Australia: Pig Iron Market 2024

Pig Iron Market Size in Australia

In 2023, the Australian pig iron market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption posted moderate growth. Pig iron consumption peaked in 2023 and is expected to retain growth in the immediate term.

Pig Iron Production in Australia

In value terms, pig iron production declined to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2022, and then dropped modestly in the following year.

Pig Iron Exports

Exports from Australia

In 2023, shipments abroad of pig iron and spiegeleisen decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, exports saw a sharp curtailment. The growth pace was the most rapid in 2019 with an increase of X%. The exports peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, pig iron exports skyrocketed to $X in 2023. Over the period under review, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

New Zealand (X tons), India (X tons) and South Africa (X tons) were the main destinations of pig iron exports from Australia.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, South Africa ($X) emerged as the key foreign market for pig iron and spiegeleisen exports from Australia, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to South Africa was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and New Zealand (X% per year).

Export Prices by Country

The average pig iron export price stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the export price showed a significant expansion. As a result, the export price reached 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 South Africa ($X per ton), while the average price for exports to New Zealand ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Pig Iron Imports

Imports into Australia

In 2023, purchases abroad of pig iron and spiegeleisen increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports saw a buoyant increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, pig iron imports skyrocketed to $X in 2023. Over the period under review, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in years to come.

Imports by Country

New Zealand (X tons), South Africa (X tons) and Brazil (X tons) were the main suppliers of pig iron imports to Australia, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by New Zealand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), New Zealand ($X) and Brazil ($X) appeared to be the largest pig iron suppliers to Australia, with a combined X% share of total imports. France and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

France, 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 pig iron import price stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was France ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform