Australia: Iron Ore Market 2021

Iron Ore Market Size in Australia

The Australian iron ore market contracted to $X in 2019, with a decrease of -X% against the previous year. In general, consumption, however, saw a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Iron Ore Production in Australia

In value terms, iron ore production soared to $X in 2019 estimated in export prices. In general, production posted prominent growth. The pace of growth appeared the most rapid in 2010 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2019, production remained at a lower figure.

Iron Ore Exports

Exports from Australia

In 2019, exports of iron ores from Australia surged to X tons, rising by X% compared with 2018. In general, exports saw a resilient expansion. The pace of growth was the most pronounced in 2014 when exports increased by X% y-o-y. Over the period under review, exports reached the peak figure in 2019 and are expected to retain growth in the immediate term.

In value terms, iron ore exports surged to $X in 2019. Over the period under review, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2010 when exports increased by X% against the previous year. Exports peaked at $X in 2013; however, from 2014 to 2019, exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for iron ore exports from Australia, with a X% share of total exports. Moreover, iron ore exports to China exceeded the volume sent to the second major destination, Japan (X tons), tenfold. South Korea (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to China stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-X% per year) and South Korea (+X% per year).

In value terms, China ($X) remains the key foreign market for iron ore exports from Australia, comprising X% of total exports. The second position in the ranking was occupied by Japan ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to China totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+X% per year) and South Korea (+X% per year).

Export Prices by Country

The average iron ore export price stood at $X per ton in 2019, increasing by X% against the previous year. In general, the export price continues to indicate slight growth. The most prominent rate of growth was recorded in 2010 when the average export price increased by X% y-o-y. Over the period under review, average export prices hit record highs at $X per ton in 2011; however, from 2012 to 2019, export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2019, the countries with the highest prices were China ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Japan ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to South Korea, while the prices for the other major destinations experienced more modest paces of growth.

Iron Ore Imports

Imports into Australia

In 2019, the amount of iron ores imported into Australia rose to X tons, growing by X% compared with the year before. Over the period under review, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2019, the growth imports remained at a lower figure.

In value terms, iron ore imports skyrocketed to $X in 2019. In general, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2016 when imports increased by X% y-o-y. Over the period under review, imports hit record highs in 2019 and are likely to see steady growth in the immediate term.

Imports by Country

In 2019, Mauritania (X tons) was the main iron ore supplier to Australia, with a X% share of total imports. Moreover, iron ore imports from Mauritania exceeded the figures recorded by the second-largest supplier, Chile (X tons), more than tenfold.

From 2007 to 2019, the average annual growth rate of volume from Mauritania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+X% per year) and South Africa (+X% per year).

In value terms, Mauritania ($X) constituted the largest supplier of iron ore to Australia, comprising X% of total imports. The second position in the ranking was occupied by Chile ($X), with a X% share of total imports.

From 2007 to 2019, the average annual rate of growth in terms of value from Mauritania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+X% per year) and South Africa (+X% per year).

Import Prices by Country

In 2019, the average iron ore import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, continues to indicate a mild decline. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% year-to-year. As a result, import price reached the peak level of $X per ton. From 2015 to 2019, the growth in terms of the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2019, the country with the highest price was South Africa ($X per ton), while the price for Mauritania ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by South Africa, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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