Japan: Iron Ore Market 2021

Iron Ore Market Size in Japan

In 2019, the Japanese iron ore market was finally on the rise to reach $X for the first time since 2012, thus ending a six-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2019, consumption remained at a lower figure.

Iron Ore Exports

Exports from Japan

In 2019, the amount of iron ores exported from Japan dropped remarkably to X tons, declining by -X% on the year before. Overall, exports continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, exports hit record highs at X tons in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

In value terms, iron ore exports declined sharply to $X in 2019. Over the period under review, exports saw a pronounced setback. The pace of growth appeared the most rapid in 2018 with an increase of X% year-to-year. Exports peaked at $X in 2014; however, from 2015 to 2019, exports remained at a lower figure.

Exports by Country

Vietnam (X tons), China (X tons) and Thailand (X tons) were the main destinations of iron ore exports from Japan, 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 Thailand, while exports for the other leaders experienced more modest paces of growth.

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

From 2007 to 2019, the average annual rate of growth in terms of value to Thailand amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-X% per year) and Vietnam (+X% per year).

Export Prices by Country

In 2019, the average iron ore export price amounted to $X per ton, which is down by -X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% y-o-y. As a result, export price attained the peak level of $X per ton. From 2018 to 2019, the growth in terms of the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was Thailand ($X per ton), while the average price for exports to Vietnam ($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 Vietnam, while the prices for the other major destinations experienced a decline.

Iron Ore Imports

Imports into Japan

In 2019, after four years of decline, there was significant growth in overseas purchases of iron ores, when their volume increased by X% to X tons. Overall, imports, however, showed a slight reduction. The growth pace was the most rapid in 2010 when imports increased by X% y-o-y. Imports peaked at X tons in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

In value terms, iron ore imports soared to $X in 2019. Over the period under review, imports, however, recorded a mild expansion. The pace of growth was the most pronounced in 2010 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Australia (X tons) constituted the largest supplier of iron ore to Japan, with a X% share of total imports. Moreover, iron ore imports from Australia exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was occupied by Canada (X tons), with a X% share.

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

In value terms, the largest iron ore suppliers to Japan were Australia ($X), Brazil ($X) and Canada ($X), with a combined X% share of total imports. These countries were followed by South Africa, the U.S. and India, which together accounted for a further X the main suppliers, the U.S. (+X% per year) 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

In 2019, the average iron ore import price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price posted a tangible expansion. The pace of growth appeared the most rapid in 2010 when the average import price increased by X% year-to-year. The import price peaked at $X per ton in 2012; however, from 2013 to 2019, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2019, the highest prices were recorded for prices from the U.S. ($X per ton) and Canada ($X per ton), while the price for Australia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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