CIS: Pig Iron Market 2022

Pig Iron Market Size in CIS

In 2021, after two years of decline, there was growth in the CIS pig iron market, when its value increased by 2.6% to $X. In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Pig Iron Production in CIS

In value terms, pig iron production totaled $X in 2021 estimated in export price. Over the period under review, production recorded a slight shrinkage. The pace of growth was the most pronounced in 2017 when the production volume increased by 43%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Pig Iron Exports

Exports in CIS

For the third year in a row, the CIS recorded decline in overseas shipments of pig iron and spiegeleisen, which decreased by -5.9% to X tons in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 22% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, pig iron exports soared to $X in 2021. Total exports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Russia (X tons) was the largest exporter of pig iron and spiegeleisen in the CIS, generating 100% of total export.

Russia experienced a relatively flat trend pattern with regard to volume of exports of pig iron and spiegeleisen. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest pig iron supplier in the CIS.

From 2012 to 2021, the average annual growth rate of value in Russia totaled +1.7%.

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, picking up by 62% against the previous year. Export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for Russia amounted to +2.2% per year.

Pig Iron Imports

Imports in CIS

In 2021, supplies from abroad of pig iron and spiegeleisen was finally on the rise to reach X tons after two years of decline. In general, imports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2018 with an increase of 204% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, pig iron imports surged to $X in 2021. Overall, imports, however, showed a perceptible setback. The growth pace was the most rapid in 2018 with an increase of 177%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Belarus dominates imports structure, finishing at X tons, which was near 89% of total imports in 2021. It was distantly followed by Russia (X tons), mixing up a 1.5% share of total imports. Moldova (X tons), Kazakhstan (X tons) and Azerbaijan (X tons) held a little share of total imports.

Imports into Belarus decreased at an average annual rate of -5.1% from 2012 to 2021. At the same time, Moldova (+59.6%), Azerbaijan (+38.7%), Russia (+17.8%) and Kazakhstan (+1.9%) displayed positive paces of growth. Moreover, Moldova emerged as the fastest-growing importer imported in the CIS, with a CAGR of +59.6% from 2012-2021. While the share of Moldova (+3.2 p.p.) and Azerbaijan (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Belarus (-6.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belarus ($X) constitutes the largest market for imported pig iron and spiegeleisen in the CIS, comprising 92% of total imports. The second position in the ranking was taken by Azerbaijan ($X), with a 2.4% share of total imports. It was followed by Kazakhstan, with a 1.9% share.

In Belarus, pig iron imports shrank by an average annual rate of -2.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Azerbaijan (+36.4% per year) and Kazakhstan (-4.7% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, jumping by 66% against the previous year. Import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pig iron import price increased by +107.1% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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