United Kingdom: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in the UK

In 2023, after two years of growth, there was decline in the UK ferro-alloys market, when its value decreased by X% to $X. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Ferro-Alloys Production in the UK

In value terms, ferro-alloys production expanded markedly to $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Ferro-Alloys Exports

Exports from the UK

In 2023, the amount of ferro-alloys exported from the UK dropped to X tons, with a decrease of X% compared with 2022 figures. In general, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, ferro-alloys exports soared to $X in 2023. Over the period under review, exports, however, recorded a perceptible increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in years to come.

Exports by Country

The Netherlands (X tons) was the main destination for ferro-alloys exports from the UK, accounting for a X% share of total exports. Moreover, ferro-alloys exports to the Netherlands exceeded the volume sent to the second major destination, Japan (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to the Netherlands totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Germany (X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for ferro-alloys exports from the UK, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by Spain, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Spain (X% per year).

Export Prices by Country

In 2023, the average ferro-alloys export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price continues to indicate resilient growth. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Alloys Imports

Imports into the UK

Ferro-alloys imports into the UK dropped to X tons in 2023, declining by X% on the previous year. Overall, imports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, ferro-alloys imports reduced to $X in 2023. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

Norway (X tons), South Africa (X tons) and India (X tons) were the main suppliers of ferro-alloys imports to the UK, with a combined X% share of total imports. Brazil, Ukraine, France, Zimbabwe, Germany, Colombia, Kazakhstan, Sweden, China and Finland lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Colombia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Norway ($X) and South Africa ($X) constituted the largest ferro-alloys suppliers to the UK, together comprising X% of total imports. Colombia, China, Germany, India, France, Kazakhstan, Ukraine, Zimbabwe, Sweden and Finland lagged somewhat behind, together comprising a further X%.

Colombia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ferro-alloys import price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, import price indicated notable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-alloys import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2022, and then declined in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform