Indonesia: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in Indonesia

The Indonesian chromium ore and concentrate market skyrocketed to $X in 2022, rising by 41% against the previous year. In general, consumption posted a significant increase. Chromium ore and concentrate consumption peaked in 2022 and is likely to see steady growth in the near future.

Production of Chromium Ores and Concentrates in Indonesia

In value terms, chromium ore and concentrate production expanded to $X in 2022 estimated in export price. In general, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.9% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 16% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Chromium Ores and Concentrates

Exports from Indonesia

In 2022, shipments abroad of chromium ores and concentrates increased by 144% to X tons for the first time since 2012, thus ending a nine-year declining trend. Over the period under review, exports, however, saw a sharp contraction. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, chromium ore and concentrate exports soared to $X in 2022. Overall, exports, however, recorded a dramatic setback. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for chromium ore and concentrate exports from Indonesia, with a 97% share of total exports. It was followed by Japan (X tons), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China totaled -41.3%.

In value terms, China ($X) remains the key foreign market for chromium ores and concentrates exports from Indonesia, comprising 98% of total exports. The second position in the ranking was held by Japan ($X), with a 1.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled -35.6%.

Export Prices by Country

The average chromium ore and concentrate export price stood at $X per ton in 2022, shrinking by -13.2% against the previous year. In general, the export price, however, showed a remarkable increase. The pace of growth was the most pronounced in 2013 an increase of 25%. The export price peaked at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Japan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.6%).

Imports of Chromium Ores and Concentrates

Imports into Indonesia

In 2022, the amount of chromium ores and concentrates imported into Indonesia soared to X tons, with an increase of 28% on the previous year's figure. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 3,737%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, chromium ore and concentrate imports soared to $X in 2022. In general, imports showed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 2,391% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of chromium ore and concentrate to Indonesia, with a 69% share of total imports. Moreover, chromium ore and concentrate imports from Turkey exceeded the figures recorded by the second-largest supplier, South Africa (X tons), fourfold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to +78.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+78.2% per year) and Hong Kong SAR (+236.9% per year).

In value terms, Turkey ($X) constituted the largest supplier of chromium ores and concentrates to Indonesia, comprising 55% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 28% share of total imports. It was followed by South Africa, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at +57.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+135.0% per year) and South Africa (+50.0% per year).

Import Prices by Country

The average chromium ore and concentrate import price stood at $X per ton in 2022, surging by 21% against the previous year. In general, the import price, however, recorded a deep contraction. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Hong Kong SAR ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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