Mexico: Iron Ore Market 2021

Iron Ore Market Size in Mexico

The Mexican iron ore market declined slightly to $X in 2019, which is down by -X% against the previous year. Over the period under review, consumption, however, saw a slight decrease. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. Iron ore consumption peaked at $X in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.

Iron Ore Production in Mexico

In value terms, iron ore production fell to $X in 2019 estimated in export prices. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 when the production volume increased by X% against the previous year. Iron ore production peaked at $X in 2011; however, from 2012 to 2019, production remained at a lower figure.

Iron Ore Exports

Exports from Mexico

Iron ore exports from Mexico shrank remarkably to X tons in 2019, reducing by -X% against 2018 figures. Overall, exports, however, showed a slight increase. The pace of growth was the most pronounced in 2010 when exports increased by X% against the previous year. Over the period under review, exports reached the maximum at X tons in 2011; however, from 2012 to 2019, exports failed to regain the momentum.

In value terms, iron ore exports plummeted to $X in 2019. Over the period under review, exports, however, showed a pronounced increase. The pace of growth appeared the most rapid in 2010 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2011; however, from 2012 to 2019, exports failed to regain the momentum.

Exports by Country

China (X tons) was the main destination for iron ore exports from Mexico, with a X% share of total exports. Moreover, iron ore exports to China exceeded the volume sent to the second major destination, France (X tons), threefold. The third position in this ranking was occupied by South Africa (X tons), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to China totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+X% per year) and South Africa (+X% per year).

In value terms, China ($X) emerged as the key foreign market for iron ore exports from Mexico, comprising X% of total exports. The second position in the ranking was occupied by France ($X), with a X% share of total exports. It was followed by South Africa, with a X% share.

From 2007 to 2019, the average annual growth rate of value to China stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+X% per year) and South Africa (+X% per year).

Export Prices by Country

In 2019, the average iron ore export price amounted to $X per ton, falling by -X% against the previous year. In general, export price indicated a notable expansion from 2007 to 2019: its price 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, iron ore export price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. The export price peaked at $X per ton in 2011; however, from 2012 to 2019, export prices remained at a lower figure.

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

Iron Ore Imports

Imports into Mexico

In 2019, imports of iron ores into Mexico stood at X tons, standing approx. at 2018. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. Over the period under review, imports hit record highs at X tons in 2008; however, from 2009 to 2019, imports failed to regain the momentum.

In value terms, iron ore imports expanded modestly to $X in 2019. Over the period under review, imports posted notable growth. The growth pace was the most rapid in 2014 with an increase of X% year-to-year. Over the period under review, imports hit record highs at $X in 2008; however, from 2009 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, the U.S. (X tons) was the main supplier of iron ore to Mexico, with a X% share of total imports. Moreover, iron ore imports from the U.S. exceeded the figures recorded by the second-largest supplier, Sweden (X tons), more than tenfold.

From 2007 to 2019, the average annual growth rate of volume from the U.S. amounted to +X%.

In value terms, the U.S. ($X) constituted the largest supplier of iron ore to Mexico, comprising X% of total imports. The second position in the ranking was occupied by Sweden ($X), with a X% share of total imports.

From 2007 to 2019, the average annual rate of growth in terms of value from the U.S. amounted to +X%.

Import Prices by Country

The average iron ore import price stood at $X per ton in 2019, rising by X% against the previous year. In general, import price indicated a perceptible increase from 2007 to 2019: its price 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, iron ore import price increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2011 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2019, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, the country with the highest price was Sweden ($X per ton), while the price for the U.S. stood at $X per ton.

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

Source: IndexBox Platform

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