Czech Republic: Pig Iron Market 2022

Pig Iron Market Size in the Czech Republic

The Czech pig iron market fell to $X in 2021, which is down by -8% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Pig iron consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Pig Iron Production in the Czech Republic

In value terms, pig iron production fell modestly to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 16%. Pig iron production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Pig Iron Exports

Exports from the Czech Republic

In 2021, the amount of pig iron and spiegeleisen exported from the Czech Republic skyrocketed to X tons, picking up by 65% against the previous year. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 540% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, pig iron exports skyrocketed to $X in 2021. Overall, exports enjoyed a pronounced increase. The pace of growth was the most pronounced in 2017 when exports increased by 775% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X tons) was the main destination for pig iron exports from the Czech Republic, accounting for a 84% share of total exports. Moreover, pig iron exports to Poland exceeded the volume sent to the second major destination, Slovakia (X tons), ninefold. Italy (X tons) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2021, the average annual growth rate of volume to Poland amounted to +18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+2.0% per year) and Italy (-27.8% per year).

In value terms, Poland ($X) remains the key foreign market for pig iron exports from the Czech Republic, comprising 84% of total exports. The second position in the ranking was held by Slovakia ($X), with an 8.7% share of total exports. It was followed by Italy, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value to Poland amounted to +19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+2.6% per year) and Italy (-26.2% per year).

Export Prices by Country

The average pig iron export price stood at $X per ton in 2021, growing by 41% against the previous year. Overall, export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pig iron export price increased by +113.0% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Hungary ($X per ton) and Germany ($X per ton), while the average price for exports to Italy ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Pig Iron Imports

Imports into the Czech Republic

In 2021, overseas purchases of pig iron and spiegeleisen were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a pronounced decline. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, pig iron imports soared to $X in 2021. Overall, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X tons) constituted the largest pig iron supplier to the Czech Republic, with a 60% share of total imports. Moreover, pig iron imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Austria (X tons) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume from Poland amounted to +36.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.9% per year) and Austria (+8.8% per year).

In value terms, Poland ($X) constituted the largest supplier of pig iron to the Czech Republic, comprising 66% of total imports. The second position in the ranking was held by Germany ($X), with a 23% share of total imports. It was followed by Austria, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Poland amounted to +43.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.0% per year) and Austria (+12.2% per year).

Import Prices by Country

In 2021, the average pig iron import price amounted to $X per ton, with an increase of 52% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.9% 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 +149.3% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Poland ($X per ton) and Austria ($X per ton), while the price for Germany ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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