Report Update Nov 1, 2024

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

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Portugal: Iron Ore Market 2024

Iron Ore Market Size in Portugal

In 2021, after four years of growth, there was decline in the Portuguese iron ore market, when its value decreased by -0.5% to $X. Over the period under review, consumption saw a mild descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Iron Ore Production in Portugal

In value terms, iron ore production reached $X in 2021 estimated in export price. Over the period under review, production saw a slight reduction. The growth pace was the most rapid in 2017 with an increase of 17%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Iron Ore Exports

Exports from Portugal

For the fourth consecutive year, Portugal recorded decline in shipments abroad of iron ores and concentrates, which decreased by -95.4% to X tons in 2020. Over the period under review, exports continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2013 with an increase of 354%. The exports peaked at X tons in 2014; however, from 2015 to 2020, the exports stood at a somewhat lower figure.

In value terms, iron ore exports fell sharply to $X in 2020. Overall, exports saw a precipitous descent. The pace of growth was the most pronounced in 2013 with an increase of 40% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2020, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for iron ore exports from Portugal, with a approx. 100% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to Ecuador was relatively modest.

In value terms, Ecuador ($X) emerged as the key foreign market for iron ores and concentrates exports from Portugal.

From 2012 to 2020, the average annual rate of growth in terms of value to Ecuador was relatively modest.

Export Prices by Country

In 2020, the average iron ore export price amounted to $X per ton, with an increase of 456% against the previous year. In general, the export price saw a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Ecuador.

From 2012 to 2020, the rate of growth in terms of prices for Germany amounted to +13.6% per year.

Iron Ore Imports

Imports into Portugal

In 2021, after three years of growth, there was significant decline in overseas purchases of iron ores and concentrates, when their volume decreased by -32.3% to X tons. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 2,166%. Over the period under review, imports attained the peak figure at X tons in 2020, and then reduced remarkably in the following year.

In value terms, iron ore imports shrank markedly to $X in 2021. Overall, imports, however, saw significant growth. The pace of growth was the most pronounced in 2013 with an increase of 1,262% against the previous year. Imports peaked at $X in 2020, and then declined remarkably in the following year.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of iron ore to Portugal, with a 70% share of total imports. Moreover, iron ore imports from France exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. The Netherlands (X tons) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume from France totaled +230.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+251.8% per year) and the Netherlands (+71.2% per year).

In value terms, France ($X) constituted the largest supplier of iron ores and concentrates to Portugal, comprising 52% of total imports. The second position in the ranking was taken by the UK ($X), with an 18% share of total imports. It was followed by the Netherlands, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France stood at +192.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+222.7% per year) and the Netherlands (+57.8% per year).

Import Prices by Country

In 2021, the average iron ore import price amounted to $X per ton, dropping by -42.6% against the previous year. In general, the import price faced a deep downturn. The most prominent rate of growth was recorded in 2020 an increase of 39% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 Spain ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+2.6%), while the prices for the other major suppliers experienced a decline.

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, with a combined 74% share of global consumption.

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

The country with the largest volume of iron ore production was Australia, 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 Portugal?

In value terms, Spain constituted the largest supplier of iron ore to Portugal, comprising 78% of total imports. The second position in the ranking was occupied by France, with a 19% share of total imports.

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

The average iron ore export price stood at $1,041 per ton in 2020, surging by 2,567% against the previous year.

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

In 2020, the average iron ore import price amounted to $762 per ton, increasing by 92% against the previous year.

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

Portugal

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Portugal
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 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
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 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
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, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023