World - Iron Ores And Concentrates - Market Analysis, Forecast, Size, Trends And Insights
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Iron ore market: get access to the latest data empowered by an Ai-driven BI platform. Data include trade, exports, market prices, consumption, production, imports, market size, and companies. Here is a breakdown by country, including Russia, Africa, EU, the U.S., Latin America, the Middle East, China, and the U.K. Market trends and forecast to 2030 are also featured in the snapshots.
Iron Ore - World's Largest Markets
| Rating | Country |
|---|---|
| 1 | China |
| 2 | Australia |
| 3 | Russia |
| 4 | Japan |
| 5 | South Korea |
In value terms, China, Australia and Russia constituted the countries with the highest levels of market value in 2020, together accounting for 77% of the global market.
Australia recorded the highest rates of growth with regard to market size, among the main consuming countries over the period under review, while iron ore market for the other global leaders experienced more modest paces of growth.
Iron Ore Prices
Lowest Prices - FOB - Top Exporters
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| USD per ton | ||||
| India | 55 | 68 | 74 | 16.0% |
| Brazil | 52 | 65 | 75 | 20.1% |
| Russia | 83 | 94 | 78 | -3.1% |
| Ukraine | 79 | 85 | 92 | 7.9% |
| Australia | 67 | 79 | 92 | 17.2% |
| South Africa | 67 | 86 | 93 | 17.8% |
| Canada | 86 | 95 | 103 | 9.4% |
| Sweden | 101 | 116 | 114 | 6.2% |
| Average | 65 | 77 | 88 | 16.8% |
Prices varied noticeably by the country of origin; the country with the highest price was Sweden ($114 per ton), while India ($74 per ton) was amongst the lowest.
From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Brazil, while the other global leaders experienced more modest paces of growth.
Highest Prices - CIF - Top Importers
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| USD per ton | ||||
| Germany | 79 | 93 | 109 | 17.5% |
| Netherlands | 57 | 73 | 104 | 35.1% |
| China | 55 | 93 | 102 | 36.2% |
| South Korea | 59 | 79 | 98 | 28.9% |
| Japan | 61 | 86 | 97 | 26.1% |
| Average | 60 | 91 | 101 | 30.1% |
Average prices varied noticeably amongst the major importing countries. In 2020, major importing countries recorded the following prices: in Germany ($109 per ton) and the Netherlands ($104 per ton), while Japan ($97 per ton) and South Korea ($98 per ton) were amongst the lowest.
From 2018 to 2020, the most notable rate of growth in terms of prices was attained by China, while the other global leaders experienced more modest paces of growth.
Iron Ore - Top Importers
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| billion USD | ||||
| China | 56 | 100 | 119 | 45.3% |
| Japan | 7.1 | 10 | 9.7 | 16.7% |
| South Korea | 4.3 | 5.7 | 6.9 | 26.9% |
| Germany | 2.9 | 3.1 | 3.7 | 12.6% |
| Netherlands | 1.3 | 1.6 | 2.5 | 38.6% |
In value terms, China ($118.9B) constitutes the largest market for imported iron ores and concentrates worldwide, comprising 74% of global imports. The second position in the ranking was occupied by Japan ($9.7B), with a 6% share of global imports. It was followed by South Korea, with a 4.3% share.
In China, iron ore imports expanded at an average annual rate of +45.3% over the period from 2018-2020. In the other countries, the average annual rates were as follows: Japan (+16.7% per year) and South Korea (+26.9% per year).
Iron Ore - Top Exporters
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| billion USD | ||||
| Australia | 56 | 66 | 80 | 20.2% |
| Brazil | 20 | 23 | 26 | 12.9% |
| South Africa | 4.3 | 5.8 | 6.1 | 19.5% |
| Canada | 4.1 | 4.9 | 5.7 | 17.9% |
| Ukraine | 2.9 | 3.4 | 4.2 | 21.6% |
In value terms, Australia ($80.2B) remains the largest iron ore supplier worldwide, comprising 55% of global exports. The second position in the ranking was occupied by Brazil ($25.8B), with a 18% share of global exports. It was followed by South Africa, with a 4.2% share.
In Australia, iron ore exports expanded at an average annual rate of +20.2% over the period from 2018-2020. In the other countries, the average annual rates were as follows: Brazil (+12.9% per year) and South Africa (+19.5% per year).
Iron Ore - Market Forecast
Driven by increasing demand for iron ore worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.
Iron Ore - Top Companies
Jiangxi Wushishan Iron Ore Mine, BHP BILLITON MINERALS PTY LTD, BHP BILLITON DIRECT REDUCED IRON PTY. LTD., BHP BILLITON LIMITED, BHP BILLITON IRON ORE PTY. LTD., Vale S/A, Ansteel Group Gongchangling Mining Company Subordinate Enterprise Company, VEDANTA LIMITED, HAMERSLEY IRON PTY. LIMITED, CHICHESTER METALS PTY LTD, FMG SOLOMON PTY LTD, FORTESCUE METALS GROUP LTD, HAMERSLEY HOLDINGS LIMITED, PILBARA IRON COMPANY (SERVICES) PTY LTD, HINDUSTAN ZINC LIMITED, HAMERSLEY IRON - YANDI PTY LIMITED, ASSMANG LTD, Luossavaara-Kiirunavaara AB, Cleveland-Cliffs Inc., MITSUI & CO. MINERAL RESOURCES DEVELOPMENT PTY LTD
Iron Ore - Product Coverage
- HS 260111 - Iron ores and concentrates; non-agglomerated
- HS 260112 - Iron ores and concentrates; agglomerated (excluding roasted iron pyrites)
This report provides an in-depth analysis of the global iron ore market. 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:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
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
-
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
- CONSUMPTION BY COUNTRY
- 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. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- 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 -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption, By Country, 2018–2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Destination, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Origin, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Consumption, By Country, 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
- Production, By Country, 2024
- Production, In Physical Terms, By Country, 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, 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, 2012–2024
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This report provides an in-depth analysis of the global iron ore market.
1012
This report provides an in-depth analysis of the global iron ore market.
434
This report provides an in-depth analysis of the global roasted iron pyrites market.
345
Discover the implications of renewed merger talks between Rio Tinto and Glencore, signaling a shift in the global mining landscape.
182
Iron ore prices rise to a four-week high due to reduced shipments from Rio Tinto, a weaker dollar, and a potential uptick in steel demand.
139
Rio Tinto's Q4 2024 iron ore shipments saw a slight decline due to reduced demand from China, aligning with market expectations. The company's annual exports remained strong, and it continues to advance growth projects globally.
224
Fortescue collaborates with China Baowu to tackle steel decarbonization via green iron technology, targeting full transition by 2030.
175
BHP and Rio Tinto partner with BlueScope Steel to build Australia's largest electric iron-making furnace, aiming to lower emissions significantly and transform the steel industry.
259
Explore the persistent weakness in the global iron ore market expected beyond 2025, driven by sluggish demand and robust supply. Key insights include Fitch Solutions' outlook on prices, China's steel production challenges, and global supply trends.
164
Analysts predict iron ore prices will fall below $100 as China struggles to stimulate its economy, affecting global demand and supply dynamics.
1607
Explore the top import markets for iron ore, including China, Japan, South Korea, and more. Learn about the key statistics and import values of these countries. Discover valuable insights using the IndexBox market intelligence platform.
887
Iron ore prices are forecast to drop by 20% y/y to $130 per ton in 2022 due to rising global production.
