Slovakia: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in Slovakia

The Slovak chromium ore and concentrate market rose significantly to $X in 2022, picking up by 10% 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). Overall, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +24.0% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Exports of Chromium Ores and Concentrates

Exports from Slovakia

In 2022, the amount of chromium ores and concentrates exported from Slovakia skyrocketed to X tons, rising by 1,372% on the previous year. Over the period under review, exports recorded a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, chromium ore and concentrate exports soared to $X in 2022. Overall, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ukraine (X tons) and the Czech Republic (X tons) were the main destinations of chromium ore and concentrate exports from Slovakia.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +7.2%).

In value terms, Ukraine ($X) emerged as the key foreign market for chromium ores and concentrates exports from Slovakia, comprising 81% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ukraine totaled +14.4%.

Export Prices by Country

In 2022, the average chromium ore and concentrate export price amounted to $X per ton, surging by 85% against the previous year. Over the period under review, the export price saw a strong 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to the Czech Republic totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+7.9%).

Imports of Chromium Ores and Concentrates

Imports into Slovakia

In 2022, the amount of chromium ores and concentrates imported into Slovakia fell to X tons, declining by -10.2% on the previous year. Overall, total imports indicated strong growth from 2012 to 2022: its volume 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, imports decreased by -20.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 60%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, chromium ore and concentrate imports soared to $X in 2022. Over the period under review, imports, however, showed measured growth. The most prominent rate of growth was recorded in 2018 when imports increased by 57% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest chromium ore and concentrate supplier to Slovakia, accounting for a 46% 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), threefold. Germany (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled +30.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-0.4% per year) and Germany (-0.5% per year).

In value terms, Turkey ($X) constituted the largest supplier of chromium ores and concentrates to Slovakia, comprising 61% of total imports. The second position in the ranking was taken by South Africa ($X), with a 13% share of total imports. It was followed by Germany, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey totaled +36.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-3.2% per year) and Germany (-2.3% per year).

Import Prices by Country

In 2022, the average chromium ore and concentrate import price amounted to $X per ton, jumping by 37% against the previous year. Overall, the import price, however, saw a perceptible contraction. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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