Eastern Europe: Iron Ore Market 2021

Iron Ore Market Size in Eastern Europe

In 2019, the East European iron ore market increased by X% to $X, rising for the second consecutive year after six years of decline. Over the period under review, consumption recorded a noticeable descent. The pace of growth was the most pronounced in 2011 when the market value increased by X% against the previous year. As a result, consumption attained the peak level of $X. From 2012 to 2019, the growth of the market failed to regain the momentum.

Iron Ore Production in Eastern Europe

In value terms, iron ore production soared to $X in 2019 estimated in export prices. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2012 to 2019, production growth failed to regain the momentum.

Production By Country in Eastern Europe

The countries with the highest volumes of iron ore production in 2019 were Russia (X tons) and Ukraine (X tons), together accounting for X% of total production.

From 2007 to 2019, the most notable rate of growth in terms of iron ore production, amongst the key producing countries, was attained by Russia.

Iron Ore Exports

Exports in Eastern Europe

In 2019, approx. X tons of iron ores were exported in Eastern Europe; picking up by X% compared with the previous year. The total export volume increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, exports reached the maximum at X tons in 2013; however, from 2014 to 2019, exports remained at a lower figure.

In value terms, iron ore exports soared to $X in 2019. Overall, exports recorded tangible growth. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. As a result, exports attained the peak of $X. From 2012 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

Ukraine was the largest exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Russia (X tons), comprising a X% share of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ukraine.

In value terms, the largest iron ore supplying countries in Eastern Europe were Ukraine ($X) and Russia ($X), with a combined X% share of total exports.

Ukraine saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The iron ore export price in Eastern Europe stood at $X per ton in 2019, increasing by X% against the previous year. Export price indicated modest growth 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 export price increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2011 when the export price increased by X% year-to-year. As a result, export price reached the peak level of $X per ton. From 2012 to 2019, the growth in terms of the export prices failed to regain the momentum.

Average prices varied noticeably amongst the major exporting countries. In 2019, the country with the highest price was Ukraine ($X per ton), while Russia totaled $X per ton.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Ukraine.

Iron Ore Imports

Imports in Eastern Europe

In 2019, overseas purchases of iron ores increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, imports, however, recorded a slight descent. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. The volume of import peaked at X tons in 2007; however, from 2008 to 2019, imports stood at a somewhat lower figure.

In value terms, iron ore imports expanded rapidly to $X in 2019. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at $X in 2008; however, from 2009 to 2019, imports failed to regain the momentum.

Imports by Country

The purchases of the five major importers of iron ores, namely Russia, Poland, Slovakia, Ukraine and the Czech Republic, represented more than two-thirds of total import. Romania (X tons) took the next position in the ranking, followed by Hungary (X tons). All these countries together occupied near X% share of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Hungary, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron ore importing markets in Eastern Europe were Russia ($X), Slovakia ($X) and Ukraine ($X), with a combined X% share of total imports.

In terms of the main importing countries, Ukraine recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The iron ore import price in Eastern Europe stood at $X per ton in 2019, growing by X% against the previous year. Import price indicated a modest expansion 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 most prominent rate of growth was recorded in 2011 when the import price increased by 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 import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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