Italy: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Italy

The Italian ferro-chromium market dropped to $X in 2022, shrinking by -12.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a deep contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ferro-Chromium Exports

Exports from Italy

Ferro-chromium exports from Italy reduced dramatically to X tons in 2022, with a decrease of -67.4% against the previous year. Overall, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2017 when exports increased by 106%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, ferro-chromium exports declined dramatically to $X in 2022. Over the period under review, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 213%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Austria (X tons) was the main destination for ferro-chromium exports from Italy, with a 60% share of total exports. Moreover, ferro-chromium exports to Austria exceeded the volume sent to the second major destination, Slovenia (X tons), sixfold. Germany (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria totaled +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+10.5% per year) and Germany (-0.8% per year).

In value terms, Austria ($X) emerged as the key foreign market for ferro-chromium exports from Italy, comprising 59% of total exports. The second position in the ranking was held by Germany ($X), with an 11% share of total exports. It was followed by Slovenia, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria amounted to +28.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+10.1% per year) and Slovenia (+15.8% per year).

Export Prices by Country

In 2022, the average ferro-chromium export price amounted to $X per ton, with an increase of 88% against the previous year. Overall, the export price saw a prominent increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the average price for exports to Slovenia ($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 (+27.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Chromium Imports

Imports into Italy

In 2022, the amount of ferro-chromium imported into Italy reduced to X tons, waning by -13.3% compared with the previous year. In general, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 45% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, ferro-chromium imports contracted dramatically to $X in 2022. Overall, imports faced a abrupt contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 72%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa (X tons), Kazakhstan (X tons) and the Netherlands (X tons) were the main suppliers of ferro-chromium imports to Italy, with a combined 80% share of total imports. Turkey, India, Germany and Sweden lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +35.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), South Africa ($X) and the Netherlands ($X) appeared to be the largest ferro-chromium suppliers to Italy, with a combined 75% share of total imports. Turkey, India, Germany and Sweden lagged somewhat behind, together accounting for a further 24%.

Sweden, with a CAGR of +26.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average ferro-chromium import price amounted to $X per ton, waning by -13.1% against the previous year. Over the period under review, the import price showed a noticeable setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 19%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Sweden ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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