SADC: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in SADC

The SADC chromium ore and concentrate market dropped dramatically to $X in 2022, with a decrease of -61.2% against the previous year. Over the period under review, consumption showed a deep reduction. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Chromium Ores and Concentrates in SADC

In value terms, chromium ore and concentrate production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by 43%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Chromium Ores and Concentrates

Exports in SADC

In 2022, chromium ore and concentrate exports in SADC amounted to X tons, approximately equating the previous year. Over the period under review, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 46%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, chromium ore and concentrate exports soared to $X in 2022. Overall, exports continue to indicate resilient growth. The growth pace was the most rapid in 2017 with an increase of 64% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

South Africa prevails in exports structure, resulting at X tons, which was approx. 97% of total exports in 2022. Zimbabwe (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to chromium ore and concentrate exports from South Africa stood at +9.4%. At the same time, Zimbabwe (+13.7%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing exporter exported in SADC, with a CAGR of +13.7% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest chromium ore and concentrate supplier in SADC, comprising 98% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a 1.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to +8.0%.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, increasing by 19% against the previous year. Over the period under review, the export price, however, saw a mild setback. The most prominent rate of growth was recorded in 2017 when the export price increased by 26%. Over the period under review, the 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Zimbabwe amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-1.3%).

Imports of Chromium Ores and Concentrates

Imports in SADC

Chromium ore and concentrate imports fell rapidly to X tons in 2022, which is down by -99.7% against the previous year. In general, imports recorded a significant contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 502%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, chromium ore and concentrate imports reduced dramatically to $X in 2022. Overall, imports saw a sharp descent. The most prominent rate of growth was recorded in 2016 when imports increased by 266% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted rapidly in the following year.

Imports by Country

South Africa represented the largest importer of chromium ores and concentrates in SADC, with the volume of imports accounting for X tons, which was approx. 81% of total imports in 2022. It was distantly followed by Seychelles (X tons), committing a 16% share of total imports.

Imports into South Africa increased at an average annual rate of +7.7% from 2012 to 2022. At the same time, Seychelles (+13.7%) displayed positive paces of growth. Moreover, Seychelles emerged as the fastest-growing importer imported in SADC, with a CAGR of +13.7% from 2012-2022. While the share of South Africa (+79 p.p.) and Seychelles (+15 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported chromium ores and concentrates in SADC, comprising 78% of total imports. The second position in the ranking was taken by Seychelles ($X), with a 13% share of total imports.

In South Africa, chromium ore and concentrate imports plunged by an average annual rate of -3.1% over the period from 2012-2022.

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, dropping by -24.9% against the previous year. In general, the import price saw a perceptible reduction. The pace of growth was the most pronounced in 2015 when the import price increased by 58%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while Seychelles stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-10.0%).

Source: IndexBox Platform