Saudi Arabia: Iron Ore Market 2021

Iron Ore Market Size in Saudi Arabia

For the fourth year in a row, the Saudi iron ore market recorded growth in sales value, which increased by X% to $X in 2019. Overall, consumption saw moderate growth. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Iron ore consumption peaked at $X in 2011; however, from 2012 to 2019, consumption remained at a lower figure.

Iron Ore Exports

Exports from Saudi Arabia

In 2019, overseas shipments of iron ores increased by X% to X tons, rising for the fifth year in a row after seven years of decline. In general, exports recorded resilient growth. The pace of growth appeared the most rapid in 2016 when exports increased by X% y-o-y. Over the period under review, exports hit record highs in 2019 and are likely to see steady growth in the immediate term.

In value terms, iron ore exports rose sharply to $X in 2019. Overall, exports saw a resilient increase. The growth pace was the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, exports hit record highs in 2019 and are expected to retain growth in years to come.

Exports by Country

The Netherlands (X tons), China (X tons) and the Philippines (X tons) were the main destinations of iron ore exports from Saudi Arabia, with a combined X% share of total exports.

From 2007 to 2019, the biggest increases were in the Netherlands (+X% per year), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X), China ($X) and the Philippines ($X) appeared to be the largest markets for iron ore exported from Saudi Arabia worldwide, with a combined X% share of total exports.

The Netherlands (+X% per year) recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2019, the average iron ore export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, showed a slight setback. The pace of growth was the most pronounced in 2008 an increase of X% y-o-y. As a result, export price reached the peak level of $X per ton. From 2009 to 2019, the growth in terms of the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2019, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to China ($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 the Philippines, while the prices for the other major destinations experienced a decline.

Iron Ore Imports

Imports into Saudi Arabia

In 2019, approx. X tons of iron ores were imported into Saudi Arabia; picking up by X% on the previous year's figure. Overall, total imports indicated a perceptible increase 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, imports decreased by -X% against 2017 indices. The pace of growth was the most pronounced in 2010 when imports increased by X% year-to-year. As a result, imports reached the peak of X tons. From 2011 to 2019, the growth imports failed to regain the momentum.

In value terms, iron ore imports reached $X in 2019. In general, imports continue to indicate a perceptible expansion. The growth pace was the most rapid in 2008 with an increase of X% against the previous year. Imports peaked at $X in 2011; however, from 2012 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Brazil (X tons) constituted the largest iron ore supplier to Saudi Arabia, accounting for a X% share of total imports. Moreover, iron ore imports from Brazil exceeded the figures recorded by the second-largest supplier, Greece (X tons), fivefold.

From 2007 to 2019, the average annual rate of growth in terms of volume from Brazil amounted to +X%.

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

From 2007 to 2019, the average annual growth rate of value from Brazil stood at +X%.

Import Prices by Country

In 2019, the average iron ore import price amounted to $X per ton, increasing by X% against the previous year. Overall, import price indicated a temperate 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 was the most pronounced in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2019, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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