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China - Iron Ores And Concentrates - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

China - Iron Ores And Concentrates - Market Analysis, Forecast, Size, Trends And Insights

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Nov 21, 2023

China's September 2023 Iron Ore Import Declines to $10.8B

China Iron Ore Imports

In September 2023, the amount of iron ores and concentrates imported into China shrank modestly to 101M tons, waning by -4.9% against August 2023 figures. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in January 2023 when imports increased by 14% month-to-month.

In value terms, iron ore imports reduced to $10.8B (IndexBox estimates) in September 2023. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 when imports increased by 26% m-o-m.China Iron Ore Imports By Country (Billion USD)

COUNTRYImport Value of Iron Ore in China (billion USD)
Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023Sep 2023
Australia6.35.96.15.56.86.27.57.37.26.86.37.06.5
Brazil2.42.12.01.82.22.32.21.52.11.72.02.72.7
South Africa0.40.30.30.20.40.30.40.40.30.40.30.30.3
Peru0.30.10.10.20.20.20.30.30.3< 0.10.10.30.2
Others1.00.70.90.71.01.21.41.31.41.31.11.21.0
Total10.39.29.38.410.510.211.810.911.210.39.911.510.8

Imports by Country

In September 2023, Australia (61M tons) constituted the largest iron ore supplier to China, with a 61% share of total imports. Moreover, iron ore imports from Australia exceeded the figures recorded by the second-largest supplier, Brazil (25M tons), twofold. South Africa (3M tons) ranked third in terms of total imports with a 2.9% share.

From September 2022 to September 2023, the average monthly growth rate of volume from Australia was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Brazil (+0.6% per month) and South Africa (-1.4% per month).

In value terms, Australia ($6.5B) constituted the largest supplier of iron ore to China, comprising 61% of total imports. The second position in the ranking was taken by Brazil ($2.7B), with a 25% share of total imports. It was followed by South Africa, with a 3.1% share.

From September 2022 to September 2023, the average monthly rate of growth in terms of value from Australia was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Brazil (+0.8% per month) and South Africa (-1.1% per month).

Import Prices by Country

In September 2023, the iron ore price stood at $107 per ton (CIF, China), approximately reflecting the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 11% against the previous month. The import price peaked at $120 per ton in April 2023; however, from May 2023 to September 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In September 2023, the highest price was recorded for prices from Peru ($125 per ton) and South Africa ($113 per ton), while the price for India ($91.0 per ton) and Brazil ($107 per ton) were amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Australia (+0.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the iron ore market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 07101000 - Iron ores and concentrates (excluding roasted iron pyrites)
  • Prodcom 07101010 -
  • Prodcom 07101020 -

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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