China: Iron Ore Market 2021

Iron Ore Market Size in China

In 2019, the Chinese iron ore market increased by X% to $X, rising for the fourth year in a row after two years of decline. In general, consumption showed buoyant growth. The growth pace was the most rapid in 2009 with an increase of X% year-to-year. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2019, consumption stood at a somewhat lower figure.

Iron Ore Production in China

In value terms, iron ore production declined dramatically to $X in 2019 estimated in export prices. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Iron ore production peaked at $X in 2012; however, from 2013 to 2019, production remained at a lower figure.

Iron Ore Exports

Exports from China

In 2019, iron ore exports from China surged to X tons, jumping by X% against 2018. Over the period under review, exports enjoyed a significant expansion. As a result, exports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron ore exports skyrocketed to $X in 2019. Overall, exports saw a significant increase. As a result, exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for iron ore exports from China, with a X% share of total exports. Moreover, iron ore exports to Japan exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), fourfold. The third position in this ranking was occupied by Malaysia (X tons), with a X% share.

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

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

From 2007 to 2019, the average annual growth rate of value to Japan amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+X% per year) and Malaysia (+X% per year).

Export Prices by Country

In 2019, the average iron ore export price amounted to $X per ton, declining by -X% against the previous year. In general, the export price saw a noticeable curtailment. The growth pace was the most rapid in 2010 an increase of X% y-o-y. Over the period under review, average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2019, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was South Korea ($X per ton), while the average price for exports to Japan ($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 South Korea, while the prices for the other major destinations experienced a decline.

Iron Ore Imports

Imports into China

Iron ore imports into China amounted to X tons in 2019, remaining relatively unchanged against the previous year. In general, imports showed a prominent expansion. The growth pace was the most rapid in 2009 with an increase of X% year-to-year. Over the period under review, imports hit record highs in 2019 and are expected to retain growth in the near future.

In value terms, iron ore imports reached $X in 2019. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2009 with an increase of X% year-to-year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, Australia (X tons) constituted the largest iron ore supplier to China, accounting for a X% share of total imports. Moreover, iron ore imports from Australia exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. South Africa (X tons) ranked third in terms of total imports with a X% share.

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

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

From 2007 to 2019, the average annual growth rate of value from Australia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+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, remaining constant against the previous year. Over the period under review, the import price, however, showed a slight contraction. The growth pace was the most rapid in 2011 an increase of X% year-to-year. The import price peaked at $X per ton in 2013; however, from 2014 to 2019, import prices failed to regain the momentum.

Average prices varied noticeably amongst the major supplying countries. In 2019, the highest prices were recorded for prices from South Africa ($X per ton) and Brazil ($X per ton), while the price for Australia ($X per ton) and India ($X per ton) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Australia, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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