Report Update Nov 1, 2024

Brazil - Iron Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Brazil: Iron Ore Market 2024

Iron Ore Market Size in Brazil

In 2021, the Brazilian iron ore market decreased by -18% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption continues to indicate a deep reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Iron Ore Production in Brazil

In value terms, iron ore production declined to $X in 2021 estimated in export price. Overall, production, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of 0.3%. Iron ore production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Iron Ore Exports

Exports from Brazil

In 2021, after two years of decline, there was significant growth in overseas shipments of iron ores and concentrates, when their volume increased by 7.6% to X tons. The total export volume increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by 44% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron ore exports soared to $X in 2021. Over the period under review, exports continue to indicate perceptible growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for iron ore exports from Brazil, accounting for a 68% share of total exports. Moreover, iron ore exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold. Japan (X tons) ranked third in terms of total exports with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+24.5% per year) and Japan (-9.9% per year).

In value terms, China ($X) remains the key foreign market for iron ores and concentrates exports from Brazil, comprising 64% of total exports. The second position in the ranking was held by Malaysia ($X), with a 6.4% share of total exports. It was followed by Bahrain, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+21.4% per year) and Bahrain (+21.7% per year).

Export Prices by Country

In 2021, the average iron ore export price amounted to $X per ton, jumping by 61% against the previous year. In general, the export price posted a measured increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Bahrain ($X per ton) and Oman ($X per ton), while the average price for exports to China ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Ore Imports

Imports into Brazil

Iron ore imports into Brazil soared to X tons in 2021, growing by 75% on the previous year. Over the period under review, imports saw significant growth. The pace of growth was the most pronounced in 2019 when imports increased by 259,362% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, iron ore imports skyrocketed to $X in 2021. In general, imports posted a significant expansion. The growth pace was the most rapid in 2019 with an increase of 298,277% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, India (X tons) was the main supplier of iron ore to Brazil, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from India amounted to +451.5%.

In value terms, India ($X) constituted the largest supplier of iron ores and concentrates to Brazil.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +869.2%.

Import Prices by Country

In 2021, the average iron ore import price amounted to $X per ton, surging by 78% against the previous year. In general, the import price, however, faced a abrupt downturn. The pace of growth appeared the most rapid in 2015 when the average import price increased by 785%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +76.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron ores and concentrates in the world?

The countries with the highest volumes of iron ore consumption in 2020 were China, Australia and Russia, together comprising 74% of global consumption.

What are the largest producers of iron ores and concentrates in the world?

The country with the largest volume of iron ore production was Australia, comprising approx. 48% of total volume. Moreover, iron ore production in Australia exceeded the figures recorded by the second-largest producer, Brazil, threefold. The third position in this ranking was occupied by Russia, with a 15% share.

What are the leading suppliers of iron ores and concentrates to Brazil?

In value terms, Russia constituted the largest supplier of iron ore to Brazil, comprising 67% of total imports. The second position in the ranking was occupied by India, with a 32% share of total imports.

What are the leading importers of iron ores and concentrates from Brazil?

In value terms, China remains the key foreign market for iron ore exports from Brazil, comprising 72% of total exports. The second position in the ranking was occupied by Malaysia, with a 6.6% share of total exports. It was followed by Japan, with a 3.5% share.

What is the average export price for iron ores and concentrates in Brazil?

The average iron ore export price stood at $75 per ton in 2020, with an increase of 16% against the previous year.

What is the average import price for iron ores and concentrates in Brazil?

In 2020, the average iron ore import price amounted to $128 per ton, declining by -5% against the previous year.

This report provides an in-depth analysis of the iron ore market in Brazil. 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:

Brazil

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Brazil
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023