Kazakhstan: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Kazakhstan

The Kazakh ferro-chromium market declined dramatically to $X in 2022, which is down by -25.9% against the previous year. Over the period under review, consumption continues to indicate a drastic downturn. Ferro-chromium consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Ferro-Chromium Production in Kazakhstan

In value terms, ferro-chromium production dropped modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 26%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Ferro-Chromium Exports

Exports from Kazakhstan

In 2022, ferro-chromium exports from Kazakhstan reached X tons, remaining relatively unchanged against the previous year. Over the period under review, total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -0.7% against 2020 indices. The pace of growth appeared the most rapid in 2016 when exports increased by 45% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, ferro-chromium exports fell to $X in 2022. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 32% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for ferro-chromium exports from Kazakhstan, accounting for a 47% share of total exports. Moreover, ferro-chromium exports to China exceeded the volume sent to the second major destination, Japan (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.3% per year) and the United States (-2.2% per year).

In value terms, the largest markets for ferro-chromium exported from Kazakhstan were China ($X), Japan ($X) and the United States ($X), with a combined 71% share of total exports.

The United States, with a CAGR of +6.4%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average ferro-chromium export price amounted to $X per ton, falling by -3% against the previous year. Over the period under review, the export price saw a perceptible downturn. The pace of growth appeared the most rapid in 2017 when the average export price increased by 44% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 the United States (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Chromium Imports

Imports into Kazakhstan

In 2022, ferro-chromium imports into Kazakhstan shrank slightly to X tons, therefore, remained relatively stable against 2021 figures. Over the period under review, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 38%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ferro-chromium imports expanded significantly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) was the main supplier of ferro-chromium to Kazakhstan, with a approx. 99% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at -6.0%.

In value terms, Russia ($X) constituted the largest supplier of ferro-chromium to Kazakhstan.

From 2012 to 2022, the average annual growth rate of value from Russia was relatively modest.

Import Prices by Country

In 2022, the average ferro-chromium import price amounted to $X per ton, rising by 8.1% against the previous year. Overall, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-chromium import price decreased by -7.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 39% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to +5.7% per year.

Source: IndexBox Platform

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