Northern America: Iron Ore Market 2021

Iron Ore Market Size in Northern America

The North American iron ore market expanded rapidly to $X in 2019, picking up by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2008 when the market value increased by X% year-to-year. The level of consumption peaked at $X in 2012; however, from 2013 to 2019, consumption failed to regain the momentum.

Iron Ore Production in Northern America

In value terms, iron ore production amounted to $X in 2019 estimated in export prices. The total production indicated a notable expansion from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. The level of production peaked at $X in 2014; however, from 2015 to 2019, production stood at a somewhat lower figure.

Production By Country in Northern America

The countries with the highest volumes of iron ore production in 2019 were Canada (X tons) and the U.S. (X tons).

From 2007 to 2019, the biggest increases were in Canada.

Iron Ore Exports

Exports in Northern America

In 2019, the amount of iron ores exported in Northern America amounted to X tons, growing by X% on the previous year's figure. Total exports indicated a temperate expansion from 2007 to 2019: its volume 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, exports increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2010 when exports increased by X% against the previous year. Over the period under review, exports hit record highs in 2019 and are expected to retain growth in the immediate term.

In value terms, iron ore exports expanded sharply to $X in 2019. Total exports indicated resilient growth from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2019, exports failed to regain the momentum.

Exports by Country

Canada was the largest exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by the U.S. (X tons), comprising an X% share of total exports.

Canada was also the fastest-growing in terms of the iron ores exports, with a CAGR of +X% from 2007 to 2019. At the same time, the U.S. (+X%) displayed positive paces of growth. While the share of Canada (+X p.p.) increased significantly in terms of the total exports from 2007-2019, the share of the U.S. (-X p.p.) displayed negative dynamics.

In value terms, Canada ($X) remains the largest iron ore supplier in Northern America, comprising X% of total exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total exports.

In Canada, iron ore exports expanded at an average annual rate of +X% over the period from 2007-2019.

Export Prices by Country

The iron ore export price in Northern America stood at $X per ton in 2019, with an increase of X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the export price increased by X% y-o-y. As a result, export price attained the peak level of $X per ton. From 2009 to 2019, the growth in terms of the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2019, the country with the highest price was Canada ($X per ton), while the U.S. totaled $X per ton.

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

Iron Ore Imports

Imports in Northern America

In 2019, purchases abroad of iron ores increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, imports saw modest growth. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. The volume of import peaked in 2019 and is likely to continue growth in years to come.

In value terms, iron ore imports expanded notably to $X in 2019. Over the period under review, imports saw mild growth. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. The level of import peaked at $X in 2008; however, from 2009 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Canada (X tons) represented the main importer of iron ores, making up X% of total imports. It was distantly followed by the U.S. (X tons), making up a X% share of total imports.

From 2007 to 2019, the biggest increases were in Canada.

In value terms, the largest iron ore importing markets in Northern America were Canada ($X) and the U.S. ($X), with a combined X% share of total imports.

Canada saw the highest growth rate of the value of imports, among the main importing countries over the period under review.

Import Prices by Country

The iron ore import price in Northern America stood at $X per ton in 2019, surging by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the import price increased by X% y-o-y. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was the U.S. ($X per ton), while Canada totaled $X per ton.

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

Source: IndexBox Platform

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