
China - Iron Ores And Concentrates - Market Analysis, Forecast, Size, Trends And Insights
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View PricingIron Ore Market Trends Amid China's Economic Moves
Iron ore futures experienced slight growth on Friday, bolstered by the latest stimulus efforts from China, the world's largest consumer of the commodity. However, prices have shown a decline over the week due to seasonally weaker demand for steel production. More details can be found in the original report by Mining.com.
The most-traded May iron ore contract on China's Dalian Commodity Exchange gained 0.4% closing at 753.5 yuan ($102.76) per metric ton but saw a 1.95% drop for the week. Simultaneously, the benchmark February iron ore on the Singapore Exchange remained steady, dipping 0.01% to $97.05 per ton, with a 1.17% weekly decline. According to Galaxy Futures, the consumption of steel has softened due to seasonal factors, reducing the demand for essential feedstocks including iron ore.
China's Iron Ore Trade Profile
China's iron ore export value soared to $3 billion in 2024, up from $2.6 billion in 2023, according to data from the IndexBox platform. The major export destinations in 2024 included Japan, which received $1.7 billion worth, followed by Taiwan (Chinese) at $648.6 million, South Korea at $334.2 million, Vietnam at $148 million, and Indonesia at $116.1 million.
On the import front, China remains a significant player, with a staggering $133.4 billion worth of iron ore imports in 2024, up from $127.1 billion in 2023. Australia led as the top supplier with $80.4 billion, followed by Brazil at $28 billion, South Africa at $4.5 billion, India at $3.9 billion, and Peru at $2.8 billion.
Market Response and Future Outlook
Despite attempts to limit the supply of steel with maintenance strategies from steelmakers, there is little expectation that these will effectively balance the declining demand. Mysteel has noted a consecutive eight-week dip in utilization rates of blast furnace producers, now at 84.24%.
Expectations that demand from winter stockpiling of steel will support pricing persist, alongside the anticipation of favorable policy moves. As Beijing extends consumer trade-in schemes to boost domestic consumption, growth forecasts for China are at 4.9% for 2024, slightly up from an anticipated 4.8% in 2023. Yet, challenges remain from sluggish consumer expenditure and a frail property sector.
In other developments on Friday, coking coal and coke on the Dalian Commodity Exchange decreased by 1.19% and 0.62% respectively, while on the Shanghai Futures Exchange, steel commodities such as rebar, hot-rolled coil, and wire rod recorded modest gains from 0.03% to 0.17%, except for a slight dip in stainless steel by 0.04%.
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:
- 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 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- 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 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- 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, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024