Iran: Ferro-Molybdenum Market 2024

Ferro-Molybdenum Market Size in Iran

The Iranian ferro-molybdenum market shrank slightly to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.4% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Ferro-Molybdenum Production in Iran

In value terms, ferro-molybdenum production fell slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Ferro-Molybdenum Exports

Exports from Iran

In 2022, the amount of ferro-molybdenum exported from Iran shrank modestly to X tons, approximately equating the year before. Over the period under review, exports recorded a abrupt decline. The pace of growth was the most pronounced in 2013 when exports increased by 23%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ferro-molybdenum exports contracted to $X in 2022. Overall, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2018 when exports increased by 58%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for ferro-molybdenum exports from Iran, with a 72% share of total exports. Moreover, ferro-molybdenum exports to Turkey exceeded the volume sent to the second major destination, Belgium (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey stood at -2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+28.8% per year) and the Czech Republic (+27.5% per year).

In value terms, Turkey ($X) remains the key foreign market for ferro-molybdenum exports from Iran, comprising 68% of total exports. The second position in the ranking was taken by Belgium ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Turkey amounted to -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+41.4% per year) and the Czech Republic (+22.3% per year).

Export Prices by Country

The average ferro-molybdenum export price stood at $X per ton in 2022, waning by -5.4% against the previous year. Overall, the export price saw a noticeable descent. The most prominent rate of growth was recorded in 2018 an increase of 45%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+9.7%), while the prices for the other major destinations experienced a decline.

Ferro-Molybdenum Imports

Imports into Iran

In 2018, approx. X tons of ferro-molybdenum were imported into Iran; jumping by 104% against 2017 figures. Over the period under review, imports, however, continue to indicate a deep downturn. Imports peaked at X tons in 2016; however, from 2017 to 2018, imports failed to regain momentum.

In value terms, ferro-molybdenum imports surged to $X in 2018. Overall, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2018, the UK (X tons) constituted the largest ferro-molybdenum supplier to Iran, accounting for a 80% share of total imports. Moreover, ferro-molybdenum imports from the UK exceeded the figures recorded by the second-largest supplier, India (X kg), fourfold.

From 2016 to 2018, the average annual rate of growth in terms of volume from the UK amounted to +120.9%.

In value terms, the UK ($X) constituted the largest supplier of ferro-molybdenum to Iran, comprising 68% of total imports. The second position in the ranking was held by India ($X), with a 32% share of total imports.

From 2016 to 2018, the average annual rate of growth in terms of value from the UK amounted to +162.3%.

Import Prices by Country

In 2018, the average ferro-molybdenum import price amounted to $X per ton, with an increase of 35% against the previous year. Over the period under review, import price indicated significant growth from 2016 to 2018: its price increased at an average annual rate of +30.5% over the last two years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, ferro-molybdenum import price increased by +70.2% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2018, amid the top importers, the country with the highest price was India ($X per ton), while the price for the UK totaled $X per ton.

From 2016 to 2018, the most notable rate of growth in terms of prices was attained by India (+64.9%).

Source: IndexBox Platform

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