HS Code:
Ferromanganese (HS Code: 7202) is a ferroalloy composed of iron and manganese, used primarily in the production of steel to improve its strength and durability. It is categorized into high-carbon, medium-carbon, and low-carbon ferromanganese based on carbon content. This alloy plays a critical role in deoxidizing and desulfurizing steel, making it an essential input in the metallurgical industry. Global trade in ferromanganese is influenced by steel production trends, raw material availability, and industrial demand in key regions.
Total Trade Volume
Approximately $4.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$1.1 billion USD
26.2% of total trade of total trade
Increasing
$850 million USD
20.2% of total trade of total trade
Increasing
$600 million USD
14.3% of total trade of total trade
Decreasing
$400 million USD
9.5% of total trade of total trade
Stable
$350 million USD
8.3% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
15% (imposed by certain developing economies to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-India FTA or within ASEAN)
Rising demand from steel industries in Asia-Pacific
Increased exports from South Africa and India to meet demand in China and Southeast Asia
2021-2023
Shift towards sustainable production methods
Higher production costs but growing preference for low-carbon ferromanganese in Europe
2022-2023
Geopolitical disruptions affecting supply chains
Reduced exports from Ukraine due to ongoing conflict, shifting trade to other suppliers
2022-2023
The European Union introduced provisional anti-dumping duties ranging from 8-12% on ferromanganese imports from India to protect domestic producers.
June 2023
Potential reduction in Indian exports to the EU, redirection of trade to other markets like Asia
New manganese mining projects and processing facilities were announced to boost ferromanganese production for export markets.
March 2023
Strengthening South Africaโs position as the leading exporter, potentially lowering global prices
A slowdown in Chinaโs steel production due to environmental regulations and economic restructuring has reduced demand for ferromanganese.
September 2022
Temporary oversupply in the market, affecting prices and export volumes for key suppliers