Slovakia: Iron Ore Market 2021

Iron Ore Market Size in Slovakia

The Slovak iron ore market totaled $X in 2019, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated modest growth from 2007 to 2019: its value decreased 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, consumption increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Iron ore consumption peaked in 2019 and is expected to retain growth in the immediate term.

Iron Ore Exports

Exports from Slovakia

Iron ore exports from Slovakia skyrocketed to X tons in 2019, picking up by X% compared with the previous year. Overall, exports posted a tangible expansion. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. Exports peaked at X tons in 2013; however, from 2014 to 2019, exports remained at a lower figure.

In value terms, iron ore exports skyrocketed to $X in 2019. Over the period under review, exports showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2008 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure at $X in 2012; however, from 2013 to 2019, exports remained at a lower figure.

Exports by Country

Hungary (X tons) and the Czech Republic (X tons) were the main destinations of iron ore exports from Slovakia, together comprising X% of total exports.

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

In value terms, the Czech Republic ($X) remains the key foreign market for iron ore exports from Slovakia, comprising X% of total exports. The second position in the ranking was occupied by Hungary ($X), with a X% share of total exports.

From 2007 to 2019, the average annual growth rate of value to the Czech Republic totaled -X%.

Export Prices by Country

The average iron ore export price stood at $X per ton in 2019, dropping by -X% against the previous year. Overall, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. As a result, export price reached the peak level of $X per ton. From 2012 to 2019, the growth in terms of the average export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Hungary amounted to $X per ton.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic.

Iron Ore Imports

Imports into Slovakia

In 2019, approx. X tons of iron ores were imported into Slovakia; approximately equating 2018 figures. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 when imports increased by X% year-to-year. Imports peaked in 2019 and are likely to continue growth in years to come.

In value terms, iron ore imports reached $X in 2019. Overall, total imports indicated a measured increase 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, imports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Over the period under review, imports attained the peak figure in 2019 and are likely to see gradual growth in years to come.

Imports by Country

In 2019, Ukraine (X tons) constituted the largest supplier of iron ore to Slovakia, accounting for a X% share of total imports. Moreover, iron ore imports from Ukraine exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. The third position in this ranking was occupied by the U.S. (X tons), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Ukraine stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-X% per year) and the U.S. (+X% per year).

In value terms, the largest iron ore suppliers to Slovakia were Ukraine ($X), Russia ($X) and the U.S. ($X), together comprising X% of total imports.

The U.S. saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average iron ore import price amounted to $X per ton, growing by X% against the previous year. In general, import price indicated a temperate 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 import price increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% y-o-y. The import price peaked at $X per ton in 2011; however, from 2012 to 2019, import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Russia, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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