India: Iron Ore Market 2021

Iron Ore Market Size in India

After three years of growth, the Indian iron ore market decreased by -X% to $X in 2019. In general, the total consumption indicated a notable expansion from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. Over the period under review, the market reached the peak level at $X in 2018, and then shrank in the following year.

Iron Ore Production in India

In value terms, iron ore production rose remarkably to $X in 2019 estimated in export prices. Overall, the total production indicated a modest increase from 2007 to 2019: its value decreased at an average annual rate of -X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +X% against 2015 indices. The growth pace was the most rapid in 2011 when the production volume increased by X% y-o-y. Iron ore production peaked at $X in 2013; however, from 2014 to 2019, production stood at a somewhat lower figure.

Iron Ore Exports

Exports from India

In 2019, the amount of iron ores exported from India soared to X tons, picking up by X% on the year before. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure at X tons in 2010; however, from 2011 to 2019, exports remained at a lower figure.

In value terms, iron ore exports skyrocketed to $X in 2019. Over the period under review, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X% y-o-y. Exports peaked at $X in 2009; however, from 2010 to 2019, exports failed to regain the momentum.

Exports by Country

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

From 2007 to 2019, the average annual growth rate 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 ($X) remains the key foreign market for iron ore exports from India, comprising X% of total exports. The second position in the ranking was occupied by Japan ($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 growth rate 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

In 2019, the average iron ore export price amounted to $X per ton, rising by X% against the previous year. In general, the export price recorded mild growth. The most prominent rate of growth was recorded in 2011 an increase of X% year-to-year. The export price peaked at $X per ton in 2013; however, from 2014 to 2019, export prices failed to regain the momentum.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was Turkey ($X per ton), while the average price for exports to China ($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 Japan, while the prices for the other major destinations experienced more modest paces of growth.

Iron Ore Imports

Imports into India

After five years of growth, overseas purchases of iron ores decreased by -X% to X tons in 2019. Overall, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then declined sharply in the following year.

In value terms, iron ore imports shrank markedly to $X in 2019. Over the period under review, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2012 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018, and then declined remarkably in the following year.

Imports by Country

South Africa (X tons), Australia (X tons) and Brazil (X tons) were the main suppliers of iron ore imports to India, with a combined X% share of total imports. Canada, Iran and the Philippines lagged somewhat behind, together accounting for a further X 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron ore suppliers to India were South Africa ($X), Brazil ($X) and Australia ($X), together accounting for X% of total imports. These countries were followed by Canada, Iran and the Philippines, which together accounted for a further X (+X% per year) recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron ore import price stood at $X per ton in 2019, growing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 when the average import price increased by X% y-o-y. As a result, import price reached the peak level of $X per ton. From 2013 to 2019, the growth in terms of the average import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Iran ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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