U.S.: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in the U.S.

In 2022, the U.S. ferro-chromium market increased by 47% to $X, rising for the second year in a row after four years of decline. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +90.2% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ferro-Chromium Production in the U.S.

In value terms, ferro-chromium production expanded remarkably to $X in 2022. Over the period under review, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 57%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Ferro-Chromium Exports

Exports from the U.S.

In 2022, exports of ferro-chromium from the United States amounted to X tons, approximately mirroring the previous year's figure. Overall, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 96%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, ferro-chromium exports skyrocketed to $X in 2022. In general, exports continue to indicate perceptible growth. The pace of growth was the most pronounced in 2017 when exports increased by 142% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for ferro-chromium exports from the United States, accounting for a 66% share of total exports. Moreover, ferro-chromium exports to Canada exceeded the volume sent to the second major destination, India (X tons), sixfold. The third position in this ranking was held by the Netherlands (X tons), with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada stood at -7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+14.4% per year) and the Netherlands (+36.3% per year).

In value terms, Canada ($X) remains the key foreign market for ferro-chromium exports from the United States, comprising 79% of total exports. The second position in the ranking was taken by India ($X), with a 9.2% share of total exports. It was followed by the Netherlands, with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+16.7% per year) and the Netherlands (+45.5% per year).

Export Prices by Country

In 2022, the average ferro-chromium export price amounted to $X per ton, surging by 108% against the previous year. In general, the export price enjoyed a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to India ($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 Argentina (+26.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Chromium Imports

Imports into the U.S.

In 2022, purchases abroad of ferro-chromium increased by 62% to X tons, rising for the second year in a row after three years of decline. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +166.3% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 64%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, ferro-chromium imports skyrocketed to $X in 2022. In general, imports posted a perceptible increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, South Africa (X tons) constituted the largest supplier of ferro-chromium to the United States, with a 38% share of total imports. Moreover, ferro-chromium imports from South Africa exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), twofold. Finland (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+7.4% per year) and Finland (+27.0% per year).

In value terms, Kazakhstan ($X) constituted the largest supplier of ferro-chromium to the United States, comprising 38% of total imports. The second position in the ranking was taken by South Africa ($X), with a 17% share of total imports. It was followed by Finland, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Kazakhstan totaled +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-4.7% per year) and Finland (+24.5% per year).

Import Prices by Country

In 2022, the average ferro-chromium import price amounted to $X per ton, rising by 16% against the previous year. In general, the import price, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 24%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+11.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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