Malaysia: Pig Iron Market 2024

Pig Iron Market Size in Malaysia

The Malaysian pig iron market rose markedly to $X in 2023, growing by X% against the previous year. Over the period under review, consumption, however, recorded a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market remained at a lower figure.

Pig Iron Production in Malaysia

In value terms, pig iron production dropped modestly to $X in 2023 estimated in export price. Overall, production saw a significant increase. Pig iron production peaked at $X in 2022, and then reduced in the following year.

Pig Iron Exports

Exports from Malaysia

In 2023, approx. X tons of pig iron and spiegeleisen were exported from Malaysia; which is down by X% on the previous year. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2022, and then reduced in the following year.

In value terms, pig iron exports shrank to $X in 2023. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then fell in the following year.

Exports by Country

Bangladesh (X tons) was the main destination for pig iron exports from Malaysia, accounting for a X% share of total exports. Moreover, pig iron exports to Bangladesh exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. Singapore (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Bangladesh stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Singapore (X% per year).

In value terms, Bangladesh ($X), Indonesia ($X) and Singapore ($X) constituted the largest markets for pig iron exported from Malaysia worldwide, together accounting for X% of total exports.

Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average pig iron export price stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to India ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Pig Iron Imports

Imports into Malaysia

In 2023, pig iron imports into Malaysia fell notably to X tons, with a decrease of X% compared with 2022. In general, imports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports failed to regain momentum.

In value terms, pig iron imports dropped significantly to $X in 2023. Overall, imports recorded a deep downturn. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and Brazil (X tons) were the main suppliers of pig iron imports to Malaysia, together comprising X% of total imports. Thailand, South Africa and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of pig iron and spiegeleisen to Malaysia, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2023, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2023, the average pig iron import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price continues to indicate a perceptible expansion. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the average import prices remained at a lower figure.

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 Thailand ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform