Summary of the Development of the Iron Alloy Market in 2022

Ferroalloys are mainly based on iron and are made through mechanical processing or smelting. The main types include ferrosilicon, metallic silicon, metallic manganese, calcium silicon, ferrochromium, silicon carbide, etc. These ferroalloys are widely used in steel casting, chemical industry, and electric power manufacturing and many other fields.

According to the "Research Report on Market Supply and Demand Situation and Investment Prospects of China's Ferroalloy Industry from 2023 to 2029", from 2015 to 2022, China's average annual ferroalloy production has remained at around 34 million tons. As of the end of 2022, the annual demand will reach 41.4346 million tons, and the market size will reach 535.198 billion yuan. China is the world's largest producer of ferroalloys, with its main production areas located in North China and Northwest China. Inner Mongolia ranks first in the country with an annual output of 11.1101 million tons.

In terms of import and export trade, the scale of China's ferroalloys has shown an overall upward trend in recent years. According to data from the General Administration of Customs of China, my country's ferroalloy import volume in 2022 will be 8.4113 million tons, a year-on-year increase of 29.6%; the import value will be 20.399 billion US dollars, a year-on-year increase of 45.4%; the export volume will be 1.0778 million tons, a year-on-year increase of 17.1%; the export value will be 1.0778 million tons, a year-on-year increase of 17.1%; 3.171 billion US dollars, a year-on-year increase of 34.5%. This shows that the status of China's ferroalloys in the international market is gradually rising.