Report Update Nov 1, 2024

Vietnam - Iron Ores - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Iron Ore Market 2021

Iron Ore Market Size in Vietnam

For the fifth year in a row, the Vietnamese iron ore market recorded growth in sales value, which increased by X% to $X in 2019. Overall, consumption continues to indicate significant growth. The most prominent rate of growth was recorded in 2013 when the market value increased by X% against the previous year. Over the period under review, the market attained the maximum level in 2019 and is likely to continue growth in the near future.

Iron Ore Production in Vietnam

In value terms, iron ore production expanded significantly to $X in 2019 estimated in export prices. Overall, production posted a significant expansion. The growth pace was the most rapid in 2017 when the production volume increased by X% year-to-year. Over the period under review, production hit record highs in 2019 and is expected to retain growth in years to come.

Iron Ore Exports

Exports from Vietnam

After two years of growth, shipments abroad of iron ores decreased by -X% to X tons in 2019. Overall, exports showed a pronounced contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X% y-o-y. Exports peaked at X tons in 2018, and then dropped markedly in the following year.

In value terms, iron ore exports dropped notably to $X in 2019. In general, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2012 with an increase of X% year-to-year. As a result, exports reached the peak of $X. From 2013 to 2019, the growth exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for iron ore exports from Vietnam, accounting for a approx. X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to China amounted to -X%.

In value terms, China ($X) also remains the key foreign market for iron ore exports from Vietnam.

From 2007 to 2019, the average annual rate of growth in terms of value to China stood at -X%.

Export Prices by Country

In 2019, the average iron ore export price amounted to $X per ton, flattening at the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% against the previous year. Over the period under review, average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2019, export prices remained at a lower figure.

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

From 2007 to 2019, the rate of growth in terms of prices for China amounted to +X% per year.

Iron Ore Imports

Imports into Vietnam

After four years of growth, purchases abroad of iron ores decreased by -X% to X tons in 2019. Over the period under review, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2018, and then dropped rapidly in the following year.

In value terms, iron ore imports shrank slightly to $X in 2019. In general, imports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. Over the period under review, imports reached the maximum at $X in 2018, and then dropped slightly in the following year.

Imports by Country

In 2019, Ukraine (X tons) constituted the largest supplier of iron ore to Vietnam, with a X% share of total imports. Moreover, iron ore imports from Ukraine exceeded the figures recorded by the second-largest supplier, South Africa (X tons), eightfold. Malaysia (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Ukraine was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+X% per year) and Malaysia (+X% per year).

In value terms, Ukraine ($X) constituted the largest supplier of iron ore to Vietnam, comprising X% of total imports. The second position in the ranking was occupied by South Africa ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Ukraine was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+X% per year) and India (+X% per year).

Import Prices by Country

The average iron ore import price stood at $X per ton in 2019, increasing by X% against the previous year. In general, the import price, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was India ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Ukraine, 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 in the world?

The country with the largest volume of iron ore consumption was China, accounting for 54% of total volume. Moreover, iron ore consumption in China exceeded the figures recorded by the second-largest consumer, India, eightfold. The third position in this ranking was occupied by Australia, with a 6.1% share.

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

The countries with the highest volumes of iron ore production in 2019 were Australia, Brazil and China, together accounting for 70% of global production.

What are the leading suppliers of iron ores to Vietnam?

In value terms, Ukraine constituted the largest supplier of iron ore to Vietnam, comprising 70% of total imports. The second position in the ranking was occupied by South Africa, with a 8.5% share of total imports. It was followed by India, with a 6.8% share.

What are the leading importers of iron ores from Vietnam?

In value terms, China remains the key foreign market for iron ore exports from Vietnam.

What is the average export price for iron ores in Vietnam?

In 2019, the average iron ore export price amounted to $60 per ton, leveling off at the previous year.

What is the average import price for iron ores in Vietnam?

In 2019, the average iron ore import price amounted to $76 per ton, increasing by 20% against the previous year.

This report provides an in-depth analysis of the iron ore market in Vietnam. 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 2025.

Product coverage:

Country coverage:

Vietnam

Data coverage:

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