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IndexBox has just published a new report:
‘World – Chromium ores and concentrates – Market Analysis, Forecast, Size,
Trends and Insights’. Here is a summary of the report’s key findings.
In 2020, global exports of chromium ores
and concentrates reduced sharply by -10.2% y-o-y to 16M tonnes. China, the
major importer of chromium ores and concentrates, comprises over 70% of the
total global imports. In Q1 2021, shipments to the country stood at a level
slightly lower than in the same period of 2020. South Africa remains the
largest exporter worldwide, accounting for 79% of the total global exports.
Largest Importers of Chromium Ores and
Concentrates
In 2020, China (16M tonnes) represented the
key importer of chromium ores and concentrates, constituting 71% of total
imports. It was distantly followed by Mozambique (3.8M tonnes), generating a
17% share of total imports. Russia (896K tonnes) followed a long way behind the
leaders.
In value terms, China ($3B) constitutes the
largest market for imported chromium ores and concentrates worldwide,
comprising 77% of global imports. The second position in the ranking was
occupied by Mozambique ($386M), with a 10% share of global imports.
In Q1 2021, shipments to the country stood
at a level slightly lower than in the same period of 2020. A sharp drop was
recorded in Q2 2020 due to the pandemic, followed by a recovery, after which
imports stabilized. Should the trend pattern remain flat in 2021, a slight
growth against 2020 could be expected.
Chromium Ore and Concentrate Exports by
Country
In 2020, approx. 16M tonnes of chromium
ores and concentrates were exported worldwide; shrinking by -10.2% on the
previous year. In value terms, chromium ore and concentrate exports fell
rapidly to $2.5B (IndexBox estimates) in 2020.
South Africa dominates chromium ore and
concentrate export structure, accounting for 13M tonnes, which was near 79% of
total exports in 2020. The following exporters – Kazakhstan (676K tonnes),
Turkey (672K tonnes), Zimbabwe (583K tonnes), Oman (378K tonnes), Pakistan
(279K tonnes) and Albania (249K tonnes) – together made up 18% of total
exports.
In 2020, average annual rates of growth
with regard to chromium ore and concentrate exports from South Africa stood at
-7.4%. Kazakhstan (-3.3%), Zimbabwe (-13.6%), Pakistan (-16.6%), Albania
(-22.0%), Turkey (-33.4%) and Oman (-36.2%) illustrated a downward trend over
the same period.
In value terms, South Africa ($1.8B)
remains the largest chromium ore and concentrate supplier worldwide, comprising
74% of global exports. The second position in the ranking was occupied by
Turkey ($126M), with a 5.1% share of global exports. It was followed by
Zimbabwe, with a 4.4% share.
In 2020, the average chromium ore and
concentrate export price amounted to $152 per tonne, which is down by -13.3%
against the previous year. There were differences in the average prices amongst
the major exporting countries. In 2020, the country with the highest price was
Pakistan ($191 per tonne), while Oman ($100 per tonne) was amongst the lowest.
In 2020, the most notable rate of growth in terms of prices was attained by
Kazakhstan, while the other global leaders experienced a decline in the export price
figures.
Source: IndexBox Platform