 estimated in export prices. Overall, production faced a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Chromium production peaked at $X in 2011; however, from 2012 to 2020, production stood at a somewhat lower figure.

Chromium Exports

Exports from China

Chromium exports from China expanded to X tons in 2020, growing by X% compared with the previous year's figure. Over the period under review, exports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, exports reached the peak of X tons. From 2019 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, chromium exports declined dramatically to $X in 2020. In general, exports, however, saw a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of X% y-o-y. As a result, exports reached the peak of $X. From 2019 to 2020, the growth exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for chromium exports from China, accounting for a X% share of total exports. Moreover, chromium exports to Japan exceeded the volume sent to the second major destination, the U.S. (X tons), fourfold. The third position in this ranking was occupied by South Korea (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume to Japan amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (-X% per year) and South Korea (-X% per year).

In value terms, Japan ($X) remains the key foreign market for chromium exports from China, comprising X% of total exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to Japan stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (-X% per year) and South Korea (-X% per year).

Export Prices by Country

In 2020, the average chromium export price amounted to $X per ton, declining by -X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 an increase of X% against the previous year. As a result, export price reached the peak level of $X per ton. From 2012 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Germany ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to South Korea, while the prices for the other major destinations experienced mixed trend patterns.

Chromium Imports

Imports into China

Chromium imports into China amounted to X tons in 2020, surging by X% compared with the previous year's figure. Over the period under review, imports recorded a mild expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2020 and are expected to retain growth in the immediate term.

In value terms, chromium imports contracted to $X in 2020. In general, imports continue to indicate temperate growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2020, the growth imports remained at a lower figure.

Imports by Country

Russia (X tons), Germany (X tons) and South Korea (X tons) were the main suppliers of chromium imports to China, together accounting for X% of total imports.

From 2007 to 2020, the biggest increases were in Russia (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constituted the largest supplier of chromium to China, comprising X% of total imports. The second position in the ranking was occupied by Germany ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from Russia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Japan (+X% per year).

Import Prices by Country

In 2020, the average chromium import price amounted to $X per ton, waning by -X% against the previous year. Overall, the import price, however, continues to indicate a measured increase. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% year-to-year. As a result, import price attained the peak level of $X per ton. From 2016 to 2020, the growth in terms of the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the UK, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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