Morocco: Iron Ore Market 2024

Iron Ore Market Size in Morocco

The Moroccan iron ore market dropped notably to $X in 2021, waning by -92.9% against the previous year. In general, consumption faced a dramatic decline. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Iron Ore Production in Morocco

In value terms, iron ore production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production, however, faced a abrupt contraction. The growth pace was the most rapid in 2017 with an increase of 14% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Iron Ore Exports

Exports from Morocco

Iron ore exports from Morocco soared to X tons in 2021, growing by 145% on the year before. In general, exports, however, faced a sharp shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 318% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, iron ore exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a precipitous setback. The most prominent rate of growth was recorded in 2016 with an increase of 199%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons) was the main destination for iron ore exports from Morocco, with a 11% share of total exports. Moreover, iron ore exports to France exceeded the volume sent to the second major destination, China (X tons), more than tenfold. Belgium (X tons) ranked third in terms of total exports with a 0.4% share.

From 2012 to 2021, the average annual growth rate of volume to France totaled -34.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-35.7% per year) and Belgium (-34.1% per year).

In value terms, China ($X) emerged as the key foreign market for iron ores and concentrates exports from Morocco, comprising 11% of total exports. The second position in the ranking was taken by France ($X), with a 5.1% share of total exports. It was followed by Belgium, with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled -22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-40.0% per year) and Belgium (-21.9% per year).

Export Prices by Country

In 2021, the average iron ore export price amounted to $X per ton, with a decrease of -19.5% against the previous year. In general, the export price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 22% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to France ($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 Turkey (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Ore Imports

Imports into Morocco

In 2021, overseas purchases of iron ores and concentrates decreased by -19.2% to X tons, falling for the fourth consecutive year after two years of growth. Overall, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 94% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, iron ore imports reduced markedly to $X in 2021. In general, imports faced a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by 54% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest iron ore supplier to Morocco, with a 89% share of total imports. Moreover, iron ore imports from the Netherlands exceeded the figures recorded by the second-largest supplier, France (X tons), ninefold.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands amounted to +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-17.1% per year) and China (-36.7% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of iron ores and concentrates to Morocco, comprising 69% of total imports. The second position in the ranking was taken by France ($X), with a 28% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the Netherlands totaled +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-9.5% per year) and China (-30.3% per year).

Import Prices by Country

The average iron ore import price stood at $X per ton in 2021, waning by -4% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron ore import price increased by +55.8% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of 45% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+44.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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