Belgium: Iron Ore Market 2021

Iron Ore Market Size in Belgium

The Belgian iron ore market rose to $X in 2019, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a slight shrinkage. The most prominent rate of growth was recorded in 2014 when the market value increased by X% year-to-year. Over the period under review, the market attained the peak level at $X in 2008; however, from 2009 to 2019, consumption stood at a somewhat lower figure.

Iron Ore Exports

Exports from Belgium

In 2019, approx. X tons of iron ores were exported from Belgium; which is down by -X% compared with the year before. In general, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2015 with an increase of X% y-o-y. Exports peaked at X tons in 2007; however, from 2008 to 2019, exports failed to regain the momentum.

In value terms, iron ore exports contracted notably to $X in 2019. Overall, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

Exports by Country

France (X tons), the Netherlands (X tons) and Algeria (X tons) were the main destinations of iron ore exports from Belgium, with a combined X% share of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands, while exports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Algeria ($X) were the largest markets for iron ore exported from Belgium worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, the Netherlands saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average iron ore export price stood at $X per ton in 2019, declining by -X% against the previous year. Overall, the export price, however, saw modest growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% year-to-year. Over the period under review, average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

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

Iron Ore Imports

Imports into Belgium

For the third consecutive year, Belgium recorded decline in purchases abroad of iron ores, which decreased by -X% to X tons in 2019. Overall, imports showed a perceptible descent. The pace of growth appeared the most rapid in 2014 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at X tons in 2008; however, from 2009 to 2019, imports stood at a somewhat lower figure.

In value terms, iron ore imports rose notably to $X in 2019. Over the period under review, imports continue to indicate a mild contraction. The pace of growth appeared the most rapid in 2014 with an increase of X% year-to-year. As a result, imports attained the peak of $X. From 2015 to 2019, the growth imports failed to regain the momentum.

Imports by Country

Canada (X tons), Brazil (X tons) and Sweden (X tons) were the main suppliers of iron ore imports to Belgium, together accounting for X% of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada, while imports for the other leaders experienced mixed trend patterns.

In value terms, Canada ($X) constituted the largest supplier of iron ore to Belgium, comprising X% of total imports. The second position in the ranking was occupied by Brazil ($X), with a X% share of total imports. It was followed by Sweden, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Canada amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-X% per year) and Sweden (+X% per year).

Import Prices by Country

The average iron ore import price stood at $X per ton in 2019, with an increase of X% against the previous year. Over the period under review, import price indicated a tangible increase from 2007 to 2019: its price 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, iron ore import price increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2011 an increase of X% year-to-year. As a result, import price reached the peak level of $X per ton. From 2012 to 2019, the growth in terms of the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Sweden ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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