Grey Cast Iron Price Trend

Grey Cast Iron Prices December 2023

The price of grey cast iron in the USA was influenced by numerous factors that shaped the landscape. Overall, the market was stable with slight year-on-year (YoY) variations. In Q4 of 2023, the prices of grey cast iron experienced a divergent trajectory in the initial and later halves. At the end of the final quarter, the price for grey cast iron in the USA stood at 2597 USD/MT.

The price of grey cast iron in China for Q4 2023 was recorded at 1560 USD/MT by the end of December. The market was impacted by several factors. The maintained equilibrium in the market, slight fluctuation in year-on-year (YoY) pricing, and slight cost disparity at the beginning and end of the quarters demonstrated the market landscape in China.

Germany witnessed a mixed trajectory in prices during the initial and latter halves of the quarter. An increase in year-on-year fluctuations in price trends also affected the market in the last quarter of 2023, concluding at 2127 USD/MT in December.

Grey Cast Iron Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Grey Cast Iron Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of grey cast iron pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of grey cast iron at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of grey cast iron price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing grey cast iron price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Grey Cast Iron Market Analysis

The global grey cast iron market size reached US$ 79.6 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 99.3 Billion, at a projected CAGR of 2.50% during 2023-2032.

• Grey cast iron is favored for its strength and affordability, driving its use in the automotive industry for engine blocks and brake systems. As the production of automobiles increases, the use of grey cast iron will also rise. In 2022, 85.4 million motor vehicles were produced around the world, which is an increase of 5.7% compared to 2021. In India alone, two-wheelers and passenger cars accounted for 76% and 17.4% of the market share. Moreover, the market for automotive brake systems worldwide is expected to reach 73.9 billion by 2032, with a 4.47% growth rate, thereby catalyzing the demand for grey cast iron in the near future.
• The grey cast iron demand is further amplified by its utilization in pipes, manhole covers, and other infrastructure components as construction projects increase. With the rising construction activities in the Asia Pacific region, which is projected to account for 40% of the global industry output value by 2030, the use of grey cast iron will also surpass. The region is also projected to record a value of 6% increase from 2020-2030. Also, the gross domestic product (GDP) share for the construction sector in Europe was 5.6%.
• The grey cast iron market share is further being reinforced by the growth of the renewable energy sector, propelling its use in wind and hydroelectric power generation. As the wind energy sector grows at a rate of 6.8% annually, expected to reach US$ 164.6 billion by 2032, the use of grey cast iron will also rise in wind generation equipment. Also, the hydropower industry is growing at a rate of 1.3%. Regionally, EU recorded an increase in energy consumption from 12.5% in 2010 to 23% in 2022, while Sweden had the highest share of renewables in its consumption with 66%, Finland 47.9%, and Latvia 43.3%. This has increased the utilization of grey cast iron in Europe since the introduction of the Renewable Energy Directive (2009/28/EC). 
• In addition, grey cast iron production is showing an upward trajectory as a result of its growing use in consumer electronics products like smartphones, tablets, laptops, and appliances. With the surge in electronic product demand, India’s electronics system design & manufacturing (ESDM) sector is expected to reach US$ 220 billion by 2025, growing at a 16.1% compound annual growth rate between 2019 and 2025 and is anticipated to be worth US$ 152 billion. Moreover, the smartphone industry worldwide is set to touch 1,968.7 million units by 2032, and the tablet industry is growing at an annual rate of 3.2%, according to IMARC Group.

Grey Cast Iron News

The report covers the latest developments, updates, and trends impacting the global grey cast iron market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the grey cast iron price trend.

Latest developments in the grey cast iron industry:

• In November 2021, Charter Manufacturing announced that it has acquired Aarrowcast Inc., a grey and ductile iron casting manufacturer with a production capacity of 42,000 tons per year. This acquisition is expected to help Charter Manufacturing to expand the manufacturing of its metal offerings and diversify its customer base.
• In August 2022, ArcelorMittal Nippon Steel (AM/NS) India acquired infrastructure assets from the Essar group for $2.4 billion, which is an India-based manufacturer of cast iron plates operating in the iron and steel casting market. This acquisition is expected to help AM/NS increase its steel manufacturing capacity.

Product Description

Grey cast iron refers to a type of iron that is known for its grey color due to the presence of graphite flakes in its composition. It is one of the most used forms of cast iron owing to its ability to be cast into complex shapes and sizes with a relatively low melting point. Grey cast iron is available in several types, differentiated by their mechanical properties and graphite structures, such as class 20 to class 60, where the number indicates the minimum tensile strength in thousands of pounds per square inch. It is composed of iron, carbon, and silicon, along with traces of manganese, phosphorus, and sulfur.

Grey cast iron is used in various applications, including automotive components, pipes and fittings, machinery bases, agricultural implements, and cookware. It offers numerous benefits, such as cost-effectiveness, good machinability, compressive strength, and compatibility with a wide range of manufacturing processes. Moreover, grey cast iron is lauded for its innate ability to dampen vibrations, resistance to deformation under load, and performance under a wide range of temperatures.

Regional Coverage

The report provides a detailed analysis of the grey cast iron market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the grey cast iron price trend.

Global Grey Cast Iron Price

The report offers a holistic view of the global Grey cast iron pricing trends in the form of grey cast iron price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of grey cast iron but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes. 

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed grey cast iron demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Grey Cast Iron Price

In the last month of Q4, the grey cast iron market in Europe showcased a resilient movement, with a continuation in operations. Also, hike in prices for cast iron plate and YoY rate fluctuations led to variations in prices in the first and second half of the quarter in 2023.

This analysis can be extended to include detailed grey cast iron price information for a comprehensive list of countries.

North America Grey Cast Iron Price

In North America, the grey cast iron market witnessed a mixed trajectory as the initial and latter halves of the fourth quarter saw variations in prices. This is due to fluctuations in year-on-year price trends. Notably, the market did not experience shutdowns and maintained an uninterrupted activity flow.

Specific grey cast iron historical data within the United States and Canada can also be provided.

Middle East and Africa Grey Cast Iron Price

The report explores the grey cast iron pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on grey cast iron prices for countries can also be provided.

Asia Pacific Grey Cast Iron Price

In the last quarter of 2023, the grey cast iron pricing in the Asia Pacific region was affected by several factors. This includes subtle year-on-year price variations and equilibrium in operations that led to stability in the market. Also, it was observed that there were slight price changes in the two halves of the quarter.

This grey cast iron price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Grey Cast Iron Price

The analysis of grey cast iron prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of grey cast iron pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting grey cast iron price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The grey cast iron price charts ensure our clients remain at the forefront of the industry.