Report Update May 1, 2025

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

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Japan: Iron Ore Market 2025

Iron Ore Market Size in Japan

The Japanese iron ore market surged to $X in 2021, rising by 59% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a relatively flat trend pattern. Iron ore consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Iron Ore Exports

Exports from Japan

In 2021, overseas shipments of iron ores and concentrates were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, iron ore exports soared to $X in 2021. Over the period under review, exports saw a tangible increase. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for iron ore exports from Japan, with a 55% share of total exports. Moreover, iron ore exports to Indonesia exceeded the volume sent to the second major destination, Thailand (X tons), twofold. The Philippines (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia stood at +75.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-0.4% per year) and the Philippines (+526.3% per year).

In value terms, the largest markets for iron ore exported from Japan were Thailand ($X), Indonesia ($X) and the Philippines ($X), together comprising 82% of total exports.

Among the main countries of destination, the Philippines, with a CAGR of +403.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average iron ore export price amounted to $X per ton, waning by -44.8% against the previous year. Over the period under review, the export price, however, posted a notable increase. The pace of growth was the most pronounced in 2014 when the average export price increased by 106%. The export price peaked at $X per ton in 2020, and then fell sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+98.3%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Ore Imports

Imports into Japan

In 2021, supplies from abroad of iron ores and concentrates increased by 14% to X tons for the first time since 2014, thus ending a six-year declining trend. In general, imports, however, continue to indicate a mild curtailment. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, iron ore imports soared to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Australia (X tons) constituted the largest supplier of iron ore to Japan, with a 59% 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 taken by Canada (X tons), with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia totaled -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-2.5% per year) and Canada (+20.8% per year).

In value terms, Australia ($X), Brazil ($X) and Canada ($X) constituted the largest iron ore suppliers to Japan, with a combined 91% share of total imports.

Canada, with a CAGR of +23.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average iron ore import price stood at $X per ton in 2021, jumping by 64% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

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 accounting for 74% of global consumption.

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

Australia constituted the country with the largest volume of iron ore production, comprising approx. 48% of total volume. Moreover, iron ore production in Australia exceeded the figures recorded by the second-largest producer, Brazil, threefold. Russia ranked third in terms of total production with a 15% share.

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

In value terms, the largest iron ore suppliers to Japan were Australia, Brazil and Canada, together comprising 89% of total imports.

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

In value terms, the largest markets for iron ore exported from Japan were Thailand, China and Malaysia, together comprising 91% of total exports. These countries were followed by Hong Kong SAR and the Philippines, which together accounted for a further 9%.

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

In 2020, the average iron ore export price amounted to $1,688 per ton, growing by 35% against the previous year.

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

The average iron ore import price stood at $97 per ton in 2020, with an increase of 12% against the previous year.

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

Japan

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Japan
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 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
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 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
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, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024