Kenya: Iron Ore Market 2025

Iron Ore Market Size in Kenya

The Kenyan iron ore market shrank remarkably to $X in 2021, falling by -71.8% against the previous year. In general, consumption, however, saw a significant increase. Over the period under review, the market hit record highs at $X in 2020, and then contracted significantly in the following year.

Iron Ore Production in Kenya

In value terms, iron ore production surged to $X in 2021 estimated in export price. Overall, production enjoyed a perceptible increase. Iron ore production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Iron Ore Exports

Exports from Kenya

Iron ore exports from Kenya soared to X tons in 2021, with an increase of 97% compared with 2020 figures. Overall, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by 503% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron ore exports surged to $X in 2021. Over the period under review, exports saw a moderate expansion. The growth pace was the most rapid in 2018 when exports increased by 593%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

China (X tons) and Hong Kong SAR (X tons) were the main destinations of iron ore exports from Kenya.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +32.2%).

In value terms, China ($X) remains the key foreign market for iron ores and concentrates exports from Kenya, comprising 73% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +1.3%.

Export Prices by Country

The average iron ore export price stood at $X per ton in 2021, growing by 24% against the previous year. Overall, the export price, however, recorded a abrupt descent. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Hong Kong SAR stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (-0.4%).

Iron Ore Imports

Imports into Kenya

In 2021, the amount of iron ores and concentrates imported into Kenya soared to X tons, increasing by 23% compared with the previous year's figure. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 493% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, iron ore imports soared to $X in 2021. Overall, imports posted significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 133% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

Uganda (X tons), India (X tons) and South Africa (X tons) were the main suppliers of iron ore imports to Kenya, together accounting for 99% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uganda (with a CAGR of +65.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron ore suppliers to Kenya were South Africa ($X), India ($X) and Uganda ($X), together comprising 84% of total imports.

Uganda, with a CAGR of +43.1%, saw the highest growth rate of the value of imports, among 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 2021, increasing by 2.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 389%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+26.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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