Thailand: Iron Ore Market 2021

Iron Ore Market Size in Thailand

In 2019, the Thai iron ore market decreased by -X% to $X, falling for the fifth consecutive year after five years of growth. Over the period under review, consumption saw a drastic downturn. The pace of growth appeared the most rapid in 2013 when the market value increased by X% against the previous year. Over the period under review, the market attained the peak level at $X in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.

Iron Ore Production in Thailand

In value terms, iron ore production expanded modestly to $X in 2019 estimated in export prices. Over the period under review, production faced a abrupt slump. The pace of growth was the most pronounced in 2008 with an increase of X% y-o-y. As a result, production attained the peak level of $X. From 2009 to 2019, production growth failed to regain the momentum.

Iron Ore Exports

Exports from Thailand

In 2019, iron ore exports from Thailand fell to X tons, waning by -X% on the previous year's figure. In general, exports continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2010 when exports increased by X% year-to-year. Exports peaked at X tons in 2008; however, from 2009 to 2019, exports failed to regain the momentum.

In value terms, iron ore exports reached $X in 2019. Overall, exports continue to indicate a significant curtailment. The growth pace was the most rapid in 2008 when exports increased by X% year-to-year. As a result, exports reached the peak of $X. From 2009 to 2019, the growth exports failed to regain the momentum.

Exports by Country

China (X tons) was the main destination for iron ore exports from Thailand, accounting for a X% share of total exports. Moreover, iron ore exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold.

From 2007 to 2019, the average annual growth rate of volume to China stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+X% per year) and Singapore (-X% per year).

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

From 2007 to 2019, the average annual rate of growth in terms of value to China totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+X% per year) and Singapore (-X% per year).

Export Prices by Country

The average iron ore export price stood at $X per ton in 2019, surging by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 when the average export price increased by X% y-o-y. Over the period under review, average export prices attained the peak figure at $X per ton in 2008; however, from 2009 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2019, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($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 Singapore, while the prices for the other major destinations experienced a decline.

Iron Ore Imports

Imports into Thailand

In 2019, the amount of iron ores imported into Thailand reduced dramatically to X tons, declining by -X% against the previous year's figure. In general, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2019, imports remained at a lower figure.

In value terms, iron ore imports plummeted to $X in 2019. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2007; however, from 2008 to 2019, imports stood at a somewhat lower figure.

Imports by Country

Lao People's Democratic Republic (X tons), Turkey (X tons) and France (X tons) were the main suppliers of iron ore imports to Thailand, with a combined X% share of total imports. Sweden, the Netherlands, Japan and Myanmar lagged somewhat behind, together comprising a further X 2007 to 2019, the biggest increases were in Japan (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Turkey ($X) and Japan ($X) appeared to be the largest iron ore suppliers to Thailand, together comprising X% of total imports.

Among the main suppliers, Japan recorded the highest rates of growth with regard to the value of imports, 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, surging by X% against the previous year. In general, the import price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% year-to-year. As a result, import price reached the peak level of $X per ton. From 2015 to 2019, the growth in terms of the average import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was France ($X per ton), while the price for Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Turkey, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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