Vietnam: Ferro-Silico-Manganese Market 2024

Ferro-Silico-Manganese Market Size in Vietnam

The Vietnamese ferro-silico-manganese market declined markedly to $X in 2022, waning by -29.9% against the previous year. Overall, consumption recorded a abrupt setback. Ferro-silico-manganese consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Ferro-Silico-Manganese Production in Vietnam

In value terms, ferro-silico-manganese production fell remarkably to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 when the production volume increased by 157% against the previous year. Ferro-silico-manganese production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Ferro-Silico-Manganese Exports

Exports from Vietnam

In 2022, ferro-silico-manganese exports from Vietnam amounted to X tons, standing approx. at the previous year's figure. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 90% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, ferro-silico-manganese exports shrank modestly to $X in 2022. Overall, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +3.1% against 2020 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 76% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for ferro-silico-manganese exports from Vietnam, with a 78% share of total exports. Moreover, ferro-silico-manganese exports to Japan exceeded the volume sent to the second major destination, Pakistan (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+46.5% per year) and South Korea (-6.5% per year).

In value terms, Japan ($X) remains the key foreign market for ferro-silico-manganese exports from Vietnam, comprising 77% of total exports. The second position in the ranking was held by Pakistan ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at +6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+55.0% per year) and South Korea (-3.3% per year).

Export Prices by Country

In 2022, the average ferro-silico-manganese export price amounted to $X per ton, shrinking by -3.2% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 58%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Japan ($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 Pakistan (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Silico-Manganese Imports

Imports into Vietnam

In 2022, the amount of ferro-silico-manganese imported into Vietnam rose rapidly to X tons, increasing by 9.3% on the year before. In general, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 211% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, ferro-silico-manganese imports expanded notably to $X in 2022. Overall, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 140% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest ferro-silico-manganese supplier to Vietnam, with a 58% share of total imports. Moreover, ferro-silico-manganese imports from Malaysia exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. China (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia totaled +44.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.7% per year) and China (+22.9% per year).

In value terms, Malaysia ($X) constituted the largest supplier of ferro-silico-manganese to Vietnam, comprising 59% of total imports. The second position in the ranking was taken by India ($X), with a 22% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +42.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.7% per year) and China (+21.3% per year).

Import Prices by Country

The average ferro-silico-manganese import price stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 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 2017 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Australia ($X per ton) and China ($X per ton), while the price for South Korea ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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