Asia-Pacific: Iron Ore Market 2021

Iron Ore Market Size in Asia-Pacific

In 2019, the Asia-Pacific iron ore market increased by X% to $X, rising for the third consecutive year after three years of decline. The total consumption indicated a remarkable increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2016 indices. The growth pace was the most rapid in 2011 when the market value increased by X% year-to-year. The level of consumption peaked at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

Iron Ore Production in Asia-Pacific

In value terms, iron ore production totaled $X in 2019 estimated in export prices. In general, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2010 when the production volume increased by X% y-o-y. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2019, production stood at a somewhat lower figure.

Production By Country in Asia-Pacific

Australia (X tons) remains the largest iron ore producing country in Asia-Pacific, accounting for X% of total volume. Moreover, iron ore production in Australia exceeded the figures recorded by the second-largest producer, China (X tons), threefold.

From 2007 to 2019, the average annual growth rate of volume in Australia stood at +X%. The remaining producing countries recorded the following average annual rates of production growth: China (+X% per year) and India (-X% per year).

Iron Ore Exports

Exports in Asia-Pacific

In 2019, approx. X tons of iron ores were exported in Asia-Pacific; growing by X% on 2018. Overall, exports showed a strong expansion. As a result, exports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron ore exports soared to $X in 2019. In general, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2010 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure at $X in 2013; however, from 2014 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Australia prevails in iron ore exports structure, recording X tons, which was near X% of total exports in 2019. The following exporters - India (X tons) and Malaysia (X tons) - each resulted at a X% share of total exports.

From 2007 to 2019, average annual rates of growth with regard to iron ore exports from Australia stood at +X%. At the same time, Malaysia (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +X% from 2007-2019. By contrast, India (-X%) illustrated a downward trend over the same period. Australia (+X p.p.) and Malaysia (+X p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -X% from 2007 to 2019, respectively.

In value terms, Australia ($X) remains the largest iron ore supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was occupied by India ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value in Australia amounted to +X%. In the other countries, the average annual rates were as follows: India (-X% per year) and Malaysia (+X% per year).

Export Prices by Country

The iron ore export price in Asia-Pacific stood at $X per ton in 2019, with an increase of X% against the previous year. Overall, the export price showed a mild expansion. The pace of growth was the most pronounced in 2011 an increase of X% against the previous year. As a result, export price attained the peak level of $X per ton. From 2012 to 2019, the growth in terms of the export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Australia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by India, while the other leaders experienced mixed trends in the export price figures.

Iron Ore Imports

Imports in Asia-Pacific

For the thirteenth consecutive year, Asia-Pacific recorded growth in purchases abroad of iron ores, which increased by X% to X tons in 2019. Total imports indicated resilient growth from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2007 indices. The pace of growth appeared the most rapid in 2009 when imports increased by X% y-o-y. Over the period under review, imports attained the peak figure in 2019 and are likely to see steady growth in years to come.

In value terms, iron ore imports expanded remarkably to $X in 2019. Over the period under review, imports recorded resilient growth. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. The level of import peaked at $X in 2013; however, from 2014 to 2019, imports remained at a lower figure.

Imports by Country

China prevails in iron ore imports structure, accounting for X tons, which was approx. X% of total imports in 2019. It was distantly followed by Japan (X tons) and South Korea (X tons), together achieving a X% share of total imports. The following importers - Malaysia (X tons) and Taiwan (Chinese) (X tons) - each recorded a X% share of total imports.

Imports into China increased at an average annual rate of +X% from 2007 to 2019. At the same time, Malaysia (+X%), South Korea (+X%) and Taiwan (Chinese) (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +X% from 2007-2019. By contrast, Japan (-X%) illustrated a downward trend over the same period. While the share of China (+X p.p.) and Malaysia (+X p.p.) increased significantly in terms of the total imports from 2007-2019, the share of South Korea (-X p.p.) and Japan (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported iron ores in Asia-Pacific, comprising X% of total imports. The second position in the ranking was occupied by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2007 to 2019, the average annual growth rate of value in China totaled +X%. In the other countries, the average annual rates were as follows: Japan (+X% per year) and South Korea (+X% per year).

Import Prices by Country

In 2019, the iron ore import price in Asia-Pacific amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2019, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was Taiwan (Chinese) ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Japan, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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