Central Asia: Pig Iron Market 2024

Pig Iron Market Size in Central Asia

The Central Asian pig iron market soared to $X in 2023, increasing by X% against the previous year. In general, consumption, however, showed a pronounced curtailment. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Pig Iron Production in Central Asia

In value terms, pig iron production expanded modestly to $X in 2023 estimated in export price. The total production indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Pig Iron Exports

Exports in Central Asia

In 2023, after five years of growth, there was significant decline in overseas shipments of pig iron and spiegeleisen, when their volume decreased by X% to X tons. In general, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports remained at a lower figure.

In value terms, pig iron exports dropped rapidly to $X in 2023. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then contracted significantly in the following year.

Exports by Country

Kazakhstan (X tons) represented roughly X% of total exports in 2023.

Kazakhstan was also the fastest-growing in terms of the pig iron and spiegeleisen exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest pig iron supplier in Central Asia.

From 2012 to 2023, the average annual rate of growth in terms of value in Kazakhstan stood at X%.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the export price continues to indicate resilient growth. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2023, the rate of growth in terms of prices for Kazakhstan amounted to X% per year.

Pig Iron Imports

Imports in Central Asia

In 2023, purchases abroad of pig iron and spiegeleisen was finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. In general, imports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, pig iron imports declined rapidly to $X in 2023. Over the period under review, imports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Kazakhstan represented the major importer of pig iron and spiegeleisen in Central Asia, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Kyrgyzstan (X tons), Uzbekistan (X tons) and Tajikistan (X tons), together comprising a X% share of total imports.

Kazakhstan experienced a relatively flat trend pattern with regard to volume of imports of pig iron and spiegeleisen. At the same time, Kyrgyzstan (X%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of X% from 2012-2023. By contrast, Tajikistan (X%) and Uzbekistan (X%) illustrated a downward trend over the same period. Kazakhstan (X p.p.) and Kyrgyzstan (X p.p.) significantly strengthened its position in terms of the total imports, while Tajikistan and Uzbekistan saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported pig iron and spiegeleisen in Central Asia, comprising X% of total imports. The second position in the ranking was held by Kyrgyzstan ($X), with a X% share of total imports. It was followed by Uzbekistan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Kazakhstan totaled X%. In the other countries, the average annual rates were as follows: Kyrgyzstan (X% per year) and Uzbekistan (X% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price, however, posted a modest increase. The pace of growth was the most pronounced in 2021 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2022, and then dropped dramatically in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform