Report Update Nov 1, 2024

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

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Uruguay: Iron Ore Market 2024

Iron Ore Market Size in Uruguay

The Uruguayan iron ore market expanded to $X in 2021, rising by 3.9% against the previous year. Over the period under review, consumption posted buoyant growth. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Iron Ore Production in Uruguay

In value terms, iron ore production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by 6%. As a result, production attained the peak level of $X, and then shrank in the following year.

Iron Ore Exports

Exports from Uruguay

In 2021, overseas shipments of iron ores and concentrates increased by 32% to X tons, rising for the fourth consecutive year after four years of decline. Overall, exports saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 511%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, iron ore exports skyrocketed to $X in 2021. Over the period under review, exports saw a resilient increase. The pace of growth appeared the most rapid in 2020 when exports increased by 30%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Japan (X tons) and Spain (X tons) were the main destinations of iron ore exports from Uruguay.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of -23.2%).

In value terms, Spain ($X) emerged as the key foreign market for iron ores and concentrates exports from Uruguay, comprising 0.6% of total exports. The second position in the ranking was taken by Japan ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain totaled -30.6%.

Export Prices by Country

The average iron ore export price stood at $X per ton in 2021, shrinking by -1.8% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 428% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Japan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+5.4%), while the prices for the other major destinations experienced a decline.

Iron Ore Imports

Imports into Uruguay

In 2021, iron ore imports into Uruguay skyrocketed to X tons, jumping by 21% compared with 2020. In general, imports posted a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 58%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, iron ore imports declined to $X in 2021. Over the period under review, imports recorded a strong increase. The pace of growth was the most pronounced in 2019 with an increase of 150%. Imports peaked at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, Brazil (X tons) was the main supplier of iron ore to Uruguay, with a approx. 99.9% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Brazil amounted to +23.7%.

In value terms, Brazil ($X) constituted the largest supplier of iron ores and concentrates to Uruguay.

From 2012 to 2021, the average annual growth rate of value from Brazil amounted to +6.2%.

Import Prices by Country

In 2021, the average iron ore import price amounted to $X per ton, reducing by -26.2% against the previous year. Over the period under review, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 58%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Brazil.

From 2012 to 2021, the rate of growth in terms of prices for Brazil amounted to -14.1% per year.

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?

Australia remains the largest iron ore producing country worldwide, accounting for 48% of total volume. Moreover, iron ore production in Australia exceeded the figures recorded by the second-largest producer, Brazil, threefold. The third position in this ranking was occupied by Russia, with a 15% share.

What are the leading suppliers of iron ores and concentrates to Uruguay?

In value terms, Brazil constituted the largest supplier of iron ore to Uruguay.

What are the leading importers of iron ores and concentrates from Uruguay?

In value terms, Spain remains the key foreign market for iron ore exports from Uruguay.

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

In 2020, the average iron ore export price amounted to $105 per ton, with an increase of 2% against the previous year.

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

In 2018, the average iron ore import price amounted to $28 per ton, almost unchanged from the previous year.

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

Uruguay

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Uruguay
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