Slovakia: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Slovakia

The Slovak ferro-chromium market contracted significantly to $X in 2022, with a decrease of -69.7% 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 recorded a deep slump. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Ferro-Chromium Exports

Exports from Slovakia

In 2022, overseas shipments of ferro-chromium increased by 85% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, faced a deep contraction. The growth pace was the most rapid in 2021 with an increase of 3,500% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ferro-chromium exports soared to $X in 2022. In general, exports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 2,819% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons) was the main destination for ferro-chromium exports from Slovakia, with a 64% share of total exports. Moreover, ferro-chromium exports to Poland exceeded the volume sent to the second major destination, Belgium (X tons), threefold. Chile (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Poland totaled -14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-15.6% per year) and Chile (0.0% per year).

In value terms, Poland ($X) emerged as the key foreign market for ferro-chromium exports from Slovakia, comprising 57% of total exports. The second position in the ranking was held by Belgium ($X), with a 27% share of total exports. It was followed by Chile, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value to Poland stood at -15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-19.6% per year) and Chile (0.0% per year).

Export Prices by Country

The average ferro-chromium export price stood at $X per ton in 2022, surging by 4.8% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 127%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Chile ($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 Czech Republic (+2.3%), while the prices for the other major destinations experienced a decline.

Ferro-Chromium Imports

Imports into Slovakia

In 2022, imports of ferro-chromium into Slovakia plummeted to X tons, shrinking by -48% compared with the year before. Over the period under review, imports saw a abrupt setback. The pace of growth appeared the most rapid in 2018 when imports increased by 106%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, ferro-chromium imports expanded notably to $X in 2022. Overall, imports recorded a deep downturn. The growth pace was the most rapid in 2018 when imports increased by 176%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the Czech Republic (X tons) constituted the largest ferro-chromium supplier to Slovakia, accounting for a 62% share of total imports. Moreover, ferro-chromium imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. India (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume from the Czech Republic stood at +29.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+42.6% per year) and India (+9.5% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of ferro-chromium to Slovakia, comprising 78% of total imports. The second position in the ranking was taken by Poland ($X), with an 11% share of total imports. It was followed by Italy, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Czech Republic totaled +38.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+39.1% per year) and Italy (+78.3% per year).

Import Prices by Country

The average ferro-chromium import price stood at $X per ton in 2022, surging by 117% against the previous year. In general, the import price showed a prominent expansion. 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 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+28.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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