India - Iron Ores And Concentrates - Market Analysis, Forecast, Size, Trends And Insights
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View PricingIron Ore Price in India Drops Dramatically to $34 per Ton
India Iron Ore Export Price in September 2022
In September 2022, the iron ore price amounted to $34.0 per ton (FOB, India), dropping by -31.5% against the previous month. Overall, the export price saw a drastic downturn. The most prominent rate of growth was recorded in February 2022 when the average export price increased by 31% m-o-m. As a result, the export price attained the peak level of $142 per ton. From March 2022 to September 2022, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was China ($37.0 per ton), while the average price for exports to Nepal stood at $6.9 per ton.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+28.3%), while the prices for the other major destinations experienced a decline.
India Iron Ore Exports
In September 2022, approximately 80K tons of iron ores and concentrates were exported from India; dropping by -70.3% compared with August 2022. Over the period under review, exports faced a dramatic setback. The pace of growth was the most pronounced in July 2022 when exports increased by 106% against the previous month. Over the period under review, the exports reached the peak figure at 3.5M tons in April 2022; however, from May 2022 to September 2022, the exports stood at a somewhat lower figure.
In value terms, iron ore exports declined sharply to $2.7M (IndexBox estimates) in September 2022. Overall, exports saw a sharp downturn. The growth pace was the most rapid in July 2022 with an increase of 83% month-to-month. The exports peaked at 416K tons in April 2022; however, from May 2022 to September 2022, the exports failed to regain momentum.
India Iron Ore Exports by Country
China (71K tons) was the main destination for iron ore exports from India, with a 89% share of total exports. Moreover, iron ore exports to China exceeded the volume sent to the second major destination, Nepal (8.1K tons), ninefold. From January 2022 to September 2022, the average monthly rate of growth in terms of volume to China totaled -33.7%.
In value terms, China ($2.6M) remains the key foreign market for iron ore exports from India, comprising 97% of total exports. The second position in the ranking was held by Nepal ($56K), with a 2.1% share of total exports. From January 2022 to September 2022, the average monthly growth rate of value to China stood at -41.9%.
Factors Affecting Iron Ore Prices
Iron ore is a key input in the production of steel, and variations in its price can have a significant impact on the cost of producing this essential metal. The iron ore price in India has been volatile in recent years, affected by a variety of factors. These include global supply and demand dynamics, the strength of the Indian economy, and government policies.
Global factors have been the most important drivers of the iron ore price in India in recent years. The global iron ore market is highly consolidated, with just a few major producers accounting for the majority of production. This means that changes in global supply and demand can have a significant impact on prices. For example, when Chinese demand for iron ore declined in 2015-16, this led to a sharp fall in prices globally, which affected Indian producers as well.
When economic growth is strong, this usually leads to increased demand for steel, which drives up the price of iron ore. Conversely, when economic growth slows down or contracts, this often leads to lower prices. The Indian economy has seen strong growth in recent years but is currently facing some challenges due to high inflation and slower than expected GDP growth.
Government policies can also affect the iron ore price in India. For example, if the government imposes export duties or restricts exports of iron ore, this will tend to push prices up. On the other hand, if the government takes steps to encourage exports or increase production (such as by providing subsidies), this will often lead to lower prices.
This report provides an in-depth analysis of the iron ore market in India. 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:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
